First house that turned into househacking by accident

[Christopher Tylor Mills]

Investment Info:

Single-family residence note investment investment.

Purchase price: $132,500
Cash invested: $5,000

Looking to rent the house and the owners were looking to sell. Acquired the house $15k less than the appraised value.

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

Not making someone else rich anymore.

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

Craigslist. I just asked what the owners would sell for upon finding out they were tired of renting the house out.

How did you finance this deal?

Mortgage company

How did you add value to the deal?

Rehabbed the inside and put on a tin roof, which I came out real good on that deal. Only cost me $1,800. Also added gutters after the roof was installed.

Lessons learned? Challenges?

I need to plan better on how to rehab, could’ve saved a lot of time.