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Updated over 1 year ago,
Seller concessions for a Coliving house hack to use on Renovation
Hello!
I am looking to house hack a single family home through Coliving and renting out bedrooms.
I took a course on this and one of the main strategies pushed is using seller concessions towards renovations of a property to add bedrooms and bathrooms even when using a conventional mortgage. He wouldn't go into details on how he structures this unless you paid for his 10,000$ course on how this is structured.
Does anyone have thoughts on how to do this? My understanding is typically seller concessions can only go towards closing costs or buying down the rate. I am thinking maybe there is an agreement structured for payment after the deal is closed?
Thanks for any input