I'm also living here and I'm renting out the other rooms so I'm not expecting there to be a prophet. Basically, I'm house hacking and I'm waiting for my 2-year live in tax deduction to apply and then I might sell it, the resale value is about 210k give or take. With it being my first deal I'm pretty happy.

Pictures are from when I bought it. That's not how it is currently
That power washer works now and I've made money off of it ;)

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

What made me interested in buying this particular home is that it was a HUD home and knowing how HUD operates I knew that I could get it for significantly lower than market value. I wanted a deal that I could afford as it being my first deal and I needed financing and potentially make money off of in future

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

working with David Flack who is an agent,rental property owner, flipper and developer. we looked in Northern Virginia for about 6 months and we found this house. it was a little overpriced so we left. I read a lot and I found out that HUD gives the agent instructions.
One of those instructions is a minimum price and usually that price is the money that they have in the property.
so if I were to do research on the house and see how long the previous owner had the property I can calculate how mu

How did you finance this deal?

I finance the property with prime lending. loan officers was David Mincey, he's a very patient and very knowledgeable man.

the closing costs ended up being around $10,000, 6% interest rate

my loan was later sold to a different company

How did you add value to the deal?

I had this huge thing written out explaining prices and how long it took and when I went to copy and paste I found out that I'm limited on space!! so if you want any specifics just message me and I'd be happy to tell you. basically we ran laminate flooring throughout the entire house, tiled the bathrooms, painted the cabinets and painted the walls and made the deck better.

What was the outcome?

I really don't understand this question. the outcome of this whole thing is having a house that is pretty nice that I can't imagine anyone saying Hell No to live in

Lessons learned? Challenges?

I think the biggest lesson and I think that I'm still learning this lesson is cost-benefit analysis. I didn't learn anything new when it comes to putting in flooring replacing subfloor tiling most of that I already knew how to do but I think the experience of looking at it from a real estate investing point of view was a big thing. as well as going through the loan process and understanding how painfully slow HUD and other big corporations can be

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

David Flack was my agent and a big knowledge resource being that he is a real estate investor himself
David Minsy (with prime lending) was the loan officer that helped me secure the loan he's a very patient and knowledgeable man he took the time to explain how things work and was just generally patient with me.
Devin Jewell he helped me pay for most of the repairs and I wouldn't have been able to do this without the money that he invested in this deal