Updated over 3 years ago on .
Jumping In & Figure Things Out
#4 House Hacking Contributor
- Investor
- CO
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Contributors:
Gina Jeannot
BRRR & house hack Strategy
What made you interested in investing in this type of deal?
Property was ignored by investors due to poor marketing, priced above market and area stigma.
Upon closer look:
-Cosmetic rehab
-Poor management
-Great area
-Provided amenities
How did you find this deal and how did you negotiate it?
MLS
Negotiated reduction in price, new roof, gutters, and washer/dryer
How did you finance this deal?
Conventional
How did you add value to the deal?
Full rehab in both units
Landscape
What was the outcome?
Significant equity build and 3x the rental income
Lessons learned? Challenges?
Jump in, ignore the "guru" rules and figure out what works for you.