House Hack in the UCF/Orlando Area

[Nicholas S Bond]

Investment Info:

Single-family residence buy & hold investment in Orlando.

Purchase price: $205,000
Cash invested: $10,000

My first house I bought. I lived in it for 2 years as a House Hack and am now in the process of refinancing in order to flip the property. I had an offer to sell for $250,000 but I decided to keep it as a rental.

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

I had listened to podcasts and talked to others who had done house hacks and figured it would be a good idea.

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

I found it from a wholesaler.

How did you finance this deal?

I used a 3% down conventional loan.

How did you add value to the deal?

I had some improvements done after the initial purchase.

What was the outcome?

Will now be a rental property.

Lessons learned? Challenges?

Living with 4 other roommates is tough, but worth it in the end.

[Nicholas S Bond]

@Arturo Pena Miranda Hey sorry, I haven't been on in awhile. Yes it was 6-7 min drive from UCF and 10 min from Valencia. I had prior relationships with my roommates. I also lived there which made managing it easier (in someways). 

Renting on a per-room basis is great, but you can definitely have other complications like more wear n tear, especially when renting to college students.

Overall, I think it was a great experience for me personally. Renting per-room without living there would be tough in my opinion.