House Hack dueplex

[Alana Reynolds]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $290,000
Cash invested: $20,000

We purchased a single-family home with the VA loan then converted the garage to a studio apartment. The main portion of the house currently has tenants and rents for $1650. The studio we will rent for $1100-$900. We have a mortgage payment and pay for the electric bill. This averages to be about $2,000.

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

Finding creative ways to earn side income.

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

We found the home on zillow and offered 10k below asking price.

How did you finance this deal?

The VA loan.

How did you add value to the deal?

We converted the garage into a studio.

What was the outcome?

It will net $750 a month.

Lessons learned? Challenges?

My husband built a stand up shower and completed a lot of tiling. He loved learning new hands on skills.