Buy and Hold House Hacking

[Emma Hustis]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $456,000
Cash invested: $19,000

A property that I bought with a partner/teammate. House hacking it at the moment, plan to move out of it in a year and a half and put long term renters in it.

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

The location of this house is going to be the reason that it will be valuable for the long term. 10 minute walk down to Lake Pend Orielle with plans to build a community beach in the near future. I'm interested in buying and holding- this house is going to make a great long term rental.

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

I am a Realtor so I found this deal on the MLS and negotiated it on behalf of myself. I partnered with a teammate for this one because I haven't been a Realtor for 2 years, so I am not able to qualify for a traditional loan.

How did you finance this deal?

Myself/my fiancé/ and my business partner all got a conventional loan with 10% down. The partner brought the down payment.

How did you add value to the deal?

I contributed my Real Estate Commissions which were around 13,000 and my finance and I are currently using the house as our primary residence so we were able to get a low interest rate.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I would highly recommend myself as a real estate agent. :)