4-Unit House Hack + 203K Loan
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Davison.
Purchase price: $105,000
Cash invested: $68,000
3 unit distressed property, rehabbing and adding an additional 4th unit. House hacked this property using the 203k loan that kicked in $29k in renovation costs and I contributed $39k cash out of pocket. Full remodel that will cashflow while i live for free!
What made you interested in investing in this type of deal?
I wanted to live for free
How did you find this deal and how did you negotiate it?
On the MLS
How did you finance this deal?
203K loan
How did you add value to the deal?
$68,000 in renovations by adding a fourth unit and rehabbing the existing.