House-hack STR LTR, Wasilla, AK

[Andy Palomares]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Wasilla.

Purchase price: $459,000
Cash invested: $5,500

Edit: Air BnB is generating a lot more revenue than expected so we are cash-flowing!
This is an owner-occupy (House-Hack) that we just moved into! First official REI purchase. Almost done with the rehab and will rent one side as a LTR and the other as a STR. Hoping to do a mix of travel nurses and Air BnB for the STR. While we live in it, we will not be making cashflow after expenses, but our mortgage and a few utilities will be paid for by the tenants! BLESSINGS & Happy Investing!

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

Easiest way to get started in our situation. We were transitioning out of the military and took advantage of a VA home loan.

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

MLS. Offered asking price with the guidance of our realtor.

How did you finance this deal?

VA home loan.

How did you add value to the deal?

Cosmetic upgrades and renting a converted basement as an Air BnB.

What was the outcome?

Cash flowing while living here!

Lessons learned? Challenges?

One challenge is that we live above the Air BnB. We have four kids, therefore, it gets pretty loud and stressful because we are worried we'll upset the guests.

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

Reginald Carney from Better Homes and Gardens Real Estate Dream Makers.