4229 Timber Valley Househack

[Ian Porter]

Investment Info:

Single-family residence fix & flip investment in Decatur.

Purchase price: $190,000
Cash invested: $100,000

This home was a originally a 3 bed 2 bath 1200 sq ft home over an unfinished daylight basement. I bought this as a househack when I first moved to Atlanta to live upstairs and rent the basement on Airbnb. I spent about $75k total to finish the basement into a completely separated space with 1 bedroom 1 bathroom and a full kitchen with oven and dishwasher. I also invested about $25k remodeling the kitchen, livingroom, and painting the exterior.

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

This was my first house hack and I wanted to earn money on the property while also building equity through renovation.

How did you finance this deal?

A traditional mortgage product with a renovation loan packaged in.

How did you add value to the deal?

Finishing the basement into a full apartment and remodeling the first floor.

What was the outcome?

Made about $1000/ month in income through the basement and sold for a large profit.