Updated almost 7 years ago on . Most recent reply
Tiny House Build/House Hack
Investment Info:
Single-family residence fix & flip investment in Ojai.
Purchase price: $3,200
Cash invested: $20,000
Sale price: $80,000
We purchased a 1984 Blue Bird school bus and turned it into a beautiful and very functional rustic modern apartment. It is 286 sq/ft and fully mobile. It has a bedroom with a king size bed, a bathroom with compost toilet and shower, a fully functional kitchen with a fridge, gas range and farmstyle sink. We lifted the roof by 16" to provide plenty of headroom for the average person.
What made you interested in investing in this type of deal?
We were looking for a way to live rent free, have the freedom to take our house where we wanted to and once done accrue some equity that we can put toward another investment.
How did you find this deal and how did you negotiate it?
We found it online, went to see it and negotiated to buy it for $3200 from $4000 as long as we paid cash within 2 days.
How did you finance this deal?
We paid cash for the initial purchase and funded the entire renovation with money made from my woodworking business.
How did you add value to the deal?
We essentially took and old school bus and turned it into a fully functional and mobile tiny house with a rustic modern interior.
What was the outcome?
We lived in it for two years, have since moved out and it is on the market for $80,000.