House-hacking a rehab hungry duplex bought from my dad

[Jonathan Burks]

Investment Info:

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

Purchase price: $130,000
Cash invested: $10,000

Living in and rehabbing a duplex with a tenant helping with the payment. Needs new exterior work and moderate interior work. Last year, I finished a new kitchen an new HVAC on my side.

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

My parents wanted to sell while I was living in it. I want to be a buy and hold investor in the future, and I got a good deal on it.

How did you finance this deal?

Land contract with owner financing with my dad for the last year. Looking to get a mortgage now and close on the property.

Lessons learned? Challenges?

I am learning something new everyday about housing repairs, home owning, and land lording.