Any successful house hacking stories from Houston?

Question

Any successful house hacking stories from Houston? I'm in the market and looking but it's not looking good. Prices too sky high and numbers don't work. I am not trying to gripe because I know I will need to MAKE the deal rather than just stumble upon one. But I am just curious.

Andrew Dao · Answer

Im house hacking a 3/2 SFR in Southwest Houston using the BRRRR strategy. Renting out one room to my cousin and the other to a friend and their rent covers the majority of the property expenses. When I move out and rent it out to a family it'll cashflow. Went a little overboard on the rehab since I'm living in it but overall it's working out and its keeping my living costs low. Here's a few before and after pics and I'm open to sharing the numbers as well if you'd like.

Andrew Dao · Answer

Account Closed I was actually the GC and put in a lot of sweat myself. I'm degreed in architecture and the educational background help a lot. It took about 6 months from start to finish. It was an off market deal I found from (hate to say it) my bandit signs. The sellers (original owners from 1979) actually had  slightly higher offers but when I told them my background and intentions with their home, they decided to sell it to me.

But yes it was definitely above and beyond lol. I did all the electrical myself, and the millwork and additional wainscoting I also did myself, so the monetary cost was very low, but a lot of sweat. It is indeed too much to be done to any property in this area, but I have the capabilities and was going to move into it myself so I thought, why not?

The floors are actually a nice porcelain wood tile that I ran throughout the entire house. I have good relationships with my vendors and was able to get it for only 82 cents/sf.

The sweat I put in to the tasks that I was able to handle myself, allowed me to invest the saved capital into the mechanics and bones of the house (foundation, new roof, new plumbing, HVAC, etc.) and allowed me to get slightly nicer finishes than I would have put into any other investment property I wasn't intending on living in.

The goal with this property was longevity, since I will be holding onto it in perpetuity.

Mitchell Benson · Answer

absolutely but I bought mine a few years ago triplex 700 ft.² each unit one bedroom one bath

Probably the best financial decision I’ve made

Account Closed · Answer

@Andrew Dao Did you use a General Contractor or were you the GC and just worked with subs? Also, how long did the process take from start to finish? Finally, was this a MLS purchase and, if so, when?

I do suspect, like you said, you went a bit above and beyond! The lighting is very well done. The wainscoting along the walls is a nice touch but probably too much for that market. If those are wood floors, you may have saved quite a bit using faux wood tile. It's a lot cheaper these days and more durable!

Mark Sewell · Answer

Man, I'm working on it!  Looking at one tomorrow in 77082.

Mark Sewell · Answer

Oh wow, I did my one flip right there, in that Ashford Park subdivision.  Small world.

@Andrew Dao

My man, that is a smoking house, great photos!!!  I know you don't plan to sell, but you shouldn't have too much trouble if you ever change your mind on that.

Andrew Dao · Answer

@Michael Thoma Thanks! I have a fourplex out in Richmond I was considering house hacking but the location was too inconvenient for me so now one of the units is an AirBnB and the other 3 are long term rentals. I definitely recommend house hacking in general, especially if you're first starting out. You'll learn a lot, save alot of $ in living expenses, and also you'll be on site to manage the property as well (but still factor in 10% management into your numbers). You can do it!

Michael Thoma · Answer

Awesome! That gives me hope. I know they're out there!

If you don't mind me asking, what part of town? What neighborhood?

Andrew Dao · Answer

Account Closed Haha when I find an opportunity I will. I started on my real estate journey right out of Architecture school, ultimately to get to designing and developing my own properties from the ground up. Along the way, I'm going acquire as many rental properties as possible!

What happened to your rental property on Synott and Richmond? Do you still own it? Do you happen to have any more properties in this area?

Michael Thoma · Answer

Account Closed what is an ideal layout for a duplex? I realize some homes are better suited for that kind of thing but is there a general rule or anything? I've never come across one.

Any successful house hacking stories from Houston?

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