First time homebuyer house hack

[Carrie Purkeypile]

Investment Info:

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

Purchase price: $150,000
Cash invested: $8,000

For my first home I purchased a duplex on short-sale. I lived in one unit for several years and rented out the other. I now have both units occupied.

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

Rent is so high in California, I was giving away most of my income to build someone else's wealth! I read Rich Dad, Poor Dad and was inspired to begin building passive income and having someone else pay my mortgage.

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

I found this deal on the MLS and purchased it through the listing agent, without getting my own.

How did you finance this deal?

First time home buyer's loan required a very small downpayment and I used personal savings.

Lessons learned? Challenges?

I found this deal on the MLS and purchased it through the listing agent, without getting my own. This was a mistake. He didn't take very good care of me and pulled double commission so he was very motivated to make the sale. I ended up having to pay back tax liens at the last moment, and inheriting a terrible tenant.