3 unit house hack in Fort Wayne, IN

[Anthony Tumbiolo]

Investment Info:

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

Purchase price: $100,000

Bought a 3 unit property in Fort Wayne, Indiana.

Will be combining 2 units to turn into my primary residence and will keep 3rd unit as an Airbnb to enable me to live for free.

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

Neighborhood is turning and is walking distance to downtown. Wanted to buy a place that could allow us (me and my girlfriend) to house hack and live for free or cover most of the expenses.

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

Off-market, broker brought it to me

How did you finance this deal?

25% cash down and 75% loan from a local bank

Will be funding renovations through a line of credit + cash

How did you add value to the deal?

Going to be putting in about 100k worth of work. 2/3 units need significant work to become live-able again.

What was the outcome?

Just purchased and starting on renovations now.