Real Estate Deal Analysis & Advice

User Stats

4
Posts
3
Votes
Megan Mangold
  • Real Estate Agent
  • Manchester, NH
3
Votes |
4
Posts

Two year house hack in Keene, NH

Megan Mangold
  • Real Estate Agent
  • Manchester, NH
Posted Aug 2 2019, 13:54

Investment Info:

Small multi-family (2-4 units) other investment in Keene.

Purchase price: $117,000
Cash invested: $10,000
Sale price: $168,000

Two family in a college town

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

House hacked for 2 years while bartending! Didn't want to pay rent anymore!

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

Found it on the MLS with a Realtor, was very fortunate that the seller was motivated and sold low.

How did you finance this deal?

FHA

How did you add value to the deal?

Repainted while living there, spruced it up.

What was the outcome?

Great, I bought and sold at the right times in the market. My tenants paid the majority of my mortgage while I lived there and I walked away with a lump sum of money to start my real estate career with!

Lessons learned? Challenges?

Being a landlord is more involved than I initially thought and that I should be very careful renting to friends and also who I partner with.

Loading replies...