Updated over 5 years ago on .
Ultimate House Hacking
Investment Info:
Single-family residence buy & hold investment.
I purchased this single family house a few blocks from the water in Jax beach with a conventional loan. I turned an addition (looks like it used to be a garage), into a luxurious studio Airbnb. My boyfriend and I are living in the house with two friends while we are renting out the studio to Airbnb. We are not only living for free, we are cash flowing $500+ a month. Now searching for my next property for BRRRR.
What made you interested in investing in this type of deal?
Airbnb does well in this area and this my first property I ever owned and I did not want to rent anymore.
How did you find this deal and how did you negotiate it?
Zillow and went into a bidding war.
How did you finance this deal?
5% down conventional
How did you add value to the deal?
Adding a separate unit for airbnb and updating the house aesthetic.
What was the outcome?
Living for free while cash flowing!
Lessons learned? Challenges?
I was a personal trainer at the time and anyone can do this! I am now a real estate agent from falling in love with this industry.
We also made awesome connections for our future properties.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am a real estate agent. I also worked with DJ Sheil (agent) who is an amazing mentor.