First House Hack in Arkansas

[Tanner Stafford]

Investment Info:

Single-family residence other investment.

Purchase price: $130,000
Cash invested: $12,000

3bed/1bath House Hack. Rented other rooms for 450 each. Expected cash flow after improvements and moving out: 200$

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

Wanted to get started in real estate and a house hack was the perfect opportunity

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

Used an agent

How did you finance this deal?

conventional 5%

How did you add value to the deal?

Fixing it up while I live in it. Painting kitchen, removing carpet and adding LVP

What was the outcome?

Worked out great and I didn't have to pay my mortgage for almost a year.

Lessons learned? Challenges?

Renting to friends is challenging

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

I worked with an agent but I ran the numbers and chose the property. Basically just used them for the paperwork