Young Married Couple's First House Hack

[Jon Schumm]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $275,000
Cash invested: $12,000

This is our first house hack. My wife and I bought this split level house, and Airbnb'd the bottom floor. This allowed us to have enough cash flow for me to switch careers, and not have to be financially worried.

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

The potential of making money off of our house.

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

My wife found it on the MLS.

How did you finance this deal?

FHA 3.5% Down

How did you add value to the deal?

Fixed up the bottom bathroom to be a full bath instead of a half bath. Then we painted the walls ourselves, and fully furnished it.

What was the outcome?

It covers 125% of our mortgage, and continues to climb.

Lessons learned? Challenges?

Just do it.