Half Assed House Hack

[Vincent Monaco]

Investment Info:

Single-family residence buy & hold investment in Pflugerville.

Purchase price: $262,000
Cash invested: $12,000

FHA loan on a 4bd 3 bath to live in and fill with renters.

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

To reduce monthly living expenses and begin gaining equity.

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

My realtor found it and negotiated the whole thing.

How did you finance this deal?

FHA

What was the outcome?

3 roommates that pay 71% of mortgage and 58% of the bills

Lessons learned? Challenges?

Challenges getting the the amount of rent I thought I would per room coupled with property tax increase means I pay out of pocket on average $650 to meet mortgage and $125 to meet house bills.

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

Agent