House Hack West Roxbury
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $709,000
Cash invested: $50,000
I bought a duplex in West Roxbury at the beginning of 2021. I did a cosmetic remodel in one unit and kept the existing tenants in the other unit.
What made you interested in investing in this type of deal?
I am required by my job to live within the city of Boston and I was interested in owning a multi family house.
How did you find this deal and how did you negotiate it?
I found this deal on the MLS.
How did you finance this deal?
FHA loan at 2.25%
How did you add value to the deal?
A minor cosmetic remodel.
What was the outcome?
My cash flow is not great but I am increasing rents annually.
Lessons learned? Challenges?
I wish I took my time on this deal. I ended my lease on my apartment when my offer was accepted. I was not as diligent with my numbers as I should have been. I was very excited to buy a house and rushed the deal. I still turned out in a good spot but I do wish I was a little more diligent.