Updated over 4 years ago on .
1st House Hack - Beginner Investor
Investment Info:
Single-family residence other investment in Midland.
Purchase price: $250,000
Cash invested: $30,000
House Hack - 2 Houses / 1 Property, 1 Acre . Main House is currently a 3 bed 2 bath 2,000 sq ft, Renovation of will change this to a 4 bed 2 bath. Back House is a in-law suit fenced off from main house 450 sq ft unit.
What made you interested in investing in this type of deal?
After reading Craig Curelops book The House Hacking Strategy I found it the perfect way to buy an entry level property. With lower money down and the ability to be hands on during the renovation made it more appealing to me
How did you find this deal and how did you negotiate it?
I found the deal off of the MLS while working with an agent I met from the local REIA
How did you finance this deal?
With rates right now I was able to go conventional
How did you add value to the deal?
I bought this property knowing there was a change for forced appreciation, house was well lived in with smokers for about 20+ years. While googling best ways to appreciate house and reading multiple books on the subject, I will be adding a 4th bedroom, all new flooring, adding space to living area, paint and other more specific things
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I actively looked for an agent that could speak the investor language, I found one at the local REIA. Ramon Gomez with Keller Williams.
