My first property - The House Hack with Cash on Cash ROI
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $158,500
Cash invested: $7,500
Purchase price-------$158,500
Repair Costs-----------$22,000
Current Valuation---$325,000
Bought this property as a foreclosure; first property I ever purchased. It started as a house hack duplex but this quickly caught the BRRRR bug for me. Over the course of 2 years I remodeled this property and pulled a HELOC to invest in more properties.
What made you interested in investing in this type of deal?
I originally purchased as my personal residence to make a little extra income house hacking.
How did you find this deal and how did you negotiate it?
Purchased off the MLS with a realtor.
How did you finance this deal?
FHA Conventional loan
How did you add value to the deal?
Remodel
What was the outcome?
House hacking worked great, remodel added value, still a great rental.