First Investment property House hack

[Gustavo Briseno]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $118,000
Cash invested: $5,000

house hack for a year, switch to STR

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

First Time buying a house

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

Brand New property, someone closed before I got approve. after a month I got a call from Agent , the othe buyer couldnt close because of some renovations he did (added New floors and Carpet) value went up but I ended up paying the original amount.

How did you finance this deal?

FHA, money from 401K

How did you add value to the deal?

Property was a new build so not much I could do

What was the outcome?

Still have property as a STR

Lessons learned? Challenges?

lost my job in the middle of the process, started renting rooms and finally became a STR