First House-Hack Huntsville, Alabama
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Toney.
Purchase price: $70,000
Cash invested: $45,000
PURCHASE PRICE: $70K
RENOVATION + HOLDING COSTS: $45K
ALL IN: $115K
Purchased this property from the seller with owner financing at 15% down and 5% interest a month - this brings my monthly payment to the seller around $630 a month.
We are house-hacking one unit of this property and renting out the other two units. The other two units rent for $750 a month and $1,000 a month. After expenses and maintenance we roughly cash-flow $600+ monthly on this property WHILE STILL living here.
What made you interested in investing in this type of deal?
House-Hack BABY!
How did you find this deal and how did you negotiate it?
Facebook Marketplace
How did you finance this deal?
Owner Finance
How did you add value to the deal?
Roof, HVAC, flooring, paint, etc
What was the outcome?
$600 cashflow before refi
