This is the second of our current Add-A-Level projects. Although this one was purchased first, Due to zoning issues as well as flood zone discrepancies, we are behind. Now with the weather getting better, we are racing to catch up and finish this project just after the other. Again - this is funded by Hard Money and PML. Mac Investment Property Group is subbing out all trades for labor, but we are performing all material negotiations and building department communication.

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

This was one of my first Add-a-level projects. I was interested in forcing equity into the home because of the area. Livingston NJ is a ranked school district and many families are looking to move into this area.

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

I found this deal through another local investor who picked up this lead but didn't have Livingston as their "target" area. They were willing to wholesale the deal in order to focus on their niche closer to the city.

How did you finance this deal?

I financed the deal through Hard Money as well as Private Lenders for initial deposits and carrying costs.

How did you add value to the deal?

I was able to force equity into the deal by increasing the square footage more than 2X, adding bedrooms, and upgrading all of the interior features.

What was the outcome?

It is currently a Live listing. Went on the market yesterday.

Lessons learned? Challenges?

Tremendous learning experience as it was one of my first add-a-level projects. I purchased all materials and managed the projects as the full-time "GC". Lessons include (but not limited to): managing the construction process, learning costs of materials in every trade, learned the building dept process (specifically in this town), Managed two projects at once for the first time, etc.

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

Signature Realty listed this house. They are tremendous marketers and have investor mindsets. If you are doing work in Jersey, these are highly recommended professionals to work with. From start to finish they can help you pick out designs, what will add highest value, and will market your home on the back end second to none.