My first property - The House Hack with Cash on Cash ROI

[Evan Dobrowski]

Investment Info:

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

Purchase price: $158,500
Cash invested: $7,500

Purchase price-------$158,500
Repair Costs-----------$22,000
Current Valuation---$325,000
Bought this property as a foreclosure; first property I ever purchased. It started as a house hack duplex but this quickly caught the BRRRR bug for me. Over the course of 2 years I remodeled this property and pulled a HELOC to invest in more properties.

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

I originally purchased as my personal residence to make a little extra income house hacking.

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

Purchased off the MLS with a realtor.

How did you finance this deal?

FHA Conventional loan

How did you add value to the deal?

Remodel

What was the outcome?

House hacking worked great, remodel added value, still a great rental.