All Forum Posts by: Jackson Horn

@Dmitriy Fomichenko Thanks! Great to meet you, Dmitriy!

Hey Luke, great to meet you. I ended up renting out the extra rooms. 

Thanks Bonnie! It's nice to meet you! I am thinking that the property is worth around $240k now. I am looking into BRRRR properties now and starting to navigate different financing options to make that happen.

Thanks Steven! I am in Huntsville, Alabama and focus mostly in the 35801 and 35803 zip codes. 

Investment Info:

Single-family residence buy & hold investment.

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

My first property and house-hack. Built in the 1960's, this property is a 3 bed, 3 bath, 1687 square-foot home sitting on 1/3 of an acre on the south-east side of Huntsville, AL. The house was in move-in ready shape, but some updates were needed such as bathroom remodels and window repairs made. I have learned skills needed to renovate homes that I plan to use on future deals.

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.