In Need of Your Story (House Hacks)

[Ethan Tomlinson]

Hello! I am a 19 year old, I'm currently in the process of saving up money to buy my first house hack. I want to work on a big project showing the power of house hacking and I am trying to convince some of my friends and family to look into it. Part of that project was going to be putting together some sort of list/document of people's success stories. Whether a comment on this thread or a personal message to me, either works. It would just be something along the lines of just: 

-Your first name (unless you say you don't want me to use it, I wont)

-How much you were paying for rent before house hacking 

-What type of property you started in (can also include the details of the price of home/mortgage/how many rooms/what city/the rehab/literally whatever you wanna include, or not)

-What you were paying (or being payed) to live somewhere after the first house hack process. 

-You, just mentioning that I have permission to use your inspirational story

I hope that all makes sense, I would GREATLY appreciate literally any comment. These stories would also just be extra motivation for me as well. I also hope this isn't against the rules. If it is, mods just let me know or I guess take the post down. Thanks!! ((:

[Steven Foster Wilson]

Quote from @Ethan Tomlinson:

Hello! I am a 19 year old, I'm currently in the process of saving up money to buy my first house hack. I want to work on a big project showing the power of house hacking and I am trying to convince some of my friends and family to look into it. Part of that project was going to be putting together some sort of list/document of people's success stories. Whether a comment on this thread or a personal message to me, either works. It would just be something along the lines of just: 

-Your first name (unless you say you don't want me to use it, I wont)

-How much you were paying for rent before house hacking 

-What type of property you started in (can also include the details of the price of home/mortgage/how many rooms/what city/the rehab/literally whatever you wanna include, or not)

-What you were paying (or being payed) to live somewhere after the first house hack process. 

-You, just mentioning that I have permission to use your inspirational story

I hope that all makes sense, I would GREATLY appreciate literally any comment. These stories would also just be extra motivation for me as well. I also hope this isn't against the rules. If it is, mods just let me know or I guess take the post down. Thanks!! ((:

I was a sophomore at The Ohio State University (OSU) and I knew I wanted to do a bigger thing and get into the Real Estate game. I did not have enough money for a downpayment so I asked my grandmother to loan me the money for the downpayment. She gave me $12k and thus started the search. I found this duplex on OSU’s campus for $305,000. It went on the market and I dragged my feet too long, “analysis paralysis.” I learned a quick lesson you have to act fast! If a deal comes and the numbers make sense then you have to act. God knew this was going to be our first one because it came back on the market a few months later. We put an offer in and it got accepted. Long story short we rehabbed it putting $50k into it. We had people live with us while doing so (it was the cheapest rent around) and then we moved out and rented each one side for $1,350 and the other for $2,565. We refinanced it at $590,000. All in all, we gained $235k in equity from our initial $67k in the deal, that’s a 350% return. This can be you too. 

You have my permission to share my story. If you have any more questions, I am always willing to help or answer them.