House Hack #2 (Greenville, NC

[Sebastian Kressley]

Investment Info:

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

Purchase price: $128,000
Cash invested: $22,000

House Hack #2
2 bedroom 2 bath duplex

Side A: $1,200 (3 Month Lease)
Side B: $400 (12 Month Lease), Roommate
Expenses: $900 PITI, 20% (vacancy, repairs etc.)

Monthly Income: $560 (While living for FREE!)

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

Yet another full duplex where I was able to purchase it with an owner occupied loan & get paid while living for free!

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

Off-market deal that my realtor found.

How did you finance this deal?

15% down owner occupied loan.

How did you add value to the deal?

Brand new flooring & fully furnished.

What was the outcome?

Fully functioning house hack #2!

Lessons learned? Challenges?

Trying to put together the puzzle of short term leases by bedroom.

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

Brian Corbett - best investor friendly realtor in Eastern North Carolina.