One block from beach 3BR 3BATH duplex.

[William Bohan]

Investment Info:

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

Purchase price: $698,000
Cash invested: $260,000

in process building two 2 BR 2 BATH ADUs on property yielding the 16500 when completed. Current cashflow is 9000/month.

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

Loved idea of real estate investing.

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

Brother in law Bill Morgan is real estate agent found this deal for me. Had to take equity from my home at same time as loan going thru on this deal so it was tricky.

How did you finance this deal?

above

How did you add value to the deal?

ADUs finishing touch. Just did nice remodel adding master bed and bath and losing one bedroom in process. Attracts high income tenants.

What was the outcome?

Very nice cash flow

Lessons learned? Challenges?

Lawsuits help! I was so naive thinking this stuff doesn't happen to good people but it did. Mold first and now 6 years and counting on a work comp suit hoping not to lose my shirt on this one.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Bill Morgan and Andy Blough are awesome! Based in Del Mar.