This is my entry into real estate investing. (My first deal)
The current plan for this property is to house hack for a year and a half or two, then buy another house hack.
This is an up and down duplex.
Unit one; 1st fl and basement, 3 bed 1 bath.
Unit two; 2nd and 3rd fl, 4 bed 3 full bath.
I am currently not receiving any cash flow for this house hack.
Unit one is paying $899 and all utilities.
Unit two (where I currently live) when I move out will pay $1200+.

for my first deal/house I pay $300 a month.
That's not bad for just starting out. I mean a mortgage of $300!
Im sure I could have found a deal where I would be living for free if I waited longer and not taken action on this.

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

The potential cash flow of over $1000 after I move out.
As this is my first property, I thought house hacking would be the best start.
This way I can add value while I'm living in one of the units.

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

I found it on the MLS, I offered a price based off of comps in the area.
The price I offered was below the asking, this property was also on the market for about 2 and a half months.
I really did not do much negotiation, in hindsight I wish I did.
I did get the property below market asking price but not to much below appraisal value.
(Hindsight is 20/20 as they say.)
As a new investor now I know and kind of have knowledge to negotiate down. If not there is always another deal out there.

How did you finance this deal?

This was an FHA first time buyer loan.

How did you add value to the deal?

I'm living in one one unit.
While living here, I will add new appliances, backsplash and quartz countertops in the kitchen.
I will also remove the carpeting and add hardwood floors throughout.
Change the flip light switches to wide press switches and maybe a new paint color.

Lessons learned? Challenges?

- Don't be afraid to negotiation for a lower price or a sellers credit.
- Get multiple quotes before moving with the first one you receive.
- Do you due diligence even if you receiving a high recommendation for company/person.
- Do your own thorough inspection of the property and don't just rely on the inspector even if you are walking the property with
them.
- Tell your realtor you plan, not just for what you are looking for now but your overall goals.