Househack room rental deal in Maxwell, TX

[Ryan Antonellis]

Investment Info:

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

Purchase price: $250,000
Cash invested: $15,000

Padsplit househack - live for free plus cashflow

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

Living for free plus potentially making some cash flow, appreciation, equity gains, and tax benefits.

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

Conventional mortgage. Lennar was desperate to sell took off closing costs and bought down the rate etc.

How did you finance this deal?

Conventional mortgage

How did you add value to the deal?

Furnished the other rooms and rented them.

What was the outcome?

Moderate cash flow plus I live for free. Potential for 5th bedroom in the future with less than $1000 of work.

Lessons learned? Challenges?

Tenants in the room rental space can be challenging, need to pre-vet and develop personal relationships

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Agent was good