Updated over 5 years ago on . Most recent reply
House Hack for 37% COC returns!
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $266,000
Cash invested: $30,000
House hacking my primary residence by renting out each room to cover my mortgage plus some!
What made you interested in investing in this type of deal?
Prime location in 'The Islands' in Gilbert AZ. Recently voted safest city in the nation and property values are skyrocketing! The economy in this area is known for above listing prices and escalation clause galore!
How did you find this deal and how did you negotiate it?
MLS. This property was the worst on the block. On the market for over 60 days which needed a full renovation. Used the inspection to outline the scope of work needed for the out of state sellers and using the sellers disclosure to make them acknowledge the repairs needed so that they couldnt play dumb about the condition of the house.
How did you finance this deal?
Conventional first time buyer home loan 3% down.
How did you add value to the deal?
Full renovation. Interior/exterior update.
Most Popular Reply
@John Bradley smart, yeah in Gilbert we can get rents like that and they are reasonable for only 1 bedroom 😂