Built an ADU to pay for mortgage

[Michelle Richardson]

Investment Info:

Other other investment.

Purchase price: $50,000
Cash invested: $50,000

Built an ADU

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

Add additional income and offset mortgage.

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

Easy one - built it in back yard.

How did you finance this deal?

Cash

How did you add value to the deal?

High end finishes.

What was the outcome?

Rents monthly for more than my mortgage amount.

Lessons learned? Challenges?

Get the right GC.