4-Unit House Hack + 203K Loan

[Bradley LaBrie]

Investment Info:

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

Purchase price: $105,000

Cash invested: $68,000

3 unit distressed property, rehabbing and adding an additional 4th unit. House hacked this property using the 203k loan that kicked in $29k in renovation costs and I contributed $39k cash out of pocket. Full remodel that will cashflow while i live for free!

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

I wanted to live for free

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

On the MLS

How did you finance this deal?

203K loan

How did you add value to the deal?

$68,000 in renovations by adding a fourth unit and rehabbing the existing.