First House Hack in Seward Alaska

[Annie Johnson]

Investment Info:

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

Purchase price: $630,000
Cash invested: $110,000

Finished a new build House Hack. Our family lives in the top unit and the MIL will be a MTR in the winter and a STR in the summer. This will cover 100% of the mortgage.

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

Save on our biggest expense

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

Applied for a loan and found a vacant parcel that allowed nightly rentals.

How did you finance this deal?

Our money and loan

How did you add value to the deal?

My husband did all the finish work in the home.

What was the outcome?

Beautiful home in a great tourist market. Travel nurse is moving in and we are ready to short term rental the property in a few months.

Lessons learned? Challenges?

Our builder did not make our home top priority. He built 3 4-flexes for himself before finishing out home. We almost lost our interest rate of 2.875. Time is important to building. Everything costs more and takes longer

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

Residential Mortgage.