First House Hack

[Michael Brian david]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Ft. Lauderdale.

Purchase price: $465,000
Cash invested: $80,000

SFH with detached In Laws Quarters where I am living

What made you interested in investing in this type of deal?

Property looked in great shape in an up and coming historic neighborhood near downtown Ft. Lauderdale. Also had a separate entrance to the In Laws House which we could rent separately as another unit.

How did you find this deal and how did you negotiate it?

Real estate agent in the neighboring county suggested it as we where looking for more doors(4 unit) as our first house hack and she recommended a bigger and better duplex might still have a similar effect on cashflow and appreciation.

How did you finance this deal?

FHA 3.5% down

How did you add value to the deal?

Complete upgrade of both units kitchen and renovation of the rest of the units.

What was the outcome?

Living in the back house currently renting out the main house. Negative on cadh flow at the moment looking for a 2nd home to purchase.