House hack in New Jersey
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $400,000
Cash invested: $3,650
Side by side duplex, 2 bedroom 1 bath in each. Long standing tenant and this deal was a house hack. I was willing to accept the low monthly cash flow, because I was moving out of a rental townhouse (paying $1900 per month in rent) and instantly make cash flow of $140 per month. My cash on cash was 26.4% approximately.
How did you find this deal and how did you negotiate it?
I found the home online at Zillow.com
How did you finance this deal?
I financed the deal thru VA home loan.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Anyone living in New Jersey and in need of a home inspector, please reach out to H&J Freile home inspection.