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Updated about 1 year ago on . Most recent reply

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Would you consider this property?

Posted

Hi BP,

First time home buyer looking to house hack. Got an off market deal offered to me thats peaked my interest and im curious what you all would do. What do you think and what would be your next steps?

Price: 340,000

Description: Brick triplex in a B- neighborhood. City is one of the fastest growing in the country and are spending money in these areas. Outdated interior but nothing seems too bad. Garage and basement for each tenant. 1 unit vacant. Other 2 units rented month to month on well below market rents of 950. I believe market to be 1100-1250 average. Could fetch 1300+ down the road with slight cosmetic updates

Details: I would be using my VA loan with no money down to purchase. I would ideally like to pump rent to 1100 the first year and do minor cosmetic upgrades. Would need new appliances as well at some point.

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