The David Greene Show DIY House Hack Deal Analysis | Episode 25
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Dec 17, 2024 Garret Dion, a savvy construction worker and house hacker, shares his journey of renovating two rental units for just $15,000. He explains how this smart DIY approach halved his housing expenses while boosting property equity. Listeners will be fascinated by his budget-friendly kitchen renovations and insights on effective design choices. Garret also dives into the benefits of house hacking and strategic property investments, equipping aspiring investors with valuable tips to save money and enhance their real estate portfolios.
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Garrett's Duplex Deal
- Garrett Dion bought a duplex in Westbrook, Maine, for $450,000.
- It was a two-bed, one-bath on each side, needing lots of work, but he could do it himself.
Unattractive Listing, Hidden Potential
- The duplex was found on the MLS and looked okay in photos, but was much worse in person.
- The listing photos showed a lack of effort in staging, a plus for Garrett.
Renovation Costs and Cash Flow
- Garrett spent $15,000 renovating both units himself, saving significantly on labor.
- His mortgage is $3,127, offset by $2,100 monthly rent, leaving him with a $1,000 out-of-pocket expense.