1st rental property (duplex)

[Kalon Baker]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in North Salt Lake.

Purchase price: $566,624

House hacking a duplex in N Salt Lake. This is my first rental property so looking to learn as much as possible.

How did you find this deal and how did you negotiate it?

Found this deal through the MLS, it was an extremely hot market this summer in Utah so I put $10K down in earnest money and $25K over the listing price. With multiple offers rolling in, I needed to make a attractive offer to get considered for this property.

How did you finance this deal?

Through the VA loan.

How did you add value to the deal?

House hacking this deal and looking for a roommate to cut my living expenses even more. Bottom unit is a 3bd, 1ba that has recently been updated with a current tenant. I’m making cosmetic upgrades to the top unit.

[Dmitriy Fomichenko]

Congratulations on this investment @Kalon Baker !