Bought my first house hacking property!!

[Khiyah Ward]

Investment Info:

Condo buy & hold investment in NC.

Purchase price: $135,000
Cash invested: $5,000

I bought my first 2 bed, 2 bath condo in Fayetteville, NC. it will be used as a full rental property next year. I am proud of myself and hope to get another one with the equity I have already accumulated.

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

I wanted to get my first property before 26, to inspire others in my family that it can be done.

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

It was in the family.

How did you finance this deal?

I used a conventional loan.

How did you add value to the deal?

I upgraded the appliances, painted the walls, got it professionally cleaned.

What was the outcome?

It is now being used as a house hacking property.

Lessons learned? Challenges?

Don't doubt the financing process just because it is taking longer than usual, the renovation budget changes but it will always be worth it in the end.