Triplex rehab and house hack

[Anthony Katsonis]

Investment Info:

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

Purchase price: $266,500
Cash invested: $90,000

Triplex that we bought on the MLS and house hacked. One 3/2 house that we gutted and remodeled, and a 1/1 duplex. We have since remodeled one of the duplex units as well and have raised the rent to just a smidge under market rent (to minimize vacancies). The property is doing pretty well.

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

The smaller entry price of small multi family vs. large multi family.

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

MLS

How did you finance this deal?

Conventional 20% down

How did you add value to the deal?

Remodeled two of the three units and raised the rent across the board.

What was the outcome?

A nice cashflowing property that we could sell for ~100k more than we paid for it.

Lessons learned? Challenges?

Always plan on your budget and timeline doubling :)