House-hacking in Anaheim

[Monica Villalobos]

Investment Info:

Condo other investment.

Purchase price: $420,000
Cash invested: $60,000

House-hacked my 3-bedroom condo at age 26. Rented out one room, took advantage of local down payment assistance programs to obtain a lower interest rate & down payment. Now currently looking for the next investment to house hack.

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

It was a developing neighborhood, with a lot of upside potential that demanded good rents. Property is an end-unit with a 3-car garage in a desirable area of Anaheim in a community with many amenities.

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

Found through builder

How did you finance this deal?

Conventional Financing Plus Local downpayment assistance

How did you add value to the deal?

Upgrading flooring throughout, Renting out rooms

What was the outcome?

This will continue to be a long term investment

Lessons learned? Challenges?

Should have bought more units in this community, they rent instantly and demand excellent rents.

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

NA