1st Investment Property (House Hacking, B&H, w/ BRRRR)

[Sarah Elizabeth Andersen]

Investment Info:

Other other investment in San Angelo.

Purchase price: $214,000
Cash invested: $10,000

SFH with garage apartment in rear. Turned the main house into a duplex style living situation while house hacking from one side. The other side and the garage apartment both have tenants.

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

First purchased this property from long distance before moving here. Had a great RE Agent (Katherine Pfluger) who sent me video walkthroughs and helped with the entire process.

How did you finance this deal?

Used a VA Loan.

Lessons learned? Challenges?

Underestimated how much closing costs would be and my savings had to play catch up from that for a few months. Also with the garage apartment, some utilities are separate and some run under the same account so I had to get that organized. Biggest lesson learned was probably just to take action. I procrastinated on doing a few minor repairs to the apartment before allowing someone to move in which cost me about 3 months ($2250) that I could have had as income.

[Giovanny Garcia]

@Sarah Elizabeth Andersen

This is great! I can certainly relate on the procrastination piece. I also held off on completing the hard wood floor refund in my most recent remodel and essentially threw about two/three months of rental income. We live, learn, and adjust.