- Rental Property Investor
- Colorado Springs, CO
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House Hacker Looking for Financing for 3rd House Hack in Colorado
My wife and I are prepping to do our third house hack in Colorado Springs. Our finances have become interesting with rentals, Airbnb, & W2s. We are looking for another SFR that cash flows while we live there, cash flows when we move out, has an ADU, guesthouse, or layout that is conducive to splitting it up on the inside with separate entrances, and/or a detached 2 car garage that we can convert to a residence / ADU.
I have heard from my last mortgage broker and a couple investors that First Bank / 1st Bank can sometimes do things that brokers cannot do. I thought that was interesting so I thought I'd come on here and see what other options we have and hopefully get pre-approved for our next house hack!
Thanks Everyone!
Here's some details about what we've done so far:
Property 1: Corona St
Purchased in early 2018, zoned R2. 5% down, conventional.
Main House = 1200 sqft, 3/2 house
Guest House = 600 sqft, 1/1 ADU (guesthouse)
We lived in 218 during 2018 (so it wasn't rented in 2018) and short term rented 216 during 2018 too.
Property 2: Platte Ave
Purchased in early 2019, zoned R2. 5% down, conventional.
Main House = 4/2 house with 2/1 upstairs and 2/1 downstairs with separate entrances. Upstairs is rented out and we live downstairs.
Unit B = studio garage conversion ADU. Rented out.
Property 3: TBD
Max purchase price with 5% down?