Adult Family Home Business

[Jennylynn Caldona]

Investment Info:

Single-family residence buy & hold investment in Renton.

Purchase price: $420,000

Renting out home to a person using the home as an adult family home business.

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

long term lease. very reliable. Renters are responsible for the condition of the property.

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

My family is experienced in the afh businesses. my realtor found me this deal.

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

I fixed the 4th bedroom and bathroom.

What was the outcome?

I was able to transfer the license of the business to my tenant. She was able to take over the business. She is using the income of the business to pay for lease.

Lessons learned? Challenges?

It took 6months to transfer the license.

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

Curie was my realtor. She's awesome 😎