Updated almost 3 years ago on . Most recent reply
First House Hack in Arkansas
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