First House Hack in Lakewood

[Joshua Filkill]

Investment Info:

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

Purchase price: $287,000
Cash invested: $10,000

First House hack with rents covering PITI. Turnkey property with minimal repairs needed.

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

Wanted to jump into REI and try to eliminate my personal housing costs.

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

Deal was on MLS. Seller was motivated to sell quick since they were buying an apartment building.

How did you finance this deal?

FHA Loan

How did you add value to the deal?

Minor repairs, mainly painting

What was the outcome?

Rents from the second unit and renting out a room in my unit cover PITI