5 Bedroom, 2 Bath built in 1950. Basement has separate exterior entrance and small kitchenette. Upstairs has 3 bedrooms and one bath. One upstairs bedroom was originally an unheated sunroom with baseboard heat added. 2 car garage.

Planning to AirBnb the top of the house (3B/1B) while living in the basement unit (2B/1B) with kitchenette.

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

Craig Curelop and the FI Team and Bigger Pockets of course!

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

MLS - represented myself as my own buyer's agent. Received $1,000 seller credit for inspection items. Sellers added baseboard heating to unheated sunroom to ensure the square footage was included in the appraisal.

How did you finance this deal?

5% Conventional Loan. Sold a condo in south Denver and used those proceeds along with $2,000 borrowed from my Roth IRA account.

How did you add value to the deal?

I offered full appraisal gap coverage (property appraised at value), a 23-day close, limited inspection items to health/safety such as electrical, roof, radon, etc., and put down $10,000 in earnest money.

Lessons learned? Challenges?

Make sure all rooms in the house are heated. Unheated rooms will not count as livable square footage in the appraisal.

Always do your due diligence based on the inspection report. Found very shoddy electrical work in the electrical panel and received a credit from the sellers to repair after closing.

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

I work as a realtor with the FI Team under Craig Curelop and definitely recommend any agent on the team!

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