Arvada Colorado Househack

[Alan Le]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $510,000
Cash invested: $50,000

First investment done and in the books! We purchased this home due to the great location near Olde Town Arvada and its offered versatility in investment strategies. Most renovations were centered around the goal of turning the house into a non-conforming duplex.
Renovation work to highlight:
* lower living room renovation with a partitioned wall to separate the upper and lower units
* bar demo’d and converted to a second full kitchen equipped with induction stovetop and SS appliances.

Now onto Househack #2!

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

Found on MLS, we bought during the super low rates of 2021. Although the home ended up appraising for $10k less than offered, (which we covered), it still all worked out due to the cash flow and appreciation that quickly wiped out any disparity between appraisal and purchase price!

How did you finance this deal?

3.5% FHA Loan.

What was the outcome?

The numbers:

PITI: $2,400
Rental Income: $3,400
Gross Income: $1,000