Updated almost 4 years ago on .
My first property in 2019
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $300,000
Cash invested: $14,000
My first property using the house-hack method.
What made you interested in investing in this type of deal?
I was always interested in real estate and at this point I was 1-year out of college with my lease ending soon. I wanted to buy in the DC area but at the time was priced out.
How did you find this deal and how did you negotiate it?
I found it on the MLS with my agent. We were able to secure it 25k under listing.
How did you finance this deal?
I went with a conventional mortgage - 5% down in conjunction with the Maryland SmartBuy Program for student loan payoff.
What was the outcome?
Since purchasing, I've been renting out 2 bedrooms that cover the mortgage.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Lovelle Pierre - Realtor
Donny Bayton - Lender