Successful House Hack

[Timeo Williams]

Investment Info:

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

Purchase price: $375,000
Cash invested: $60,000

Hello there!

I purchased this multi-family using a house hacking strategy.

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

My dad has been involved in the real estate scene for a while now.

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

Prior landlord was complaining about the property and the tenants. We overheard them and asked a few more questions....

How did you finance this deal?

Using a traditional FHA loan.

How did you add value to the deal?

We ended up adding extra bedrooms with the available space present and raising the rent from $995 to $1700/month.

What was the outcome?

Awesome. Lived in one of the units for about a year and then afterwards had most units rented out.