First offer on a MFH is in

[Nate Burnett]

Waiting impatiently to hear on our first investment/house hacking deal. Already have a game plan in place to get it cash flowing better.

Previous owners bought it in 2008, and only painted the exterior, plenty of deffered maintenance.  We will be occupying one unit, fixing it as we live in it. New kitchen, bathroom and flooring in the 2nd/3rd floor unit (3 bed 1 bath). Once we moved down to the first floor unit it should cash flow $1400, this should carry our entire mortgage, tax and insurance payment. Second unit, as it has a walk out basement and full height egress windows, we will convert to a utility room and additional living space. As it is 2/3rds above ground I would try moving the kitchen downstairs and doing a sitting room. Upstairs (ground floor), would then be converted from a 1+ bed to a 2+ bedroom with a larger bathroom. Once we decide to move out my ballpark, conservatively is $1275.

This is in Dover, NH and right now the NH Seacoast has a housing boom, so who knows what rent prices will be in the next few years. But as it stands, after accounting for vacany, our mortgage will be paid by the 1st floor (un-updated unit) by about 85%.

Anxiously waiting, hoping it is a quick accept as it has sat on the market for months on end. 

[Mary D.]

Congrats on moving forward! Dover is a great place to start. sounds like a good hold if you decide to move.

Rents do seem to be going up steadily and people are grabbing them.

Hope your offer gets accepted!