Partnership House Hack

[Cam Vankerkhove]

Investment Info:

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

Purchase price: $172,500
Cash invested: $8,000

Property Type

Duplex - 3-bed bottom unit, 2-bed top unit

Purchase Price

$172,500 - FHA 3.5% down, 3.125% interest rate

PITI
$1200

Income
 $1100 rent from tenants in bottom unit

Details

The loan is in my name, however this deal was a 50-50 partnership with a close friend and fellow BP member. We'll be living in the top unit for at least a year and will equally split equity, income/expenses and management responsibilities. After all expenses and reserves are accounted for, we're able to live in a nearly turnkey property for very little out of pocket each month, allowing us to rapidly accelerate savings for future deals. 

I was also able to earn a commission on this deal for being our agent! Icing on the cake!