Successful House Hack
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Danbury.
Purchase price: $375,000
Cash invested: $60,000
Hello there!
I purchased this multi-family using a house hacking strategy.
What made you interested in investing in this type of deal?
My dad has been involved in the real estate scene for a while now.
How did you find this deal and how did you negotiate it?
Prior landlord was complaining about the property and the tenants. We overheard them and asked a few more questions....
How did you finance this deal?
Using a traditional FHA loan.
How did you add value to the deal?
We ended up adding extra bedrooms with the available space present and raising the rent from $995 to $1700/month.
What was the outcome?
Awesome. Lived in one of the units for about a year and then afterwards had most units rented out.