Denver MTR House Hack at 6.99% Int. Rate. Cashflow Positive!

[Ben Einspahr]

Hello BP Community! Want to highlight the details of Bartleys first house hack purchased in April of 2023. Bartley was ready to move! From the time we connected to the time he was under contract was less than 7 days!

Investment Info:

5 Bedroom/ 4 Bath

Main House = 3 bed/ 2 bath. After we move out, will be rented out as a unfurnished long-term lease.

Mother-in-Law = 2 bed/ 2 bath. Renting out as furnished medium-term rental.

Purchase Price:

$523,000

Closed April of 2023

Cash Invested:

$38,000

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

We wanted to add to our rental portfolio while also in need of a bigger house due to our growing family.The thing we really love about the house is the huge, well taken care of backyard that gives my family plenty of space for outdoor activities.

How did you find the deal and did you or the agent need to do any negotiating?

Our agent, Jeff White found the deal for us. As soon as we saw the property, we knew we would love it!

How did you finance the deal?

5% down conventional loan

6.99% int rate

Did you add any value?

Yes. Here is a list of the value adds. All of this was self performed on the weekends and evenings after work.

• -Painted entire house (both units)= $600
• -Added a fence in the back yard to give both parties privacy= $200
• -Furnished the upstairs unit= $2,000
• -Added 2nd washer and dryer so each unit had their own= $500

Total costs= $3,300

[Jeff White]

@Ben Einspahr Great job Bartley, this is a perfect example of a house hacker with a family that is making things happen, and this property stood out because it was rent ready condition, and it still gave full privacy to Bartley's family while still letting him rent out the other ADU unit above the garage, and the backyard is easily the best backyard I've ever seen in any house, so I'm super pumped for him and his family.