Updated over 4 years ago on . Most recent reply
Austin Duplex Win (Purchase to Refinance)
I bought a duplex last July in East Austin to househack with an FHA loan. I was able to remodel my unit right away but had to wait until January to start the other unit. This meant I also had to take $900 for a 3 bed from that current tenant. That took me until March to finish and I rented it out mid March. Purchase price was $341,000, rehab was $65,000 for siding, windows, HVAC in both units and complete interior remodel. Rent is at $1795 on the rented side and my living expenses are around $700 per month currently for a 3 bedroom unit 15 minutes from downtown. I am currently refinancing into a conventional loan to get the FHA loan back for my next one. The appraisal came back at $565,000 today! In the next few months we'll move into my girlfriends househack and in the near future I'll start looking for another for myself! You can househack in any market so get after it!
- Jordan Moorhead
- [email protected]
- 512-888-9122
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#1 New Member Introductions Contributor
- Solo 401k Expert
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@Jordan Moorhead congrats on your investment!