College Station House Hack

[David Schmiediche]

Investment Info:

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

Purchase price: $285,000
Cash invested: $33,500

In May 2024, I purchased a duplex in College Station as a house hack. Rents were below market at $750 and $820, while similar units rented for $1,000. I submitted a full-price offer of $295,000 within 48 hours of seeing the listing, and the seller accepted. I raised one tenant’s rent to $1,180, invested $5,000 in renovations while living in the other unit, and found a roommate paying $750. Photos are from before renovations.

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

Opportunity to purchase a property and live rent free while doing it.

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

Active MLS Listing

How did you finance this deal?

Conventional Financing

How did you add value to the deal?

Cosmetic renovations, removed popcorn ceilings, replaced cabinets, replaced counter tops with butcher block, new fixtures, and fully interior painting

What was the outcome?

Current residence allowing me to live rent free.

Lessons learned? Challenges?

Doing renovations yourself while living in the place is a huge pain. It would have been better for me to hire this out instead of doing the work myself. Value of time vs the value of money