First House Hack in Fort Collins, CO

[Liz Ellis]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Fort Collins.

Purchase price: $510,000
Cash invested: $10,000

Primary residence house hack! Duplex. Long term tenant in 2/1 on the left, my wife and on in the 2/1 on the right! Plan to eventually turn this into a short term rental. Fort Collins had strict STR zoning, but this duplex just happens to be in the legal STR zone.

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

House hacking can unlock so much of your income to use for other investments.

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

MLS, offered over asking with appraisal gap and limits on the inspection contingency. We did receive some credits and a home warranty due to some inspection findings.

How did you finance this deal?

VA loan!

How did you add value to the deal?

We are doing light renovations in the side we live in. Improving the exterior of the property with new fencing and landscaping.