Owner occupied loan to live in units - triplex

[Robert Hooks]

Investment Info:

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

Purchase price: $950,000
Cash invested: $210,000

Triplex. Bought and moved in for owner occupied loan. Currently worth approx $1.5M as of Feb '19.

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

Was able to buy it well under market value through a trustee.

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

I had been tracking this deal for a long time through family and was able to negotiate a deal prior to it coming to market.

How did you finance this deal?

Traditional. 20% down.

How did you add value to the deal?

Renovating the units and raising rents as they turn.

What was the outcome?

Still living here so will have to get back to this....

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

John Hooks - real estate appraiser of 30+ years in the South Bay of Los Angeles. His company is Hooks & Associates.