Updated about 1 year ago on . Most recent reply
1st House Hack 19 year old investor!
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $180,000
Cash invested: $19,000
Contributors:
Stephen Schmitt
First investment house hack!
What made you interested in investing in this type of deal?
Projected CF after the first year is $650 after PITI, Vacay, Repair, capex, Etc.
Purchased under market rent as tenants were paying $880 m/o. After one week of ownership, using the Binder Strategy from the Dion Talk I was able to increase rents to $1,200 m/o a 36.6% rent increase while having the tenants stating I am the most solid landlord they have had after doing minor repairs for rent increase !
How did you find this deal and how did you negotiate it?
found by my amazing realtor in A class neighborhood! first place winners offer fell thorough and as a result I had the second highest offer!
How did you add value to the deal?
Currently performing DIY Rehab within house hack to get the other unit rent ready while learning all I can to perform the "who not how" during my next investment!
