Looked like to much work, said the family.

[Brandon R Holmes]

Investment Info:

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

Purchase price: $490,000
Cash invested: $90,000

Single family home with a cottage producing cash flow and a beautiful location. Just to get the FHA loan I had to do repairs propbono before the loan was funded. Worth it!

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

Free "rent"

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

It was on the market actually and my agent had shown me 30 homes (before I was an agent as well) and he probably thought, this one is crazy enough for him. Negotiated the deal by locking it in that day at 5k over asking price (why lose it over a nickle?)

How did you finance this deal?

FHA went with 8% down at the end of the day.

How did you add value to the deal?

Father moved in a month before me with extensive contractor knowledge which I piggy backed over the next few years.

What was the outcome?

Free cost of living and equity building. Did I mention the cash flow?

Lessons learned? Challenges?

Remembering to keep your living space clean and stress free. Don't bring the stress of extra jobsite materials or let the weeds grow too high.

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

Lender was Brady Spangler with Axia home loans in Wailea. He has brought me two deals that took effort and energy. He is a rockstar.