All Forum Posts by: Matt Solis
Matt Solis has started 3 posts and replied 61 times.
Post: My very first house hack!
- Real Estate Agent
- Dallas - Fort Worth Metroplex
- Posts 65
- Votes 56
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $255,555
Cash invested: $30,000
First house hack! Bought this 4 bed 2 bath for $255,555 (20k over asking). House was rent ready and needed no renovations.
Numbers:
Upfront cash invested: $30k
PITI: $1500
Bills: $300
Reserves: $400
Total monthly expenses: $2200
Monthly Gross rents: $2800
Monthly Cashflow: $600
How did you find this deal and how did you negotiate it?
I found the deal on Zillow. It’s in a prime area of DFW, and I knew it would be a multiple offers over listing situation, so I went as far over as my budget would allow. I only beat out the 2nd highest offer by $555!! I had no problems going over listing since I knew it would still cashflow nicely.
How did you finance this deal?
5% down conventional loan
What was the outcome?
$600 a month in cash flow, and a ton equity value due to appreciation.