Duplex House Hack - Deal Overview
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Source: On market. Worked with realtor to purchase. Purchased in 2019 for $307,000.
Financing: Conventional. 20% down. Loan amount $260,950. 5.125% interest. Monthly mortgage and Escrow - $1,794.44.
Improvements: $40,000. Full renovation prior to moving into 179. Renovation of 181 took place over three months during transition from long term tenant to corporate rental model.
Strategy: Buy & Hold.
Due diligence: Full inspection.
Outcome: House hack & Long-Term rental for one year then moved to Corporate Rental model. Minimum 30-day rental agreement.