My first house Hack deal

[Ryan McAllian]

Investment Info:

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

Purchase price: $334,900
Cash invested: $1

House hack deal

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

Having a tenant pay most of my mortgage.

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

I found the deal through the MLS.

How did you finance this deal?

FHA 3.5% down

How did you add value to the deal?

I negotiated for the seller to pay for a new roof at a value of $10k. Also a $5k credit at the close.

What was the outcome?

I’m a realtor so I was able to poor my commission into the down payment and had the seller give me $5k back at close. I hardly put my own money into the deal.

Lessons learned? Challenges?

Renovations yourself is hard work but rewarding. I was able to make an $1100 into a $1500 unit.

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

Myself!