Househacking and room rentals

[Calvin Toulouse]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $140,000
Cash invested: $5,000

single family home 3b 2ba and renting out 2 rooms $650 each while living in the 3rd room.

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

Meets the 1% rule. Appreciation will go up in this area. Rent is high in this area.

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

Found deal on mls and negotiated with agent

How did you finance this deal?

fha loan

How did you add value to the deal?

$5,000 of equity when I purchased the house due to apprasial being higher than asking price. Remodeled sunroom to be useable. Added a fenced in yard. Fixed the A/C unit. Electrical outlet work done. Landscaping added.

What was the outcome?

currently have 2 tenants

Lessons learned? Challenges?

Learned how to manage tenants and property.