House Hacking Duplex in Suburb of Akron, Ohio
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Uniontown.
Purchase price: $203,500
Cash invested: $4,500
Currently rehabbing and househacking on one side.
Unit 1- 3 bedroom, 1.5 bath, .7 acre yard, terrific school district.
Unit 2- 2 bedroom, 1.5 bath, .7 acre yard, terrific school district, full basement.
Gross monthly income is estimated to be $2000-2150 upon moving out. Leaving our monthly cash flow to range anywhere from $650-800 conservatively.
What made you interested in investing in this type of deal?
The desire to create a better life, to travel more and to have more financial freedom for my wife and I.
How did you find this deal and how did you negotiate it?
I found the deal simply posted on realtor.com. Our realtor is a close personal friend who negotiated on our wishes on our behalf. The seller paid all closing costs and slightly over $4k in repairs to the property.
How did you finance this deal?
FHA loan with a 2.6% interest rate over 30 years.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Timothy Finn
Remax
https://www.remax.com/real-estate-agents/timothy-finn-canton-oh/100419493