My "House Hacking" Duplex Investment in Los Angeles

1 Reply

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Los Angeles.

Purchase price: $585,000
Cash invested: $43,875

"House Hack Property"

Mortgage: $3,500
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?

repaint interior
refurnished all cabinets and paint
new countertops

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

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