All Forum Posts by: Joseph Kim

Tell me how you creatively financed multifamily properties between 10-200 units. I'm excited to hear your story! 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $130,000
Cash invested: $800

1106 NW 52nd St. is my primary home that I am currently house hacking. I decided to experiment a little and do both traditional rental and Airbnb (private room) for this property. Interestingly enough, this strategy has worked in my favor thus far. I've been able to optimize my NOI from this hack hack, which has not only helped me live for free, but also make a little extra cash to live in my own house!

How did you finance this deal?

This house was purchased with a VA loan so it required 0% down. Additionally, the seller covered all my closing costs plus some; therefore, I only spent $800 for this entire transaction (appraisal and inspection).

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $130,000
Cash invested: $800

1106 NW 52nd St. is my primary home that I am currently house hacking. I decided to experiment a little and do both traditional rental and Airbnb (private room) for this property. Interestingly enough, this strategy has worked in my favor thus far. I've been able to optimize my NOI from this hack hack, which has not only helped me live for free, but also make a little extra cash to live in my own house!

This house was purchased with a VA loan so it required 0% down. Additionally, the seller covered all my closing costs plus some; therefore, I only spent $800 for this entire transaction (appraisal and inspection).

Hey Connor, just saw your post and I feel you and I can relate pretty well. Just bought my first property and I'm already under contract for another duplex I was able to get through a bid. Throughout the past few months I've been able to network with great people local to Lawton and also those who invest out of state in Lawton. I also work with a great realtor who I can refer you too. Let me know if you want to connect, and hopefully I can offer some value in the start of your journey. 

Also, @Abe DeHart is a investor to network with, you should 100% reach out to him too if you haven't already. 

BP Community, 

I've recently seen a bunch of SF homes and I cant help but think there are tons of untapped potential in some older properties. For example, a 1600 sqft house that has two living rooms...my immediate thought was "why not break down that wall and create an open concept living area or convert the second living space into another bedroom?" 

I seek advise because I want to know if I'm understanding the concept of "adding value" to a property, beyond cosmetic repairs, correctly. Please share your thoughts, experiences, or expertise on the subject matter. Thank you! 

Respectfully, 

Joseph Kim 

BP Community, 

I am currently under contract on a duplex in Lawton, OK. The purchase price is $205,000, the seller agreed to cover all the closing costs, and I'm putting 0% down since I'm financing the property with a VA loan. With that being said, my initial costs only consists of the inspection, appraisal, and earnest money ($2000 total). Each unit has 2 bed 2 bath and I plan to live in one of the units with a roommate. Furthermore, I plan to receive a rental income from the tenants in the other unit, from my roommate, and myself that should total to anywhere between $2100-$2400 (I plan to pay myself the same amount as my current living situation). Additionally, my expenses range anywhere between $800-$1000. I've crunched out different numbers a million times and my cashflow seems promising yet I'm having some last minute doubts and trouble figuring out whether my investment is "good."

Please give me insight on house hacking a duplex, feedback/constructive criticism on my current contract, or suggestions on anything I may have overlooked as a newbie. Thank you!