Updated about 3 years ago on . Most recent reply
1st Deal - Buy & Hold - House Hacking
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Middletown.
Purchase price: $245,500
Cash invested: $20,000
Buy & Hold - House hacking
First project, renovated mainly ourselves.
What made you interested in investing in this type of deal?
Wanted to get out of renting but also an opportunity for someone else to cover portion of expenses.
How did you find this deal and how did you negotiate it?
Property was initially listed as one family, our real-estate agent found it, and we put our offer in immediately, few percent over asking price.
How did you finance this deal?
FHA loan.
How did you add value to the deal?
1st Fl - cosmetic updates, full remodel to the bathroom, update to kitchen.
2nd Fl - cosmetic updates, updated bathroom fixtures, and insulated outdoor patio - making a three season room.
House - converted to gas heating, redoing fence and improving curb appeal.
