House Hacking in Atlanta

[Jason Ricardo salgado]

Investment Info:

Townhouse buy & hold investment in Lawrenceville.

Purchase price: $169,000

I purchased my first house my first year of college after leaving the military. I used my VA loan to not pay the 20% down needed to complete the deal. I then lived in the master bedroom which had its own bathroom and i rented each additional room for $650 plus utilities. This paid for my mortgage and left a little bit of profit on the side which paid for my part of the utilities. I lived basically rent free through college until my home equity grew large enough to try to refinance. I ended up securing additional funds for my next project using a HELOC

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

After leaving the army, i had to live with my parents who stressed that I needed to have my own place at my age specially after leaving the army.

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

I found this deal as i was searching zillow one night out of boredom and it was in the perfect location where it was close to school, work, and my family! it fit perfectly!

How did you finance this deal?

VA Loan

How did you add value to the deal?

I did minor renovations. and allowed the house to go up in equity through time

What was the outcome?

I was able to save all of my rental income which I used to finance my stock market goals and my next realy estate venture

Lessons learned? Challenges?

Being a landlord to your friends is much harder than i thought, they assume that friendship will come before business, which does, unless you're refusing to pay the rent. learning to seperate business and relationships is invaluable