South Austin Duplex Househack

[Jordan Moorhead]

Investment Info:

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

Purchase price: $500,000

I just closed on my next Househack in South Austin! This 3/2 and 2/1 duplex was listed at $525,000, I got it under contract at $500,000 and it appraised at $522,000. Immediately I'll paint the outside white with black trim at the suggestion of @jessraden. Once both tenants move out in a month we'll get in and remodel the place! The goal is to increase the value enough that I can refinance into a conventional loan next year and do this again with another FHA loan in a year or two.

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

I was looking for my next duplex househack and wanted a 3/2 unit. I've never had two bathrooms.

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

On the MLS and I was the Agent

How did you finance this deal?

FHA loan

How did you add value to the deal?

I will paint the exterior and remodel the units

What was the outcome?

I should live for free!

Lessons learned? Challenges?

Keep househacking!

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

The Moorhead Team

[Alicia Marks]

Awesome find Jordan! The Austin market will be great for a buy and hold. Cheers to more deals in the future!