Just bought my first property and house hacking with a roommate!

[Danny Maller]

It's been a long process since making an offer 4 months ago in January, but I'm officially the owner of a soon to cashflow 2 flat with a garden unit, each as 2 bed 1 baths! I'll be owner occupying the finished garden unit and currently looking for tenants to occupy the nice and spacious 1st and 2nd floor units. Initially I was going to live in the garden solo until a friend out of the blue asked where I was living and things just fell into place. I just scheduled my first walkthrough for this Saturday as well and am double checking all what I need to prepare to show the unit. I couldn't be more excited as my adventure and knowledge base all started here with BiggerPockets and the fine hosts and guests of the podcast. Cheers!!!

[Danny Maller]

Hi @Kris Mo, I spent about a year educating myself online and through the BP podcast. Once I found a place that looked to cashflow very nicely I went for it! It will need a new roof and a bit of masonry soon which I'll tend to over the next year once I have some income flowing. I felt a lot of trust with my inspector and valued his opinion when making my decision to go through with it if I could put in the sweat equity. $205k building, and with a 3.5% fha loan, owner occupied, and in a low to moderate income area, with lender credits, I only put down $4,500 with less than $1,800 in upfront costs, inspection, appraisal. Like holy moly I would have done this sooner knowing now that is all it cost.