First Deal FHA House Hack

[Daniel Lewis]

Investment Info:

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

Purchase price: $137,500
Cash invested: $9,900

First deal, FHA house hack. Currently occupying 1 unit and renting the other half.

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

Rich Dad Poor Dad of course !

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

Through the mls with my local agent who also invests

How did you finance this deal?

An FHA loan

How did you add value to the deal?

I came in over asking price to make my FHA loan offer more appealing to the seller.

What was the outcome?

I got the deal turn key with an awesome tenant!

Lessons learned? Challenges?

Still pretty new but I’m sure I could always be more patient and look harder for better deals. Definitely check out more properties too !

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

Yeah in the Syracuse area Bell Home Team is great.