All Forum Posts by: John Hagen

Investment Info:

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

Purchase price: $230,000
Cash invested: $50,000

Duplex next to another duplex I own.

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

It is next to another duplex I own. I know the previous owner.

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

Talked with previous owner. Used rent/potential rent to determine price.

How did you finance this deal?

Private lender

How did you add value to the deal?

Will be raising rent in the future.

Investment Info:

Single-family residence fix & flip investment.

Live in rehab. Bought single family property off market to live in and update. Did quite a bit of updating before moving in, working on the rest while living in the home.

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

Tax advantages.

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

Seller called from a sign 5 years prior. Kept in contact with him. He called me when he planned to sell.

How did you finance this deal?

Cash

How did you add value to the deal?

Updating property

Lessons learned? Challenges?

Hard to update a home while working full time and family living in the home.

Investment Info:

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

Purchase price: $215,000

House hacking a duplex. Tenant pays majority of mortgage. 3 bed 2 bath on each side.

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

Had a kid, needed a bigger place. Found a nice side by side duplex.

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

FSBO. Worked with the seller.

How did you finance this deal?

Wife's mortgage.

How did you add value to the deal?

Better tenants.

What was the outcome?

Living for almost free.

Lessons learned? Challenges?

Sharing a wall with tenants can be interesting.

Investment Info:

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

Purchase price: $180,000

Fist rental property. Did a house hack in a 3 plex while fixing it up. Became a on site property manager. Moved out in 2018 into my second house hack.

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

House Hack (didn't know it was called that at the time). Have tenants pay the mortgage and live basically free.

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

Used a Realtor. They accepted my offer after a previous sale fell through.

How did you finance this deal?

FHA Loan.

How did you add value to the deal?

Made updates. Better tenants.

What was the outcome?

Lived pretty much for free for 2 years. Moved out and found a tenant for the unit I lived in. Now is a cash flowing property.

Lessons learned? Challenges?

Old houses need work you wouldn't think about.