All Forum Posts by: Laura Hanna

I have a perfect property for BRRRR or fix&flip east of Dallas. It will need some structural/electrical/plumbing work that is beyond my abilities. I'm having a difficult time finding contractors. Any suggestions?

Newbie question.  I have a single family home that has been converted with five individually secure rooms. Tenants (college students) share a common living space with 1-2 tenants per bathroom.  They sign and pay separate rental agreements. The set-up is similar to an apartment or a dorm. When I'm asked - do I have a single family property with multiple units? or a multi-family property?

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $410,000
Cash invested: $10,000

Single-family home converted into a co-living multi-unit home for college students. Each unit with individual locks. Shared primary living space. 2 units per bathroom.

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

I have a college student in the area and finding safe, affordable housing for college students is challenging.  I have 4 current tenants with a 5th optional room, which is easily covering expenses with 3 months of safety net savings built after 3 months.