split a 6 bedroom into two units

[Kody Smith]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $1,280,000
Cash invested: $400,000

we were presented with the deal by a flipper needing to exit the deal. it was only rentable for $4500/mo as is, so we created a second unit. now it brings in $7200/mo

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

cash flow

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

it was presented to me by a realtor i knew

How did you finance this deal?

conventional loan

How did you add value to the deal?

split the home into two units, upgrade appliances, add hvac, split the yard for each unit.

What was the outcome?

the tenants sometimes do not get along, but mostly it is going ok.

Lessons learned? Challenges?

sound proofing is very important.

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

Van smith (keller williams), and Kim Dao (pacific wide realty)