Personal Residence House hack with the VA loan

[Cordell Martindale]

Investment Info:

Single-family residence buy & hold investment in Fort Worth.

Purchase price: $265,000
Cash invested: $4,000

House Hacking- Purchased the property with the VA loan 0% down. Renting 2 of the 3 rooms out.

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

Needed a place to live but decided to house hack to pay the mortgage.

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

This property was under contract when we found it. Reached out to the Listing agent to put in a back up offer and turns out the same day the previous interested party backed out the same day.

How did you finance this deal?

VA loan- 0% down.

How did you add value to the deal?

Gutters, Sod, small finish outs throughout the house.

What was the outcome?

Its been great. The area continues to appreciate!

Lessons learned? Challenges?

It's difficult to absorb everything about an area when you travel there only 1 time. Build a team and trust them when you are remote.

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

Yes Mylo Draven was an amazing Loan Originator here in DFW, TX. Feel free to reach out and message me for his info.

[Doug Spence]

@Cordell Martindale Congrats! You mentioned this is a house hack. How much are you renting the rooms for and how much of your mortgage does that cover?

What's your next deal going to be?

Thanks for sharing and keep us all updated on your progress!