My First Buy and Hold-House Hack

[Danny OShea]

Investment Info:

Single-family residence buy & hold investment in Colorado Spgs.

Purchase price: $435,000
Cash invested: $43,500

This is a house hack and my first investment. I live in the master bedroom and rent out the other 4 bedrooms.

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

I read about House Hacking on bigger pockets and started doing research into how I could make my first home purchase cash flow for myself.

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

I searched on the MLS and worked with my realtor, Sevin Murdock, and made offers on 7 homes till I found one where a couple was getting a divorce and needed to get out of their home quickly.

How did you finance this deal?

I used traditional financing, 10% down.

How did you add value to the deal?

I brought 4 renters into the 5 bedroom home.

What was the outcome?

I am very happy with the outcome of my first investment, after 6 months I am consistently cash flowing at $850 per month, plus I have not housing costs myself.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, I worked with Sevin Murdock, who is a fantastic Agent.