House Hack in Long Beach Ca

[Jake Baker]

Investment Info:

Single-family residence buy & hold investment in Long Beach.

3 bd 2 ba SFR in Long Beach Ca.
I bought this out of college and partnered with a friend my age.
It has an extra "loft" room and we house hacked. (rent out 2 of the 4 rooms)
We made this investment before we stumbled upon BiggerPockets. While it is not a home run, it is a base his, but most importantly, it was pivotal learning experience.

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

Paying myself rent instead of someone else.

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

Zillow

How did you finance this deal?

Personal Cash savings, partnership, and conventional bank loan.

How did you add value to the deal?

We put on offer down within a day or two of being on the marketing. The sellers were a divorced couple so they were looking to sell quick.

What was the outcome?

A base hit.

Lessons learned? Challenges?

This being my first investment I learned a ton about the real estate game and now I caught the bug. Don't get analysis paralysis. Start analyzing deals and just go get a base hit. It doesn't necessarily need to be a home run deal. I learn so much in the process of getting my first house that now I easily find better deals with way less stress because I've gone through the motions before.