My Second Investment

[Jacob Gomes]

Investment Info:

Single-family residence buy & hold investment in St. Louis.

Purchase price: $159,000
Cash invested: $20,000

Single family residence that I moved into and lived in one room while I rented out the other rooms to pay the mortgage and cash flow the property.

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

It was the next step in the house hacking process.

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

My St. Louis Real Estate Agent.

How did you finance this deal?

Conventional 5% down mortgage.

How did you add value to the deal?

Built a totally new kitchen and replaced some features in the bathrooms.

What was the outcome?

$350/mo cash flow.

Lessons learned? Challenges?

Put the rehab work in in the beginning.