Updated over 2 years ago on . Most recent reply
Graduate School Househacking Kickstarter
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $270,000
Cash invested: $14,000
This is my first real estate property. I acquired the property in 2020 as a househack while working on my graduate studies at Virginia Tech. Now living in the Washington DC area, I manage the property as a long-term rental.
What made you interested in investing in this type of deal?
It was the easiest way to gain real estate experience as an investor and landlord.
How did you find this deal and how did you negotiate it?
I saw the property on Zillow and emailed approximately 10 realtors about purchasing the property. As it turned out, the home was off the market, but one of those realtors was able to close the deal because of his personal connections.
How did you finance this deal?
Self-financed, but had to have a parent co-sign the loan to obtain financing.
How did you add value to the deal?
Did not
What was the outcome?
Successful long-term rental.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
My realtor, Joe Racek.