House Hack, First deal.

[Jordan Wells]

Investment Info:

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

Purchase price: $120,000
Cash invested: $5,000

Buy and hold “House Hack”. First deal.

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

BiggerPockets podcast

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

Realtor.com

How did you finance this deal?

FHA loan

How did you add value to the deal?

Duplex was move in ready.

What was the outcome?

Wife and I are currently living in one unit and renting the other. It doesn’t quite cover our mortgage, but it is a great property. Move in ready, bank foreclosure, built in 2010.

Lessons learned? Challenges?

Probably should have negotiated pricing more, but was excited to get started and had been looking for a livable small multi family for a while.

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

Yes, Nora Holmes.