Home #1 House HACKING!

[Tanner Stoddard]

Investment Info:

Single-family residence buy & hold investment in West Valley City.

Purchase price: $325,000
Cash invested: $21,000

House Hack. Renting 2 of 3 rooms out. Working on updating and then renting out basement as well. It has a separate entrance for the basement. Will have that as a studio apartment.

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

Getting into investing is always easier when starting with a house hack!

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

On the MLS and offered 25k over in a HOT market!

How did you finance this deal?

Standard Conventional conforming 30 year loan.

How did you add value to the deal?

Currently painting. Renovating a bathroom. Putting in LVP flooring throughout. And soon will start on the basement to make it into a studio apartment.

What was the outcome?

A house hack! Currently in the works!

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

My buddy was my agent and was much better than expected. I had no idea what to expect but he pushed and helped to get our offer to the top and get it accepted on just the 3rd property I offered on.