Updated about 4 years ago on . Most recent reply
Small Multifamily Home
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $730,000
Quaint multifamily home in the heart of Hawaii. This duplex features an open floor a2 bedroom 2 bathroom unit, & a 4 bedroom 2 bathroom unit.
What made you interested in investing in this type of deal?
This type of deal opened my eyes to all of the benefits of investing. Specifically when it came to "house hacking" for our first time!
How did you find this deal and how did you negotiate it?
We found this deal through a local real estate agent.
How did you finance this deal?
We financed this deal using my VA loan benefit.
How did you add value to the deal?
I added value to this deal by adding a kitchen & washer and dryer hookups to the home. This allowed us to divide the home easily into a duplex.
What was the outcome?
This allowed my husband and I to reap the benefits of house hacking!
Lessons learned? Challenges?
Lessons learned early on...
One of the major lessons we learned early was to ALWAYS complete a lease agreement - AND stick to it. We learned the hard way that we will not allow large pets in any of the homes that we rent.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
We have always worked closely with a property manager and mentor of ours in Hawaii. If anyone would like her information, please reach out to me directly!