Househack in multiple stages

[Hendrik Rehbein]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $368,300
Cash invested: $115,000

\Phase #1 rewire, all new bathrooms, flooring, ceilings, drywall, sunroom repair, foundation, LBW removal for open floorplan and other cosmetic items, cash and elbow grease about $65K
Phase#2 HELOC w local Credit Union after forced appreciation, hoping to be at least $500K, HELOC @ 4% for 12 months at 90% LTV use funds for remaining renovations like Kitchen 30K, Pool 15K, others 5K
Phase #3 Cash-out Refi, get all cash back and leave 20% equity position in house at a $625K+ ARV.

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

The Woods Neighborhood is perfect for our family and this was a great way on coming at a good price point.

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

MLS, being a Realtor