Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $410,000
Cash invested: $40,000
4 Bed 2 Bath Duplex (Side by Side identical units) househack. Property had minimal work needed to be done and we bought using an FHA loan! $40k into the deal with down payment, closing costs, replacing furnaces/adding AC, and a couple misc. items.
What made you interested in investing in this type of deal?
Househack! We knew that just getting our first deal would jumpstart our REI journey!
How did you find this deal and how did you negotiate it?
MLS via a great local agent!
How did you finance this deal?
FHA loan 3.5% down
How did you add value to the deal?
Added AC, and brought rents to market. Big value was on money saved to close on the deal.
What was the outcome?
Just signed tenants and are excited to see the outcome!
Lessons learned? Challenges?
We shall see!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Aaron Farr with 4 Degrees Real Estate (Agent) and Jason Paull with Fairway Mortgage (Lender)
