First Investment Went Very Well... Now I'm Addicted

[Hunter McDonald]

Investment Info:

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

Purchase price: $215,000
Cash invested: $2,500

Owner occupied (aka house hack) duplex built in 2006. Bought with live in tenant.

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

Less living expenses with roommate, girlfriend, and tenant paying for mortgage. Also, it was my first deal.

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

Found through real estate agent. Starting price was $260,000 and talked seller down to $215,000.

How did you finance this deal?

Financed with $0 down VA home loan.

How did you add value to the deal?

Fixed leaky faucets, replaced dish washer parts, and fixed torn carpets for tenants shortly after moving in.

Lessons learned? Challenges?

Don't put closing and moving in on the calendar for the same day.

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

Max McGee of Grossman Group and Patrick Bailey from Freedom Mortgage. They both own their own real estate and helped navigate me through the bad deals and taught me so much.