First property! Denver House Hack

[Travis Hatch]

Investment Info:

Single-family residence buy & hold investment in Denver.

Purchase price: $405,000
Cash invested: $15,150

My first property, doing a single family house hack. 3 bedrooms upstairs, 1 in the basement. Renting the 3 upstairs bedrooms to live for free, building a room in the basement for cash flow.

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

Originally looking for a multi family house hack, the numbers weren't working. It started to make sense to work the single family house hack, and then this deal came along which worked out great so far!

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

This is an off market deal that I found through a family member. My aunt is a real estate agent in Maine who got a call from someone who wanted to buy a house from them in Maine and needed to sell their home in Denver. I was with her at the time, so I spoke with the seller and we handled the whole thing off market.

How did you finance this deal?

Conventional loan, 3% down

How did you add value to the deal?

Buying below MLS value, and building an additional bedroom

[Jeff White]

@Travis Hatch Great job man! Sounds like a really good deal, especially in Denver. I personally have done rent by the room house hacking, and it has the best ROI easily and really not that challenging if you choose good roommates.

Also, add a egress window in the basement if you plan to rent it or live down there. They go for about $3-4k in Denver for one, and they will give you piece of mind if a fire happens and they can exit safely.