Oak St. Triplex - House Hack

[David Heisler]

Investment Info:

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

Purchase price: $570,000
Cash invested: $16,500

This property is a triplex that my brother and I are currently house hacking. We bought the property with two tenants in place, and moved into the vacant unit. Since we closed early in the month, we actually got a credit for November's rent at closing. In addition to that, we didn't have to pay a mortgage until January. We're currently "charging" ourselves $1300 for rent. We set up our unit on Airbnb as well, and with that income factored in we net over $1,000 a month. When it's all said and done, we'll make back all our initial investment in less than a year and be ready to house hack two quadplexes come October!

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

Real estate investing has been a goal of mine for a long time. This deal was an easy way to knock down a few doors and get the ball rolling. You have to live somewhere - why not pay yourself to live?

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

MLS

How did you finance this deal?

FHA loan.

How did you add value to the deal?

Bought the property as a B class investment and intend to keep it that way.