All Forum Posts by: Brice Allen Bomgardner
Brice Allen Bomgardner has started 1 posts and replied 1 times.
Post: I Bought a place in 2015 and started house hacking
- Rental Property Investor
- Fairbanks, AK
- Posts 1
- Votes 0
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $215,000
Cash invested: $12,000
Currently I am House hacking this property
What made you interested in investing in this type of deal?
Honestly I did not Know anything about investing at the time, I just figured it was a good Idea to buy a place, live in one side and rent the other
How did you find this deal and how did you negotiate it?
Found it through a realtor here in North Pole. I could have probably done a better Job of negotiating. Learning a lot more these days though.
How did you finance this deal?
FHA.
How did you add value to the deal?
Installed new Garage door last summer and windows this coming summer
What was the outcome?
Well I have been able to cove almost all of the mortgage and I now rent out a room for $800 a month which helps out a ton
Lessons learned? Challenges?
Looking back I should have done a lot more research out of the gate. I know a lot more now, so now it is about looking forward and creating more wealth for myself.