My first investment property. A house hack/live-in flip.
Investment Info:
Single-family residence buy & hold investment in Denver.
Purchase price: $234,000
Cash invested: $15,000
Purchase: 231,000 @ 5.325%
Closing Costs: 7,000
Down-payment: 5% grant of 11,700
Cash-out Refinance: 237,000 @ 3.75% + 2,000 cash out
Rehab: 10,000
ARV: 265,000
Cash flow: 37 (+180 self manage)
What made you interested in investing in this type of deal?
I received a down payment grant from the city.
How did you find this deal and how did you negotiate it?
MLS. As-is and waived inspection contingency.
How did you finance this deal?
Cash Savings and a down payment assistance grant from the city.
What was the outcome?
Rented out the bedrooms, finished the basement.