House Hack #2

[Joseph Turano]

Investment Info:

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

Purchase price: $551,050
Cash invested: $12,000

Utilized the new 5% down conventional option. Maxed out 3% credits, ~$2,500 on inspection items, rolled commission into down payment. Roughly $11,000 total up front acquisition cost. Partnered with brother and friend splitting evenly 3 ways. Garden was a partially finished 1/1 with no kitchen but a bathroom. Created a kitchen, renovated bathroom, rented for $1,500 immediately. Brother living in top floor, other friend renting out 1st floor.