Single family rental

[Hayden Smith]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $262,000

I bought a 5 bed 2 bath home in eagle mountain Utah, for 262k and I house hack it I live with 8 other guys.

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

I just wanted a single family home in a growing market.

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

So I bought this home from my parents. They gave me a 10k Equity Gift.

How did you finance this deal?

FHA loan with a company called guaranteed rate.

How did you add value to the deal?

I think by house hacking! I make 3k a month on it and I rent out all the rooms, 2 people in each room+ the family room.

What was the outcome?

It’s still goin fantastic!!

Lessons learned? Challenges?

Yes don’t become good friends with the people renting from you, business first definitely.

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

No