House Hack Duplex in Cincinnati

[Megan Day]

Investment Info:

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

Purchase price: $187,000
Cash invested: $8,000

I house hacked this duplex. Purchase price was 207k but we negotiated 20k in cash back at closing for improvements. Current tenant on second floor pays 1250 a month and after improvements I estimate to get 900 per month for the bottom unit that I currently occupy.

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

I wanted to try a house hack to save on living expenses and gain experiences managing a rental.

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

MLS through a realtor.

How did you finance this deal?

FHA.

How did you add value to the deal?

Sweat equity and hiring contractors.

What was the outcome?

Still in progress!

Lessons learned? Challenges?

I am learning the challenges of managing contractors. Be ready to be patient if you haven't done this yourself.

Knowing everything is negotiable -- I negotiated 20k cash back at closing which was really imperative for improving the property!