House hacking four unit

[Charles Clark]

Investment Info:

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

Purchase price: $199,900
Cash invested: $10,000

Four unit with 2 bedrooms and 1 bath

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

After running the numbers, I was going to cash flow $1000 without making any updates to the property. The rents are already $100 to $125 below rents in the area. And all this while I am able to live in the property.

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

On the MLS

How did you finance this deal?

FHA

How did you add value to the deal?

Meeting with the owner before putting in an offer

What was the outcome?

The property is the first in the portfolio

Lessons learned? Challenges?

Ever now and then, people get lucky on the first try.

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

Yes, I worked with Amber Otto with First Weber Realtors