#1 - House Hack, Rent, Refi.

[Spencer Wallace]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $275,000

4 bed/ 1 bath, 1350 sqft. home in down town Everett. It was mostly remodeled when we purchased it as our first home but we fixed up the landscaping and the kitchen.

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

This was our first home and we weren't looking to make a deal at the time but it has acted as a springboard for us to continue investing and helped us get our feet wet with property management.

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

MLS

How did you finance this deal?

Conventional financing

How did you add value to the deal?

Live in Remodel of the kitchen and yard.

What was the outcome?

We moved to another primary residence and rented the property out. We then did a cash out refi to move onto the next property.

Lessons learned? Challenges?

Cash flow is necessary and equity growth is awesome!