My First House Hack and Investment Property
Investment Info:
Single-family residence buy & hold investment in Wichita Falls.
Purchase price: $89,000
Cash invested: $4,492
This is a single family residence that I had previously been renting from the owner. Now, I have purchased this home and am currently house hacking with three other roommates who pay me rent which covers all of my bundle(mortgage, insurance, taxes) and I end up with $150 in cashflow. I was able to purchase through seller financing with zero down and only 4% interest.
What made you interested in investing in this type of deal?
I was tired of paying rent when I realized I could own the property and actually make money while I lived there.
How did you finance this deal?
Seller Financing - Zero down - 4% interest
How did you add value to the deal?
I gave the exterior a makeover and added a bathroom to the master bedroom.
What was the outcome?
Currently I am cash flowing $150 every month and according to comps in the area the property is worth $110,000.
Most Popular Reply
Great job, Nick!