OUR FIRST House Hack! Finally all In!
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $85,000
Cash invested: $25,000
2 Family Home in dire need of repairs, burst heat pipes, smelly carpets, old 70's paint colors and carpets, brought to almost like new with lots of elbow grease, patience and a little love
What made you interested in investing in this type of deal?
Needed to stop renting and building somebody else's wealth
How did you find this deal and how did you negotiate it?
Bought it from our Landlord and she gave us a deal we couldn't refuse!
How did you add value to the deal?
My Wife and I worked our tails off doing 99% of the renovations ourselves over the last couple years
Lessons learned? Challenges?
We should have found Bigger Pockets Sooner! We would have been more prepared for the process and most likely have completed this rehab much sooner
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Not yet, just starting to look for our second property.