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Updated about 2 years ago on . Most recent reply
![Darren Bloomfield's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2436629/1674764503-avatar-darrenb106.jpg?twic=v1/output=image/crop=86x86@6x6/cover=128x128&v=2)
My First House Hack - Logan Square Chicago
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $489,000
Cash invested: $25,000
Renting the first unit to tenants. Living on the second floor and running a STR out of a spare bedroom. House hacking
What made you interested in investing in this type of deal?
Great location. FHA loan has a low downpayment which allowed me to get into the property and start building equity.
How did you find this deal and how did you negotiate it?
Zillow/ MLS
How did you finance this deal?
3.5% down FHA
How did you add value to the deal?
Rehabbed bathroom. Fresh paint. Cosmetic upgrades outside. Saving for a kitchen/bathroom rehab on my unit when moving out after 1 year.
Most Popular Reply
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- Property Manager
- Roselle, IL (Chicago Suburb)
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@Darren Bloomfield I created a guide for self managers specific to house hacking in Chicago that I will DM you. Congrats and love seeing new investors break onto the scene.
- Mark Ainley
- [email protected]
- 630-781-6744
- Podcast Guest on Show #72
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