Small multi-family (2-4 units) buy & hold investment in Los Angeles.
Purchase price: $585,000
Cash invested: $43,875
"House Hack Property"
Tenants Paying: $3,000 + they pay all their utilities
My Payment: $500
Purchase price: $585,000 in May 2019
Property was appraised early this year for $700,000
What made you interested in investing in this type of deal?
House Hacking + Appreciation
How did you find this deal and how did you negotiate it?
MLS. I negotiated using skills.
-I made an offer with an escrow already opened and seller only had to sign (escrow offered 50% off seller escrow fees)
-low contingency timeline
-No buyer credits
How did you finance this deal?
-conventional financing - 5% down
How did you add value to the deal?
refurnished all cabinets and paint
What was the outcome?
higher rent collected
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No. This deal was tough. All other parties were difficult
Congrats on your investment @Jose Blandon !
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