Updated about 16 hours ago on . Most recent reply
House Hack #1
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $515,000
Cash invested: $18,500
Co-living house hack with 9 bedrooms 4 bathrooms in a single family home.
What made you interested in investing in this type of deal?
Having to invest very little money upfront and the ability to cash flow more than $1000 a month while living there.
How did you find this deal and how did you negotiate it?
On the MLS and I am a licensed agent and represented myself and just negotiated back and worth with the listing agent.
How did you finance this deal?
FHA 3.5% down
How did you add value to the deal?
Added 3 bedrooms to the house.
What was the outcome?
Living for free while also getting paid to live there while it is fully occupied.
Lessons learned? Challenges?
Even if they are the best DIYer's they are going to cut corners and you are going to have to fix those problems that will later arise because they cut those corners.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Myself! If you are planning on house hacking you should work with an agent who has done it themselves and at the very least has investment properties themselves but defiantly better if they can speak from experience.