Third House Hack is the Charm

[Kevin Smith]

Investment Info:

Single-family residence other investment in Englewood.

Purchase price: $480,555
Cash invested: $30,000

House hack #3. Able to buy 100% on my own. Completely move in ready and updated. Just blocks off of S Broadway - opening the book for many short/long term rental possibilities. Planned on AirBnB before the Corona Virus pandemic. Shifted to traditional house hack when vacation market halted. Once again got $12K sewer line completely replaced - just by paying for $120 sewer scope. Also objected to listing basement (pictured) as a bedroom and had them install the egress and closet to complete. Launchpad and home base for my initiative - The Gamehinge Community - which hacks the real estate market with community and creativity, while creating positive human connections and helping local economies prosper - starting with your own.

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

Keeping the ball rolling, and upgrading living situation.

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

MLS, with my real estate agent Mary Anschutz

How did you finance this deal?

Conventional, owner occupied, 5% down, during historic lows for interest rates.

How did you add value to the deal?

Getting the sellers to pay for some needed improvements with their equity, not price reduction.

What was the outcome?

Only time can tell with the current state of the world, but feeling good about it.

Lessons learned? Challenges?

Two offers - liked that method.

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

Yes both of the above, my realtor Mary Anschutz and Finance Matt Hanson.