All Forum Posts by: Mitchell Wildman

Hey skye i was faced with a similar obstacle when living in Indiana there wasnt much in the mutli family space. I over came this by buying a single family house and renting out extra bedrooms and also did a live and flip with that property. If you are set on buying a multi family property and want your own space you might have to look a little further out then your home town if you want to stay in Kentucky I would recommend bowling green the area is really growing and has a growing college in town as well hope this helps and good luck!

Investment Info:

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

Purchase price: $313,000
Cash invested: $17,000

Finally moved out of Indiana and landed in Utah! I Purchased a 3 bed 2 bath home with a finished basement including a mother in law suit. I turned the property into a duplex with myself living in the basement while renting out the upstairs 2 bed 1 bath for 1800 while my mortgage payment is 2000 i get to live for about 400 bucks a month after all expenses. Just getting started if you read this would love to connect and find partners to take my investing to the next level!

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

I liked this deal because in this crazy market we invest in a feel the safest and most effective way to invest is house hacking I was able to find a house that had been on the market for over 60 days that i saw the potential to turn it into a duplex by just adding a door upstairs. The pervious owners had started to finish the detached garage as well which come spring time i will turn into a living space for myself and rent the upstairs and basement separately for 2800 a month

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

I found this deal through my real estate agent on the mls and had been sitting for some time and was able to negotiate the seller paying for closing cost and also paying for a whole house repipe to fix pour water pressure

How did you finance this deal?

conventional 30 year mortgage

How did you add value to the deal?

I removed all the wood paneling and tile ceiling in the basement and refinished all the drywall finished with new paint trim cabinets and appliances, upstairs had been remodeled previously but I scraped off the popcorn ceiling and did a fresh coat of paint everywhere

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

The Wiser group is a fantastic real estate agent group and luneta home loans killed it from beginning to end make sure everything went smooth at closing

Investment Info:

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

Purchase price: $313,000
Cash invested: $17,000

Finally moved out of Indiana and landed in Utah! I Purchased a 3 bed 2 bath home with a finished basement including a mother in law suit. I turned the property into a duplex with myself living in the basement while renting out the upstairs 2 bed 1 bath for 1800 while my mortgage payment is 2000 i get to live for about 400 bucks a month after all expenses. the pervious owners had started to finish the detached garage as well which come spring time i will turn into a living space for myself and rent the upstairs and basement separately for 2800 a month cash flowing around 600. Just getting started if you read this would love to connect and find partners to take my investing to the next level!

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

I liked this deal because in this crazy market we invest in a feel the safest and most effective way to invest is house hacking I was able to find a house that had been on the market for over 60 days that i saw the potential to turn it into a duplex by just adding a door upstairs

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

I found this deal through my real estate agent on the mls and had been sitting for some time and was able to negotiate the seller paying for closing cost and also paying for a whole house repipe to fix pour water pressure

How did you finance this deal?

conventional 30 year mortgage

How did you add value to the deal?

I removed all the wood paneling and tile ceiling in the basement and refinished all the drywall finished with new paint trim cabinets and appliances, upstairs had been remodeled previously but I scraped off the popcorn ceiling and did a fresh coat of paint everywhere

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

The Wiser group is a fantastic real estate agent group and luneta home loans killed it from beginning to end make sure everything went smooth at closing

Yes I would love to attend! 

Hey everyone I just purchased my first multi family home which I’m going to house hack. With the purchase I’m also moving from northwest Indiana to Ogden Utah and was wondering if there’s a bigger pockets meet up around? If not interested in starting one if anyone in the area would like to connect! 

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $182,000
Cash invested: $6,000
Sale price: $238,000

First home purchase that was my primary residence and while living there i used my trade skills to finish the basement and remodel the bathroom and was able to get the home right around when covid first started and felt like i sold at a very high point in my area but am now looking to take my gains and my follow my passion and move out west and scale a portfolio of long term rentals

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $182,000
Cash invested: $6,000
Sale price: $238,000

Yes the plan is to move there then start investing there and i figured i could try and kill two birds with one stone by finding a multi family and living in one of the units (house-hacking), but I am looking for more long term rentals and i am also an electrician so i have some knowledge in the trades and want to eventually get into the BRRRR process

I currently live in NorthWest Indiana I just sold my first house which i finished the basement and remodeled a bathroom and made some money on that I'm a HUGE skier and dirtbike rider so looking to move to the mountains my strategy is to buy a multi family home and house hack while improving property while living in it then in a year or two refinance and the start the BRRRR my biggest question right now is where is the best places to invest close to some ski resorts im currently looking at ogden/salt lake city and have been for about 6 months and it hasn't gone well thinking maybe logan UT, Pocatello ID, Blackfoot ID, grand junction CO, Rock springs WY any other insight is helpfully thank you!