My first and current house hacking experience

[Devyn Robinson]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $112,000

Bought the SFH ads moved a close friend in, we split the monthly expenses 50/50 and I will occasionally have someone move in short term into our spare room to generate a little extra income.

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

The outside of the house was mostly remodeled, inside wasn’t in bad condition but does need some reworking.

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

The negotiation of the house was fair at best, I could have dive much better with it had I been more informed.
I learned about the property through a realtor that I met through mutual connections.

How did you finance this deal?

I'm a veteran, so I used a VA loan to procure my mortgage.

Lessons learned? Challenges?

I could have done a better job at negotiations. A VA loan is not something that will work well if trying to do a BRRR strategy portfolio. I also let emotions play into my decision making as well.

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

It’sa bit of a conflicting question, because I made good friends with the realtor that I had used, and the loan officer seemed very knowledgeable, but me being very ignorant to haul everything worked I cannot say for certain one way or another.