Updated over 5 years ago on . Most recent reply
Fourplex Buy and Hold
Investment Info:
Small multi-family (2-4 units) fix & flip investment.
Purchase price: $450,000
Cash invested: $28,000
Sale price: $650,000
We initially bought this property to hold it for a long time. We house hacked the property with the idea if living there for two years. We were able to buy a house after two years and keep this property as an investment.
Due to the current appreciation in this market, we decided to sell and move to something bigger. Currently looking for properties outside the Boise area.
What made you interested in investing in this type of deal?
The potential this property had.
How did you find this deal and how did you negotiate it?
Trough the MLS.
How did you finance this deal?
We used a FHA and housed hacked the property for two years.
How did you add value to the deal?
Remodeling each unit an raising rent.
What was the outcome?
Great!
Lessons learned? Challenges?
We had issues at the beginning. It takes some time to get any property operating smoothly.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
N/A