Sacramento, CA buy and hold

[Dan Sundberg]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $605,000
Cash invested: $120,000

Rehabbed the main house, and converted a detached garage to an ADU to rent out separately.

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

This allowed us to create a cash flowing property in a high appreciation market. Also, Sacramento is in an intense housing shortage, so anything to add additional housing to the area is of interest to me.

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Personal savings

How did you add value to the deal?

Added a bedroom in the main house, new flooring, and cosmetic refreshes in the main house. New plumbing and electrical. Converted 275 sq ft garage into studio apartment.

[Dan Sundberg]

@Colleen Chen - ah thank you for reminding me, I need to update this post! Yes, the project finished about 5 months ago and it went really well. I did the process as an owner-builder and so I worked directly with the planning and building department to get the plans signed off (first time doing this, it' wasn't too bad). I had my contractors though pull specific permits and meet with inspectors during construction. 

The only specialists I worked with were Housable.com who creates semi-custom ADU-specific plans. They were awesome and a bit part of the reason working with the city to get the project approved was so easy.

Your questions are all great ones...and it would probably be easier to talk through that on the phone...if you send me a DM I'd be happy to set up a call. 

Here's the link to the finished and furnished project. I'm really happy with how it turned out - https://www.furnishedfinder.co...