Updated over 2 years ago on . Most recent reply
Triplex in Hollywood, FL
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Hollywood.
Purchase price: $540,000
Cash invested: $76,200
This is our second house hack. Renting out unit 1 (2/1) for $2100 and Unit 2 (2/1) for $2200. Unit 3 is a 1/1 that we had remodeled and we are currently living in it. This unit will bring in around $2000 when it's rented.
How did you finance this deal?
FHA loan
How did you add value to the deal?
We brought all units to market rent. Unit 1 was renting for $900 a month and Unit 2 was renting for $1000 a month. We currently get $2100 and $2200 for those respectively. Additionally, we remodeled unit 3, which was dilapidated and getting no rent and it will get about $2000 a month once we move out. That would bring cash flow for this property to around $1500.