My First House Hack - Logan Square Chicago

[Darren Bloomfield]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $489,000
Cash invested: $25,000

Renting the first unit to tenants. Living on the second floor and running a STR out of a spare bedroom. House hacking

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

Great location. FHA loan has a low downpayment which allowed me to get into the property and start building equity.

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

Zillow/ MLS

How did you finance this deal?

3.5% down FHA

How did you add value to the deal?

Rehabbed bathroom. Fresh paint. Cosmetic upgrades outside. Saving for a kitchen/bathroom rehab on my unit when moving out after 1 year.

[Mark Ainley]

@Darren Bloomfield I created a guide for self managers specific to house hacking in Chicago that I will DM you.  Congrats and love seeing new investors break onto the scene.