Updated about 2 months ago on .
House Hacking An Existing Property
Investment Info:
Townhouse other investment in Cebolla.
Purchase price: $287,000
Cash invested: $8,500
House Hacking - lower basement
Creating rental income:
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Studio apartment
Full Bath
Patio
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Cost:
door - entrance
Lighting
Smoke detector
Custom closets
Blinds
New sliding glass doors
Shower
Washer Dryer hook up
Microwave
Mini refrigerator
Splinter A/C /heater
All purpose table top oven
What made you interested in investing in this type of deal?
Simplicity
How did you find this deal and how did you negotiate it?
Creating a revenue stream with my existing property
How did you finance this deal?
Cash & credit
How did you add value to the deal?
Full service and Coordination
Providing Resources
Managing the project
Vetting contractors
Finding renter ( credit & back ground check)
What was the outcome?
Break even within 7 months and all stakeholders are happy
Lessons learned? Challenges?
There is always more to do. Would have like to have added a kitchenette.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am a real estate broker serving DC & MD
