House Hack at 22/23 years old

[George Garret Egberts III]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $233,000
Cash invested: $8,500

Primary Residence/House Hack. Basement is finished with a kitchenette, bathroom, small living area, small bedroom and a separate entrance. Currently Rents out for 1200 per month, all utilities included, cutting my living expenses in half.

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

Ideal for first home + Saving

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

Zillow - browsing around deals that were posted for several months

How did you finance this deal?

Conventional 3.5% down

How did you add value to the deal?

adding a door to separate the basement, similar to a separate unit

What was the outcome?

ability to comfortably rent out the basement for 1200 per month

Lessons learned? Challenges?

The entire house buying process since it was my first

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

Patrick Manies