House Hacking Long term strategy to buy and hold duplex

[Thomas Myung]

Investment Info:

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

Purchase price: $525,000
Cash invested: $23,000

Duplex in Pierce county purchased through FHA loan 3.5% down.

How did you finance this deal?

FHA 3.5%

How did you add value to the deal?

while living in the property, did some remodel on the unit - LVP flooring, re-paint walls and cabinets

What was the outcome?

property was re-financed to lower interest rete using FHA streamline during low interest period (~2.1% interest),
Unfortunately the loan requires to live in property for another year so hopefully after that will be able to rent out expect cash flow