Primary Home House Hack

[Cody Rohland]

Investment Info:

Small multi-family (2-4 units) other investment.

Purchase price: $505,000
Cash invested: $101,000

We wanted a primary home with an accessory unit that we could rent to mitigate the mortgage payments, and keep as a space in case one of our parents needed to move in.

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

Future need for housing for parents plus income in the meantime.

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

It was in the town we loved and it was a conventional purchase.

How did you finance this deal?

Conventional financing

How did you add value to the deal?

TIme.

What was the outcome?

We still live here and now my mom has moved into the accessory apartment. It no longer cash flows, but our equity is huge. We refinanced into a first lien HELOC and now have a chunk of change to do some more investing.