All Forum Posts by: Jacob Gomes

Thanks @Dmitriy Fomichenko!!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in St. Louis.

Purchase price: $226,000
Cash invested: $12,000

Duplex where I House Hacked for the first year then moved out and now rent out both units!

Investment Info:

Single-family residence buy & hold investment in Memphis.

Purchase price: $53,000
Cash invested: $64,000

Single family home we bought for $53,000 cash, invested $11,000 in, worth $72,000 as of 08/2021.

What made you interested in investing in this type of deal?

I wanted to explore a single family home with long term rental potential that needed a bit of wok

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

Found it on Zillow, connected with the listing agent, and operated the deal as the buying agent/purchaser.

How did you finance this deal?

Cash

How did you add value to the deal?

We knew what the home was worth fixed up and estimated rehab costs, once applied the home was worth $6000 more than the total cash investment and is now experiencing appreciation.

What was the outcome?

Home is worth 72k currently so we have more equity than cash investment. Cash flow is $700/mo

Investment Info:

Single-family residence buy & hold investment in St. Louis.

Purchase price: $159,000
Cash invested: $20,000

Single family residence that I moved into and lived in one room while I rented out the other rooms to pay the mortgage and cash flow the property.

What made you interested in investing in this type of deal?

It was the next step in the house hacking process.

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

My St. Louis Real Estate Agent.

How did you finance this deal?

Conventional 5% down mortgage.

How did you add value to the deal?

Built a totally new kitchen and replaced some features in the bathrooms.

What was the outcome?

$350/mo cash flow.

Lessons learned? Challenges?

Put the rehab work in in the beginning.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in St. Louis.

Purchase price: $226,000
Cash invested: $12,000

Duplex where I House Hacked for the first year then moved out and now rent out both units!

What made you interested in investing in this type of deal?

This was the tried and true method of beginning to build a real estate portfolio and the easiest way to get started investing with low level cash investment.

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

Through my agent I worked with in St. Louis

How did you finance this deal?

I saved $150 every week for an entire year for the down payment then began looking for a property. I think put another 4k into a new furnace after owning the property for 2 years.

What was the outcome?

$400 monthly cash flow

Lessons learned? Challenges?

Should have bought a 4-Plex!