Updated over 3 years ago on . Most recent reply
Raleigh House Hack Before COVID hit in 2020
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $215,000
Cash invested: $7,000
House Hacking. A nice 3 bedroom, 2.5 bathrooms. Found roommates through Facebook and have been friends with them since.
What made you interested in investing in this type of deal?
Close to downtown. Close to the college to make it appealing to young people
How did you find this deal and how did you negotiate it?
On the MLS. We negotiated the inspection which saved me $8500.
How did you finance this deal?
FHA loan
How did you add value to the deal?
Added nice furniture and updated things around the house
What was the outcome?
In total I get $725 for one room and $825 for the other room.
Lessons learned? Challenges?
You have to be flexible with challenges that come up. Usually, big problems are just a bunch of little problems.
Most Popular Reply
@Jason Cook any idea what the value of the house is now? May make sense to sell now that you’ve been there two years and roll that into something larger! Even another larger house hack!