First Two Doors Secured
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Missoula.
Purchase price: $351,000
Cash invested: $689
This property currently serves as a househack. It was purchased using a VA loan. It is a separated duplex consisting of a 3 bed 1 bath (rents $1400/mo) and a 2 bed 2 bath (I'm occupying, rents $1300). Long term plan will be to occupy the 2 bed 2 bath until a cash out refinance can be utilized. Upon moving out (to another househack w/ VA loan hopefully) the rental will cashflow roughly $350/mo.
The immediate and surrounding area as of 2020 is seeing rapid development and gentrification.
What made you interested in investing in this type of deal?
Low initial capital and a low cost of living (househack). The deal was meant to fill the wholes in the bucket, rather than trying to fill the bucket faster.
How did you find this deal and how did you negotiate it?
Found from my buyers agent, Justin Daymude from Bannack Real Estate Group. The first full price offer was accepted. No negotiation necessary.
How did you finance this deal?
VA loan product by Envoy Mortgage from Scott Lucier
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Justin Daymude
Scott Lucier