Manayunk Rehab, House Hacking via Short Term Rental

[Ryan McLaughlin]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $240,000
Cash invested: $30,000

My wife and I used a renovation loan on our first home. Our full gut rehab added 2 full bathrooms and a short term rental unit. Creative house hacking at it's best! The unit is projected to cover our entire mortgage.

How did you finance this deal?

HomeStyle Loan

How did you add value to the deal?

We added a bathroom and mother in law suite.

What was the outcome?

We have a property now worth $375K and our rental is paying our mortgage.