House Hacking on a brand new 4 plex
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $918,000
Cash invested: $184,000
NOTE: Couldn't select the right City & Province (should read Sherbrooke, Quebec, Canada)
Brand new 4 plex bought before the Covid construction cost craziness
What made you interested in investing in this type of deal?
Reducing my cost of living. Going from single family house to a 4 plex house hacking.
How did you find this deal and how did you negotiate it?
Contractor website
How did you finance this deal?
House equity
How did you add value to the deal?
No value add at this point
What was the outcome?
Cutting my housing expense by 50%
Lessons learned? Challenges?
I was getting rubbed (overcharged) by the contractor for any modification during the construction. Next time, I will plan more diligently....
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Not on this deal.