Value Add House Hacking

[Masyn Grant Barney]

My FAVORITE strategy for those looking to house hack right now 👇


Small multifamily and homes with basement apartments sell at a premium right now (Especially in UTAH).

They are some of the more sought after homes, and it can be tough to get a good deal if you aren't well positioned.

So I like to lean into a combination of house hacking and value add.

Find a home that has a basement entrance and has at least 1 bed and 1 bath down there.

Find out if there is a wall with convenient access to plumbing drains. and if that area could work as a kitchen.

If you find that, add a kitchen in the basement and turn it into a basement apartment.

You have now forced equity and created your own house hacking space.

What I really love about this strategy is that you can often get a nicer home this way compared to buying something that already had a basement unit.

I did this to my home in Spanish Fork for a total of $6k including appliances.

Looking at comps (unfortunately there aren't many) I believe I have increased the value about $30k-$40k.

That's a nice ROI for 3 weeks worth of work.

Have you considered this value add house hacking strategy? 

[Anthony Swain]

@Masyn Grant Barney Hey man! 

This sounds like a great idea!

Small multis are tough to come by in Charlotte too. I think people are getting more creative thinking about separate living quarters (basements, split levels, etc.). 

That would be a great value add finding one that you could add a kitchen/kitchenette to make it more like a separate apartment. 

I love the value add in general because it helps your wealth-building potential and equity position. 

Thanks for sharing this Masyn!