First Investment With House Hack

5 Replies

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $215,000
Cash invested: $20,000

Contributors:
@Joe Sadusky

House hacking for the first year and a half of ownership and then renting out entire home.

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

I wanted to acquire my first investment with little initial capital.

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

MLS.

How did you finance this deal?

FHA.

Hey Caleb. Congrats on acquiring your first house hack!

What tricks have you learned so far? 

Would you recommend this strategy to other new investors?

@Joel Calkins Thank you for your comment!

I have only been in the property for 2 weeks now but a trick for starting out is to find reliable people that you would enjoy living with as tenants. As this will make your house hacking experience all the more easier. I would recommend this strategy to everyone! It is an awesome way to eliminate your largest expense (housing). It is also a fantastic way to get your foot in the door with REI and some great first hand experiences of what it means to manage a property.

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