Updated over 2 years ago on .
New investor purchase 1st home to house hack
Investment Info:
Mobile home buy & hold investment.
Purchase price: $176,300
Cash invested: $6,000
3 bedroom 2 bathroom double wide Mobile home. 1484 Sq ft.
What made you interested in investing in this type of deal?
It was what I could afford at the time. Was tired of paying rent, wanted more space and wanted to get away from NY winters. I wanted to be close enough to a big city for entertainment when I wanted but far enough for peace and quiet when I don't.
How did you find this deal and how did you negotiate it?
Found the deal on Realtor.com and used a local agent to help negotiate it.
How did you finance this deal?
VA home loan through local lender.
How did you add value to the deal?
No value added yet.
What was the outcome?
Closed on the home July 5th 2023 and will move in on the 15th.
Lessons learned? Challenges?
Learned alot about DTI and the actual process of buying a home. Challenge as dealing with a part-time listing agent who didn't speak English and sellers who were on vacation at the time of sale.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes. Rebekah Bailey in the Dallas-Fort Worth area as my agent. And Fairway Independent Mortgage Company as my lender.
