First property, House Hack

[Gerald Yawn]

Investment Info:

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

Purchase price: $269,000
Cash invested: $20,000

First property ever purchased, House hacking a single family 2/1 house needing some repairs along with a recently remodeled 1/1 ADU which is currently rented out.

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

It seemed like the simplest way to get started in this area by taking advantage of an FHA loan, with a ready to go rental and a home that could benefit greatly from forced appreciation

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

Through my realtor and through online research, negotiated mostly on major repairs which were needed while keeping an eye on where the market was heading.

How did you finance this deal?

FHA

How did you add value to the deal?

Doing some basic cosmetic rehab, both paying for and doing a lot of work on my own.

What was the outcome?

So far it is going great!

[Jim Stout]

Congrats Gerald! Keep doing what you're doing. Sounds like a great property. I hope it makes you a lot of money. Best of luck!