First House Hack - Creative Investing

[AJ Satcher]

Investment Info:

Single-family residence buy & hold investment in Decatur, GA.

Purchase price: $485,000
Cash invested: $13,000

4 bed 4 bath house hack featuring a fully finished basement with its own private entrance. I will occupy the 3 bed 3 bed upstairs while the 1 bed 1 bath basement unit is available on STR platforms such as Airbnb, Vrbo and Booking.com.

Check out our listing: https://www.airbnb.com/rooms/961092487276531112?guests=1&adults=1&s=67&unique

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

Ability to House Hack

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

Finding my Agent and Lender via BiggerPockets

How did you finance this deal?

FHA

Lessons learned? Challenges?

Getting this home was a major challenge due to the sellers dragging things out, rare I know right. We initially went under contract in April 2023 and didn't officially close until July 2023. Ouch.

The biggest challenge was getting the seller's to obtain a Certificate of Occupancy, which is required to sell the home. Why did they not already have this? I do not know. However it took over a month just to obtain this certificate after going under contract.