Living for free at 20 years old

[Javan Singleton]

Investment Info:

Single-family residence other investment.

Purchase price: $260,000
Cash invested: $15,000

At 20 years old I purchased an off-market single-family house in a highly sought-after area in Columbus, Ohio. I renovated the walkout basement into a studio apartment and currently use it as an Airbnb, but I am slowly transitioning to a mid-term rental. The property was purchased off-market and significantly under market value, I believe that after my forced appreciation I have over $70,000 of equity in the home. The house cash flows about $1,000 a month, but I could get more by renting out 2 of the other empty bedrooms.

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

Graham Stephen on YouTube and house hacking my primary residence

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

I purchased this house from the local farmer where I get groceries from his farmers market.

How did you finance this deal?

Since I was a first-time home buyer this is my primary residence, I used a conventional loan and put 5% down. I had to have my father cosign, but all the money invested was my own.

How did you add value to the deal?

I have renovated the bathrooms and converted the walkout basement into a very nice studio apartment which has become a highly-rated Airbnb.

What was the outcome?

I have met some really cool people and have not paid any housing expenses out of my own pocket for the last 2 years. I am an Airbnb SuperHost and have started taking steps to do real estate full-time.

Lessons learned? Challenges?

If it doesn't make sense, it doesn't make dollars.

[Zach Edelman]

Congrats dude! So you were just walking through a farmers market one day and stumbled upon the house?