House Hacked a Single Family

[Taron Wright]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $199,000
Cash invested: $15,000
Sale price: $360,000

Bought as a house hack and rented out 3 of the bedrooms. Sold after my 2 years and now using the gains for traditional rentals.

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

I was freshly out of college, needed a place to stay, but wanted to keep my expenses low to save for rentals. I am in the Charlotte market so appreciation really treated me nice.

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

On the MLS and with an agent.

How did you finance this deal?

0% down conventional

How did you add value to the deal?

Paint and flooring

What was the outcome?

Sold in 2023 for around 130K profit.

[Taron Wright]

Quote from @Tanya Ninerell:

How did you do 0 down since at least 15% is always required ?

 Small Credit Union in Charlotte, NC called "Sharonview Federal Credit Union" (lends everywhere except Texas I believe.) Bought as a primary residence. They have a loan program for 0% down. General owner occupied are 3% and 5% is what I have seen.