My first Unit, Condo, house hack

[Josh Fisher]

Investment Info:

Condo buy & hold investment in Corona.

Purchase price: $272,000
Cash invested: $1,500

2 bed 1 bat h condo, long term rental.

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

House hack, didn't know I was investing.

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

Purchased through FHA Loan/Relator.

How did you finance this deal?

FHA loan with 3.5% down

How did you add value to the deal?

Furnished the house, it had already been fixed up.

What was the outcome?

Converted to long term rental.

Lessons learned? Challenges?

Oh my, so many mistakes. Being a landlord is tough. Had a renter that didn't pay. Have been losing money on the deal, looking to get it refinanced to make it more profitable. After the refinance, I will most likely break even every month. However, the equity in the house is +20%. So that's a benefit.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Agents, and lenders. I really like the agents, was not so happy with the lenders. Looking to do the next deal with the same agents.