House hack second home

[JoAnne Lutat]

Investment Info:

Condo other investment in Irving.

Purchase price: $155,000
Cash invested: $155,000

I purchased this condo with a second floor loft as a workspace and rented out (Hacked) loft. The loft rental covered all of the expenses.

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

Because I live in Belton but have extensive knowledge of the Dallas area, I wanted my own space in the Dallas area.

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

It took a while. I wanted something I would be willing to live in myself, so the area had to feel safe and comfortable. I looked and made offers on condos for more than 6 months.

How did you finance this deal?

I paid cash for this deal.

How did you add value to the deal?

By renting the loft to a flight attendant who was often flying, I had a good deal of privacy and still had all of the bills paid by the tenant.

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

I am a real estate agent. I worked closely with the seller who is also a real estate agent.