Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago on . Most recent reply

User Stats

6
Posts
3
Votes
Jackson Horn
3
Votes |
6
Posts

House-Hacking my First Property

Jackson Horn
Posted

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $205,000
Cash invested: $12,250

My first property and house-hack

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

I knew that I could get in with 5% down and add value while I lived there and rented out the spare rooms.

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

I found this property by word of mouth and bought it off market.

How did you finance this deal?

I used a conventional mortgage.

How did you add value to the deal?

I added value by doing cosmetic upgrades such as updating the bathrooms and updated the paint and lighting.

What was the outcome?

So far, I am able to pay my mortgage and bills from the income renting my spare rooms brings in.

Lessons learned? Challenges?

I have learned how a mortgage and refinance works. I have also learned skills such as laying LVP flooring, how to paint rooms and repair sheetrock.

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

Logan Smith at Legend's Realty.

Most Popular Reply

User Stats

1,968
Posts
1,786
Votes
Bonnie Low
#1 Medium-Term Rentals Contributor
  • Lender
  • Asheville, NC
1,786
Votes |
1,968
Posts
Bonnie Low
#1 Medium-Term Rentals Contributor
  • Lender
  • Asheville, NC
Replied

Nice job and congratulations on getting started with your investing career! What do you estimate the value of your property to be now that you've done the upgrades? What do you have in mind for your next moves?

  • Bonnie Low
  • [email protected]
  • Loading replies...