Updated over 6 years ago on .
House hacked a property in paradise
Investment Info:
Single-family residence buy & hold investment in Naples.
Purchase price: $470,000
Cash invested: $10,000
Bought a house in paradise with a separate ¨In-Law¨ suite to collect $1,000/mo
What made you interested in investing in this type of deal?
It had a separate private living area that could be leased for additional cash-flow
How did you find this deal and how did you negotiate it?
Set a very high criteria on MLS searches and one day it hit. Immediately made a cash offer.
How did you finance this deal?
Used my HELOC to offer cash
How did you add value to the deal?
converted the separate living area into a fully functioning 900 sq.ft. suite with kitchen, full bath, and private balcony
What was the outcome?
additional cash-flow
Lessons learned? Challenges?
get good sound insulation
