How We Built a Multi-Million Dollar Portfolio Using Low Down Payments

We knew at a young age that real estate would be our main way of generating wealth. Even with no family history or experience, we knew it would work if we could execute a plan.

Enter, house hacking. 

We live in Boston, MA and it's one of the most expensive markets in the country. Like most markets, there are major institutional investors as well as "mom and pop". The competition is fierce. 

We got our start in 2018 buying a two-unit property using FHA 5% down payment. We converted this property to three units, and renovated the entire property. This property now cash flows well for us, and has created over $350K in equity.

Our next step was refinancing out of this FHA loan, into a conventional loan. We were able to refi into a conventional mortgage and completely eliminate mortgage insurance. The added bonus was that we could use FHA again!

At the end of 2019, we were able to buy another two-family property. This was a massive value-add project! We finished the basement and added 3 bedrooms and 2 bathrooms to the property! This created $750K in equity! Yes, we bough for $840K, and appraised for $1.7M!

We then refinanced again, into a conventional loan. We removed mortgage insurance, and increased our cash-flow even more! When we bought this property, market rent-roll would be ~$6K total. It now has a rent roll of $10,600 per month!

You guessed it! We used FHA again just at the end of 2021. We acquired another two-family and are executing a very similar strategy as above. This property is a little smaller, but should allow for "similar" returns.

Our portfolio is now over $3M and we did this all with low-down programs! in total, our down payments for the three properties were about $110K! Yes, this does not include our renovation costs.

Looking to get started? Look no further than low down payment programs - it can change your life!