2nd House Hack- 12 months later.
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $267,000
Cash invested: $40,000
Sale price: $267,000
Contributors:
Tim Swierczek
Closed on my 2nd deal! I acquired this deal 12 months after purchasing my first house hack- it's another 4/2 duplex. I was able to save enough for the down payment by lowering my housing expense to ~$500/mo through the first house hack and living frugally.
This deal was purchased by the previous owners with the intention to flip it and make a quick sale. The previous owners listed this originally for $300k and with rising interest rates it sat on the market for a few months. I was able to purchase it for $267k with 6% seller paid closing & 15% DP conventional loan through my lender Tim Swierczek and agent Matt Bartholomew. This property is already rehabbed and ready to go, I already rented the top portion out for $1,300 per month. This will make a great buy and hold investment and will be a great refinance opportunity with built-in equity when rates go down. Now that I don't have to rehab this place like I did the last one I will have an awesome opportunity to dive deeper into other parts of real estate during 2023.
