House Hack (Kinda...?)

[Joshua S.]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $120,000

Cash invested: $750

This was my original investment, kind of by accident. It's a townhouse and was my first home purchase ever. I bought it in 2014 using an FHA Plus (VHDA) loan with $0 down. My only out of pocket expenses for the purchase was the $500 EMD and the $200 home inspection. Seller covered closing costs. Granted, I lived in this townhouse for 2.5 years before moving in 2017, so I paid the mortgage for a good bit. With only being in the property for 2.5 years, I had barely any equity (if any at all), but luckily, my lender told me that I didn't need to sell it in order to qualify for the loan on my new house. So, I chose to rent it out. I spent the months leading up to closing on my new house learning everything I could about being a landlord. Big shout out to Landlordology.com and Cozy.co for helping me out with that! Landlordology led me to BiggerPockets and the realization that I could actually do this over and over again. Since then, I've earned my Virginia Real Estate Salesperson license to help other people invest while also acquiring enough liquid capital to do my own investing.

How did you finance this deal?

VHDA (FHA Plus) zero-down first time home buyer loan.