House hack turned into yearly rental
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $85,000
Cash invested: $20,000
Sale price: $195,000
First property, bought as a house hack. Ended up moving to Chattanooga and rented it out a few years, sold it when tenants moved out
What made you interested in investing in this type of deal?
Wanted something that would make a good rental without major repairs needed
How did you find this deal and how did you negotiate it?
It was bought on Hubzu
How did you finance this deal?
5% down conventional mortgage, used 401k funds to pay down payment
How did you add value to the deal?
Did a lot of the work myself
What was the outcome?
Great rental for a few years and great profit to reinvest into other deals once it was sold.
