Kayty (my fiancé) bought a house! I truly could not be more excited for her as she begins her journey into homeownership and real estate investing. After attending enough of my home buying 101 classes and working on her downpayment/credit/etc., she was finally ready to buy! And lucky her, she got under contract on her very first offer in a multiple offer situation!
Kayty ended up purchasing a 3 bed, 2.5 bath town home. She was able to find a tenant to rent out 2 of the bedrooms (one for a bedroom and one for a studio) for $2200/month. Provided that her payment is $2350/month, she will be paying just $150 to live in this great space. That's a lot better than the $1k she was paying me before while renting... :) Also, because she utilized a down payment assistance program, we negotiated a credit from the Seller AND I chipped in some of my commission, she ended up only putting $1k down on this great place! So, $1k later, she has reduced her living expense by $850/month AND she is now building equity. Not a bad gig for this beginning house hacker. :) Check out pics of the place and deets below! Also, huge shutout as always to the best lender in the game - Abby McDaniel.
Congratulations, Kayty. You deserve all of this and more. <3
Built in 1981
1470 square feet
1 car garage
Updated / remodeled
Studio in the basement where we will add a kitchenette