House Hack 1st Purchase SFH (Now Current Rental)
Investment Info:
Single-family residence buy & hold investment in Stayton.
Purchase price: $250,000
I purchased this SFH April of 2018. It was my first home purchase and I was 21 years old. Due to the size and number of bedrooms (4 Bed/3 Bath), I house hacked for the first year and a half and rented some rooms to my friends (Paying almost all of my mortgage payment). I now have it rented out, and making a 10% return each month.
What made you interested in investing in this type of deal?
I found house hacking a very effective way to invest in my first home (luckily I had decent roommates/renters). Being able to own my own home at 21 years old, and have my friends/roommates pay my mortgage each month?? Sign me up!
How did you finance this deal?
Conventional Loan
What was the outcome?
Current rental making a 10% return each month.
Most Popular Reply
Awesome! I wish I knew more about house hacking before I bought my primary residence. I guess I am house hacking now...my cousin lives with me but I'm charging him very little. Still...something is better than nothing!
Looks like a fun property. Well done, and kudos to starting out so young!