First Property! House Hacking begins.

[Andrew Bosco]

Investment Info:

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

Purchase price: $430,000
Cash invested: $50,000

First investment as a house hacker! Tough market as an FHA buyer, but financing fell through the former individual. My fiancé and I jumped at this property, which needed a ton of work. It was a great learning experience that helped to springboard the future!

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

Difficult market with low % interest rates. Quantity was not an option. We bought this house because of the neighborhood and the potential for MTR, as well as LTR.

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

Redfin, worked with our agent and the rest is history.

How did you finance this deal?

FHA and cash for fixes.

How did you add value to the deal?

Gutted the entire house. Renovated two kitchens, two bathrooms and 6 bedrooms. We also added a closet, updated the plumbing and electricity.

What was the outcome?

A beautiful home!

Lessons learned? Challenges?

You don't know anything until you're in the weeds. Just get in there and discover for yourself. Oh, and good trades individuals are worth their weight in gold.

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

Barristers Title in Manchester was great. Sue Doyon with Coldwell Banker is also superb!

[Jevon Shaw]

Congrats on your first property! One step at a time, man!