First investment and first house as a duplex house hack

[Kiefer Cheney]

Investment Info:

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

Purchase price: $310,000
Cash invested: $2,000

First primary residence as a house hack

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

I wanted my first home as well has asset that will increase my net worth

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

I found it on the MLS and the builder did not budge on the price so we offered a little more than asking so that the builder could cover the closing costs

How did you finance this deal?

Traditional financing

How did you add value to the deal?

I haven't yet

What was the outcome?

Property hits all my numbers

Lessons learned? Challenges?

I learned always to have more than one financing plan. My loan feel through because I didn't have enough time in the army to use the VA loan and I was counting on it the whole time so since that feel through I hade to go the FHA rout witch increased my interest rate 1.3 percent and on top of that I now have to pay PMI and if I had been planning more than one loan in the begging I would have been prepared

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I worked with an agent that I competed in a body building show with oddly enough and if you are around the Conroe tx market his name is Rodolfo Solis 936-444-9231