All Forum Posts by: Joseph Kneen

Investment Info:

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

This deal was a combination of the Brrrr strategy and a house hack.

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

I was interested in this property because I noticed it was vacant as well as needing a fair amount of rehab work. I am a contractor so I was able to preform most all of the work required myself. Once work was completed I had quite a bit of equity in the deal as well as decent cash flow.

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

I found this deal driving around on weekends looking for prospects. I contacted the owner and over a period of time arranged the deal.

How did you finance this deal?

HELOC and owner financing.

What was the outcome?

I rehabbed one unit, moved into that unit and rehabbed the rest of the units while living there.

Investment Info:

Single-family residence buy & hold investment in Homer.

Purchase price: $205,000

Cash invested: $205,000

Built my own home with possibility of selling in two years minus cap gains tax. Or potentially renting out.

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

Experience in building homes for others who made profits.

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

Lots of research but also knowing others who can help and have ears in different places

How did you finance this deal?

FTHB conventional home loan

How did you add value to the deal?

Buying before land was listed. Built with much sweat equity.

What was the outcome?

TBD

Lessons learned? Challenges?

Preparation sure beats desperation. Know your estimates accurately (time & resources).