House hack - owner occupied duplex

[Nellie Bentz]

Investment Info:

Small multi-family (2-4 units) other investment in Rochester.

Purchase price: $225,000
Cash invested: $7,875

House hack - owner occupied duplex, so currently no positive cash flow

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

Starting to build an investment property portfolio while covering the majority of my living expenses with my rental income

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

Started looking for houses on zillow, redfin, etc. and found a realtor from checking out those listings. Viewed multiple properties with him, bid on a duplex and got outbid, then bid was accepted for this property and I moved in and rent the other unit

How did you finance this deal?

FHA loan through a traditional lender

Lessons learned? Challenges?

Next time be pickier with the neighborhood and the condition of the house - and never trust the realtor to collect security deposits from the seller if buying with tenants already in place

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

I was happy with my lender Don McLelland from Supreme Lending; and happy so far with my insurance agent Donna McLelland
Would not recommend the realtor (not enough attention to detail) or my inspector (missed the fact that the roof was leaking in the garage)