Duplex House Hack in Colorado

[Tanner Pile]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $612,000
Cash invested: $91,000

Purchased a duplex to house hack in May 2022. Put $30k of my own into the deal and borrowed the rest from a family member as a "gift" at closing. Plan to do rehab to it in the future. Awesome location for mountain views on the west side of Colorado Springs and each unit is 3 bed 2 bath and 1 car garage. Currently does not cash flow as a house hack but has allowed me to have low rent.

What made you interested in investing in this type of deal?

Awesome location and good price for what each unit had to offer on the westside.

How did you find this deal and how did you negotiate it?

Found on the MLS and lowered my commission as a real estate agent to make it work.

How did you finance this deal?

15% down conventional loan as a primary residence. Loan from family for a portion of the down payment as well.

How did you add value to the deal?

House hacking it allows for more income by the room. Looking to rehab and move it to make it a quality rental

What was the outcome?

House hacking success

Lessons learned? Challenges?

The process of moving from one house hack to the next is slow and takes time finding a new tenant. Must have patience.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yep! I am a real estate agent and have the experience to help other investors house hack!