Updated over 4 years ago on . Most recent reply
My first house hack at 23
Investment Info:
Small multi-family (2-4 units) other investment.
Purchase price: $35,000
Cash invested: $18,000
Sale price: $60,000
First home, put 6k down and then rented 3 rooms for a cash flow of 400-500 dollars a month.... Hail damage that insurance gave a ridiculous amount of money for and i was able to put 12k back into the mortgage the first year. Sold and moved to Colorado... House is worth over 200k now :(
What made you interested in investing in this type of deal?
that I could rent out rooms
How did you find this deal and how did you negotiate it?
Family
How did you finance this deal?
Traditional, 20% down
How did you add value to the deal?
got it off market
What was the outcome?
Good starter house that got my toes wet into rental properties... My second love!
Lessons learned? Challenges?
NO FRIENDS!!!
Older houses could be in a historical district and that dictates what you can or cannot do. Sometimes can cause a lot of headaches.