All Forum Posts by: Tryn Mesarch

Investment Info:

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

Purchase price: $415,000
Cash invested: $65,000
Sale price: $515,000

House hacked with this beautifully remodeled duplex

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

My wife and I wanted to continue investing in properties and grow our portfolio in a more stable manner for our area.

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

We worked with a realtor that sent out auto-mailers from our local MLS. I saw the listing price and photos and immediately knew that we had a winner. Our realtor had a reputation of closing deals and estimated the appraisal value very accurately for our offer.

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Held property through a great inflationary period.

What was the outcome?

We became overleveraged with debt due to schooling and personal lifestyle, unfortunately. We sold the duplex for $515k and are working on being in a debt-free lifestyle before jumping back into real estate.

Lessons learned? Challenges?

Have your personal finances in order and don't utilize HELOCs. Hold an emergency fund for the property itself. Don't rent to or make special accommodations for family members, especially when you don't trust them in the first place.

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

Intercap Lending; Jason Snell with Century21 Everest

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $234,000
Cash invested: $60,000
Sale price: $315,000

A single family residence with a separate mother-in-law suite. Upstairs was a 2 bed/ 1 bath. It was renovated to have an open floor plan, new paint, recessed lighting throughout, and LVP flooring. The MIL suite was a 1 bed / 1 bath and had recessed lighting installed throughout. The entire property was fenced in for pets, exterior of the home painted, and a driveway installed.

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

My wife and I were trying to purchase our first home and wanted to house-hack to decrease our cost of living.

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

We utilized an amazing realtor and put in an offer at asking price.

How did you finance this deal?

Conventional loan

How did you add value to the deal?

We tore down a wall to create an open floor concept. The entire interior was repainted a lighter
modern color and LVP flooring was installed. We fenced in the property, added a driveway, and painted the exterior of the house.

What was the outcome?

Property value increased by 135% in 2-years time

Lessons learned? Challenges?

I learned more on the construction side of things to make it smoother, more efficient, and advantageous. I learned where money would have been better placed.

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

Jason Snell with Century21 Everest