Primary residence with apartment for supplemental income

[Matthew Porcelli]

Investment Info:

Single-family residence buy & hold investment in Holbrook.

Purchase price: $365,000
Cash invested: $20,000

An apartment in my primary residence.
Upgraded when purchased to command the highest rent possible.
Looking to expand to other buy and hold rentals in the Long Island area, possibly with the BRRRR method.

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

I wanted to buy a house (to begin building equity) but knew I'd need some additional form of income to be able to afford it.

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

Through a real estate agent.
Not much negotiating involved.

How did you finance this deal?

Mortgate

Lessons learned? Challenges?

Patience. This was my first house and I had a specific goal in mind. I visited about 100 houses for sale in a 6 month period.

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

My agent Kyle Kollegger was very dedicated and helpful. A pleasure to work with