My First Deal (House Hack)
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $197,500
Cash invested: $16,000
My first property & it's a house hack, I installed a washer and dryer on the top floor to rent out a full 2 bed 1 bath upstairs, and I live in the basement with a 2 bed one bath + washer and dryer. Completely separate entrance at the back of the house allows for a nicely separated upstairs unit and a fair price for rent. it doesn't cashflow right now but what I end up paying to live here is pretty much all going towards the principal.. It's right around $300 a month for me to live here with all utilities and mortgage included.
What was the outcome?
i know this is a better than nothing, but did i think big enough? for a low to now money down deal. could i have gone bigger?