House-hack Duplex (1st Deal)

[Ryan O'Malley]

Investment Info:

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

Purchase price: $179,900
Cash invested: $5,762

Living in the bottom 1 bedroom unit and renting out the top 3 bedroom unit. Rehabbing the upstairs unit currently and will be living for free once complete and rented!

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

I realize that housing is my single biggest monthly expense and was drawn to a small multi-family because I could get conventional financing.

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

I found this deal through the use of a realtor (Craig Stull at Renowned Realty)

How did you finance this deal?

FHA starter loan

How did you add value to the deal?

I am adding value by rehabilitating the upstairs unit and am bringing the unit to market rent (it was under by quite a bit).

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

I worked with Craig Stull (realtor), who I found on Bigger Pockets! Highly recommended.