Manassas Va House Hack

5 Replies

Investment Info:

Townhouse other investment in Manassas.

Purchase price: $252,500
Cash invested: $5,200


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

Living rent/mortgage free.

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

Craigslist and with the help of an agent.

How did you finance this deal?

My own funds for the down-payment (1%) + closing costs. I used a VHDA loan program and 30 fix-rate conventional loan.

How did you add value to the deal?

I did the demo and most of the renovation myself.

What was the outcome?

Cash following property and living rent/mortgage free.

Lessons learned? Challenges?

I want to work on my real-estate business not for it. Long renovation times.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, my agent, lender, and contractors.

Hi and congratulations. I am in Manassas and I am looking to do a live-in then rent with my current property which seems to be around the same purchase range as yours. If you don't mind sharing, what is the cashflow like for you?

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you