House hack in San Diego

[Robert Payne]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $765,000
Cash invested: $30,000

2/2 with 1/1 ADU. Currently house hacking in SOCAL.

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

I have been renting rooms out for a while and this house had the perfect layout. Each room has something unique and each has their own bathroom with one setup for an ADU with minimal work to complete. It also has plenty of parking and an RV parking spot.

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

I found this deal on the MLS and went to the open house. Locked it in after one week and closed quickly.

How did you finance this deal?

I found a mortgage broker who was very helpful and knew how to make deals work smoother with VA loans.

How did you add value to the deal?

I renovated all the rooms in the house and made some upgraded to the ADU.

What was the outcome?

Currently renting out the rooms.

Lessons learned? Challenges?

I have an amazing girlfriend that kept a running spreadsheet of the entire renovation. That enabled us to track and keep our sanity for where the money was going. I also was able to do this utilizing contracted and under the table help and completed the project in just a month and a half.