6 Bedroom single family College House Hack.

[Kevin E Ruth]

Investment Info:

Single-family residence buy & hold investment in Madison.

Purchase price: $330,000
Cash invested: $80,000
Sale price: $360,000

Used as a house hack through college and then rented for short time until sale

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

Wanted to avoid need for private loans to cover housing expenses through college.

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

Walking the area and finding for sale property. Used realtor for negotiation

How did you finance this deal?

Traditional 30 year fixed

How did you add value to the deal?

Was landlord for property while living in one of the bedrooms. Fixed all property issues as well as found tenants year to year.

What was the outcome?

Sold for small profit but was able to live for free while in college. Was able to sell and use for down payment on current primary residence.

Lessons learned? Challenges?

Careful when buying older homes and using for college rental. College kids do not care about nice wood floors and woodwork from the 1920s.