All Forum Posts by: Suly B.

Investment Info:

Single-family residence buy & hold investment in Northglenn.

Purchase price: $375,000
Cash invested: $20,000

This will be our 2nd house hack. This single family property has 6 bedroom/3 bathrooms. We live in the basement and rent out the upper unit to a family. The mother-in-law suite will be rented by the room in February 2018.

@Anthony Wick 

When I first started using facebook marketplace to post ads for rooms that were available  people would go as far as confirming they'll show up hours before a showing and never show up. It was frustrating so now I book 10-15 people in a slot knowing that only 3-5 will actually arrive for a showing. I don't have to waste my time in traffic for the flakes anymore. 

@Jeff Beaman, You're welcome and oh yeah you'll definitely require a lot more space with a growing family. 

For my 1st house hacking experience we lived in one of the four units in a multi family property we bought in Denver. For the next property and to avoid paying so much towards a downpayment for a multi family we bought a single family home with a mother in-law suite. It's much like a duplex minus the price (6 bedrooms 3 bathrooms, 2 kitchens, 2 laundry rooms etc) The entire place is rented by a family except the 2 rooms in the mother in-law suite. We hope to have that part of the home fixed up and rent ready by February. 

@JeffBeaman, you could househack until you find another place, it's a great strategy! Here's a blog post from biggerpockets that's helpful. I'm a househacker myself and it's been great.

https://www.biggerpockets.com/renewsblog/2013/11/0...

Awesome, thanks Patrick! Do you house hack?

Investment Info:

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

Purchase price: $630,000
Cash invested: $60,000

Moved out of our 2 bedroom condo to pursue house-hacking in a fourplex with boyfriend
Monthly cashflow: $700.00

Janice, way to go! If you haven't already, I encourage you to talk to your CPA about

cost segregation so that you can depreciate items of your 4plex faster. I

Wow, great answers from everyone on here. That's a dilemma I hope I never have to go through because I'm such a softy when it comes to family. On a brighter note, did you know that your girlfriend could benefit from a cost segregation study on her condo even though her property is under $500,000. Whatever you decide to do, perhaps the savings from a cost seg study will help ease things up! Cheers Patrick!

I love to see transformations (before and after pictures)! Did you know, there are several components of your building that depreciate faster than the rest of the property? There is a tax strategy called Cost Segregation. Check it out, you could benefit you greatly Cam!