Living Rent and Mortgage Free for the last 5 years

[Myeisha Greene]

Investment Info:

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

Purchase price: $62,000
Cash invested: $4,500

Husband and I house hacked a duplex using FHA loan and down payment assistance.

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

House hacking, had experience in property management. The mortgage was less than the rent.

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

MLS, I was the agent

How did you finance this deal?

FHA with down payment assistance

How did you add value to the deal?

didn't have to the duplex was less than 10 years old at the time.

What was the outcome?

Lived in one side for a year, then moved out to move into another investment property I owned free and clear and moved in a long term good paying tenant I knew from years of experience in property management.
5 years later that tenant was approved to purchase and is buying another flip we are due to complete in April.

Lessons learned? Challenges?

I would do this deal 100 times over! Don't count out the affordable housing market.

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

I am the professional!