House Hacking home

[Lewis Anderson]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $520,000
Cash invested: $6,000

House Hacking. I bought a home that has an in-law suite and I am living in the one bedroom one bathroom while a family is living in the main home.

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

I enjoy the idea of having my mortgage paid for by the tenants and me living for free.

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

A local real estate agent.

How did you finance this deal?

VA home loan

How did you add value to the deal?

repaired the air conditioning and the plumbing.

What was the outcome?

I had a family move in.

Lessons learned? Challenges?

It took time to get the home rented out and while that was happening the home stood there and was a liability