One of the most profitable house hacks I seen ...

[Johnny Quilenderino]

One of my first contracts as an actual agent. She was a nurse over at INVOA Fairfax looking for something that was 3 bed 2.5 baths with a basement, she was going to house hack. This young lady had a vision and all I had to do was find her the "one." At first, she was shy and did not want to talk to me about her plans after the purchase, but then she warmed up as she realized; I am not just an agent but I am an investor. 

Fast forward, we find the deal, and then she kind of freaks out. She knew she wanted to rent all the rooms to people and just live out of the basement. Then she turned to me and stated, "where do I find my tenants?" I told her to look up traveling nurses or traveling professional websites and register and get this property on there ASAP. 

Initially, she only had two rooms to rent and thought she was going to have to rent them for 800 a room. After reviewing the websites, she upped her rent to 1400 a room. She used the proceeds to remodel the basement and now is renting the house with the exception of the basement as furnished rentals!!!

Ok the numbers:

PITI = 2300

Water = 80

Electrical = 100

Gas = 50

Website = 100

First quarter rents - 2800 a month x3

Second quarter remodel of basement complete - 5600 month!!

- Master bedroom rent 2000 (fully furnished)

- Two spare bedrooms rented 1800 (fully furnished)

5600 monthly off a townhome that has a total expense account of 2630! Almost 3k in cashflow.

What amazing ideas have you guys seen come to fruition in last year's C-19 market?

Cheers,
JQ