House hack purchase, to buy and hold.

[Jorge Uribe]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $309,000
Cash invested: $15,000

Sfr bought as house hack. We live in the property and renting out 3 of the rooms to students.

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

Eliminating living expense was the main idea.

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

A client of mine who is a handy man brought it up to me right before it went on the market. Made an offer and was accepted

How did you finance this deal?

Conventional loan from my previous lender. They offered a discount for additional loans and use my 1st homes rental income.

How did you add value to the deal?

Making upgrades throught out makes the property more attractive and desirable.

What was the outcome?

Tbd

Lessons learned? Challenges?

Taxation reporting will be my challenge. it's still very new to me. I am educating myself. A work in progress for sure!

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

I worked with an agent. If I have to be honest, I would use a different agent. I felt like I needed to constantly motivate my agent to get things done in a timely fashion.