First deal! Turnkey house hack

[Tyler Sager]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $527,500
Cash invested: $115,500

Purchased a house hack with the help of my parents. 20% down conventional 30 year fixed at 2.99%. Mortgage is about $2,100 and I charge rent of $1,950.

Turnkey house hack, no rehab needed.

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

Getting my feet wet. Learning the ropes.

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

Zillow. My agent negotiated on my behalf.

How did you finance this deal?

20% down conventional loan.

How did you add value to the deal?

Added an irrigation system to automate the yard. Added a gravel patio in the back as well.

What was the outcome?

So far so good. I live for almost free.

Lessons learned? Challenges?

Did not need to put 20% down... Will get more creative with financing next time.