Single Family w/ADU - Live in Flip/House Hack

[Andy Werling]

Investment Info:

Single-family residence buy & hold investment in Denver.

Purchase price: $543,000

Single family home with a basement ADU that needs a lot of work. Previously rented for the past 7+ years to the same tenant and updates/maintenance was deferred by previous owner.

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

Having previously owned single family homes and house hacked with roommates, I was looking for a property that could ultimately turn into 2 individual rentals under a single roof/purchase

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

My agent that helped me purchase (and sell) my first home in Denver brought me this off market deal. The seller used him when he purchased the home.

How did you finance this deal?

I used 3.5% FHA loan.

How did you add value to the deal?

I am doing some basic upgrades to the basement unit to increase rent and match the market and will be living upstairs and live in flip the upstairs unit over the next year.

What was the outcome?

More to come!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Jacalyn Forleo with Zenith Home Loans has been amazing with both my Denver home purchases and Jeremy Cockrum with the JC Denver Home Team