House Hack Gone Right

[Alex M. Huber]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $625,000
Cash invested: $80,000

Beautiful Single Family home bought at the downturn of the market late 2022. Bought with Fully functioning (furnished) accessory dwelling unit with separate access currently covering ~70% of the mortgage. Great cash flow opportunity with 3 more bedrooms available in primary home.

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

The opportunity to live free of charge and cash flow heavily upon vacating.

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

I found it of my own accord and represented myself in the transaction.

How did you finance this deal?

Personal finances set aside through the year and allocating my commission from the transaction.

How did you add value to the deal?

Negotiating major improvements/repairs, allocating commission towards closing costs, using industry connections.

What was the outcome?

The outcome has been great. Will likely be covering the mortgage in it's entirety by Summer with the ADU alone.

Lessons learned? Challenges?

Always take concessions for repairs over actual repairs as opposing agents and sellers will oftentimes cut corners and sourcing your own contractors is usually best.

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

I represented myself on this sale.