Third House Hack - Snohomish, Wa

[Bradley Dosch]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $790,000
Cash invested: $100,000 

This is my third house hack. I bought this house because it fit my criteria well - it is a split level single family house with separate kitchens, laundry, entrances, and living areas. I currently live in the upper level with long term rent by the roommates and then airbnb the basement. We are able to break even while living here and hope to cash flow around $500/month when we move out. We = myself and my parter Chloe

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

I was interested in this deal because of the separate living areas (kitchen, entrances, laundry)

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

On the MLS

How did you finance this deal?

5% down owner occupant 30 year conventional mortgage at 4.25% rate

How did you add value to the deal?

Renovated the basement and added egress windows.

What was the outcome?

Living for free

Lessons learned? Challenges?

We've had multiple issues with flooding and moisture in the basement.

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

Represented myself as the agent. Used Albert Bui as my lender again and would recommend him!