Personal multi-family purchase

[Account Closed]

Investment Info:

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

Purchase price: $460,000
Cash invested: $50,000

My wife and I purchased a duplex in November 2022, lived in it for a year, and now rent it out using a long-term hold strategy. We’ve since acquired another rental and are looking to expand our portfolio.

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

I’ve been working in management and syndications for the past 5 years.

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

This deal was found and negotiated through an agent.

How did you finance this deal?

FHA loan.

How did you add value to the deal?

Invested around $35,000 in value-add upgrades and did most of the labor ourselves.

What was the outcome?

Cash flow of about $600 & looking to refi through the FHA streamline to get closer to $1,000.