Discovered Massive Passive Income

[Brandon Schwab]

Investment Info:

Other buy & hold investment in Ringwood.

Purchase price: $250,000
Cash invested: $550,000

Purchased 4,880 sq ft property on a 5 year lease purchase agreement and converted property into a boutique senior living home with 10 assisted living beds. Average bed $5,200 per month with expenses $32,000 average per month

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

No longer working 80+ hours per week, Massive Passive Income & Coaching my sons baseball team

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

Listed on MLS for 500+ DOM (Days on Market)

How did you finance this deal?

Seller wouldn't carry back Lease Purchase so I found a Investor to buy and lease purchase it back to him & cover part of the rehab costs.

How did you add value to the deal?

Added drastic value by putting a business in the home that nets $20K per month, appraised for $1.8MM.

What was the outcome?

Provided excellent massive passive income since Feb 2017 and now we are purchasing the property landlord seller.

Lessons learned? Challenges?

LOTS-- too many to list. This was my first proof of concept for Boutique Senior Living and I learned A LOT! Did things different the next time