Buy & Hold / House Hack

[Nicholas Ramirez]

Investment Info:

Condo buy & hold investment in Phillips Ranch.

Purchase price: $380,000
Cash invested: $19,648
Sale price: $485,000

Not really a portfolio investment as it currently my personal residence, but I'd still consider it an investment. Had my sister-in-law come live with is a little over a year in as a house hack.

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

This was my personal house.

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

Found and negotiated by with local agent.

How did you finance this deal?

FHA loan.

How did you add value to the deal?

Time = Equity.

What was the outcome?

Sold with $100k in equity. A little over 400% ROI in 3 years (looking at initial investment only).

Lessons learned? Challenges?

Patience does pay out. House hacking is effective. There should be a house hacking/buy and hold as a primary residence as your base deal at all times.

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

Leigh McMahon was our lender. She worked wonders for us. She's currently with Movement Mortgage.