House Hacking to start new career in real estate

[Kristi Aliaga]

Investment Info:

Single-family residence other investment in Lawrenceville.

Purchase price: $189,000

I am currently using the House Hacking method to have others pay my mortgage, so I can quit my full time job at library and work on real estate sales and investing.

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

Necessity mostly! But once I read the book by David Greene I actively started looking for someone to rent out my unused bonus room and basement.

How did you add value to the deal?

When I purchased the home, it had a partially finished basement. I was able to add a kitchen to it so that the basement tenant has a one bedroom apartment basically. If/when I sell the home I hope that it will add value to the price.

What was the outcome?

So far so good!

Lessons learned? Challenges?

The challenges is having someone, not your family, living in your house. However careful screening and luck gave me two really awesome tenants.