First House Hack in Colorado Springs

[Tanner Pile]

Investment Info:

Condo buy & hold investment.

Purchase price: $256,000

First house hack! Two bed two bath condo. Renting out the master bedroom and bath with walk in closet, covered parking, and utilities included. I cover the rest of the mortgage, utilities, cap ex, and insurance and pay around $300-$400 a month. I'm a 50/50 owner with my mom who brought in the money for the down payment.

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

In Colorado Springs it is hard to house hack and be able to cash flow or break even. From the options available in my price range and criteria that is how I selected to go for this one.

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

MLS with a realtor

Lessons learned? Challenges?

Having a paying roommate is a challenge but is a great learning experience