First Time Homebuyer House Hack to Duplex Rental
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $89,900
Cash invested: $20,000
Sale price: $160,000
House hacked before it was a thing. Lived in the upstairs unit for 3 years until I got married and bought a house
What made you interested in investing in this type of deal?
Already lived in the area
How did you find this deal and how did you negotiate it?
Bought from the brother of a client at the time
How did you finance this deal?
Conventional financing with bank
How did you add value to the deal?
Upgraded kitchens, bathrooms, and other items that hadn't been touched for years
What was the outcome?
Lived in upstairs unit for 3 years, then rented both units out for the next 12 or so years
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Not for this one