simple owner occupy duplex but missed opportunity for first time homebuyers

[Emmanel Mebratu]

Investment Info:

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

Purchase price: $465,000
Cash invested: $65,000

Owner Occupy Side by Side duplex

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

looking for house hack and owner occupy for first investment property

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

Found the duplex on Redfin and watch it until first price drop from seller
then offered 10K lower than new sales price and it was accepted
still with inspection contingency and 45 days to close

How did you finance this deal?

Conventional Mortgage

How did you add value to the deal?

replace carpet to laminate flooring
new appliances

What was the outcome?

found a long term tenant within 1 month of closing and lived in other unit for 1 year.

Lessons learned? Challenges?

should of look into more financing options
and try to fit into government programs first time homebuyers for lower downpayment and lower interest rate