Norcross flip turned rental turned house hack

[Brandon Stephens]

Investment Info:

Single-family residence buy & hold investment in Norcross.

Purchase price: $112,000

purchased as a pre-foreclosure in 2007 with the intention of flipping it then the bottom fell out of the real estate market and arv dropped to 40%. I rented the house initially to stop the bleeding and eventually moved in and began house hacking been renting the rooms ever since.

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

the purchase price due to it being a pre-foreclosure

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

bpo agent that was a family friend

How did you finance this deal?

conventional 30 yr mgt with a cosigner (my mom)

How did you add value to the deal?

started renting rooms

Lessons learned? Challenges?

have multiple exit strategies

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

yes