My First Rodeo/House-Hack/BRRRR

5 Replies

Investment Info:

Single-family residence buy & hold investment in Atlanta.

Purchase price: $450,000

This is my first investment/purchase, and I'm basically trying to house-hack this into a BRRRR. It's a 2,300 sqft ranch with a total of 4b/3ba. I'm currently renovating the basement (adding another 500 sqft) as a full 1b/1ba in-law suite, with separate entrance and parking. Before the pandemic, I had a steady rotation of airbnb style tenants I found through word of mouth.

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

Bigger Pockets Podcasts & Books

How did you find this deal and how did you negotiate it?

Real Estate Agent

Lessons learned? Challenges?

The challenges and lessons seem to appear daily, this being the first time. But I think spending more time to find the right agent would have saved me a lot of headaches and surprises.

@Cody Barna this was all funded out of pocket. I basically went through the traditional method of buying a home, while keeping in mind that this was an investment, not my "forever home". I only had to put 3% down, and the seller paid $10k in closing. I was also able to purchase at $8k under appraised value, so the instant equity was nice. Hopefully when I get to the refinancing "R" of the BRRRR, I should get the renovation capital back, in addition to the rental income. I'll post an update once the final numbers are in.

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