I really just wanted to get into my first home and get out of the rental cycle, after reading several books and watching podcasts from BP, the term "househacking" really spoke to me. I got my finances in order, and just went for it. So far, it has been one of the best financial decisions I've ever made.

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

Working with my realtor, we submitted several offers that didn't get selected. As a first time buyer, this was discouraging to say the least. When we found this deal, there was apparant damage to the carpets in the basement from pet waste, which I immediately thought was an excellent opportunity to get into this house as I was willing to spend some time and money rehabing, where most homebuyers wouldn't be. We offered 5,000 above asking, and ended up going under contract.

How did you finance this deal?

VA loan at 0% interest! Other than closing costs (~2,000) and the intial rehab (~2,500), I had next to no cash invested for this property.

How did you add value to the deal?

The basement was not practically habitable due to a horrendous stench in the carpet from past owners pets. So within a few days of closing, we demo'd carpets, floor/door trim, and started purchasing materials for a cosmetic rehab. We installed Luxury vinyl plank flooring, painted and textured the walls, installed new floor/door trim, and added 6 panel doors throughout the basement. Total cost was under 2,500 (including labor for a buddy with experience).

What was the outcome?

I'm about a year into ownerships, and conservatively (not including Rehabs) sit on 45,000 in equity.

Lessons learned? Challenges?

My only concern is that I didn't buy in a great neighborhood, and am limited in future rehabs and don't want to price myself out of the market my house is in. However, since month 1, I've had steady tenants who have paid nearly 100% of my mortgage costs in my year of ownership.

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

My entire team was incredible, especially with me being a first-time buyer I couldn't have asked for a better agent and lender. Anyone working in the Denver market should consider using Zach Sanders (Agent), and Tom Tacker (lender) for their next deal.