House Hack in Scottsdale

[Christina Anderson]

Investment Info:

Single-family residence buy & hold investment in Scottsdale.

Purchase price: $123,500
Cash invested: $12,350

This property is a "house hack" investment in south Scottsdale, Arizona. It is a 3 bedroom/2 bath condo that I currently live in and rent out 2 of the bedrooms.

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

Ever since I was in high school it was my goal to buy an investment house to live in and rent out the extra bedrooms. (Maybe it was playing Monopoly as a child?)

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

I found this deal on Zillow, and the seller accepted my first offer.

How did you finance this deal?

I used a traditional bank mortgage with 10% down. No major repairs have been needed.

What was the outcome?

This has been a great investment property for me. It has taught me a lot about how to be a good landlord, take care of repairs, communicate with renters, deal with leases, etc. And the best part is I am living for free and making a small cash flow each month!

Lessons learned? Challenges?

I learned that when house hacking (or renting in general) I shouldn't be in a hurry to fill a vacancy. It's so important to have respectful and responsible tenants even if it means having the room unoccupied slightly longer.