Small multi-family (2-4 units) buy & hold investment.
Purchase price: $415,000
Cash invested: $10,000
Owner occupied multifamily with four one bedroom units. Purchased vacant. I did floors and bathrooms in each unit and rented them out.
What made you interested in investing in this type of deal?
I wanted to own rental real property and need a place to live. This satisfied both.
How did you find this deal and how did you negotiate it?
Found on Zillow, made the first offer with the only contingency being financing
How did you finance this deal?
How did you add value to the deal?
Renovated bathrooms and did new floors.
Lessons learned? Challenges?
Biggest challenge was finding budgeting my time. Lesson learned was that I enjoy and am good at placing tenants.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Jessica Tomlinson was my realtor. She is amazing!
@Forrest L. Awesome name!
Congrats on the rental! I'm looking for my first right now as well with the intent to house hack. Let me know if you have any tips after finishing up.
@Forrest Owen have any questions? I have all units filled and interior renovations done. Now just renovating the garage.
@Forrest L. how'd everything turn out with cash flow? Is it cashflowing with you living there?
@Forrest Owen I sent you a DM
Congrats that’s a great price on a 4-family in Lowell! Enjoy the househack and learn everything you can from the experience.
By living how most people wont now you’ll be able to live how most people can’t later!
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you