Updated over 4 years ago on . Most recent reply
My First Rehab Four Plex
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Homer.
This deal was a combination of the Brrrr strategy and a house hack.
What made you interested in investing in this type of deal?
I was interested in this property because I noticed it was vacant as well as needing a fair amount of rehab work. I am a contractor so I was able to preform most all of the work required myself. Once work was completed I had quite a bit of equity in the deal as well as decent cash flow.
How did you find this deal and how did you negotiate it?
I found this deal driving around on weekends looking for prospects. I contacted the owner and over a period of time arranged the deal.
How did you finance this deal?
HELOC and owner financing.
What was the outcome?
I rehabbed one unit, moved into that unit and rehabbed the rest of the units while living there.