All Forum Posts by: Benjamin Peet

The ADU is 2 bed 1 bath

To update on this deal;

It is now a 3 bed 1.5 bath home with a 900 sq ft ADU on the bottom level. All cash for conversion was taken out of the deal via COR. It currently cashflows $2200. I still have $3,000 in this deal and has been a home run so far.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $318,000
Cash invested: $3,000

All-Inclusive Deed of Trust; financed 318,000 I paid $3,000 for closing costs. Current market value 475k rents for $2,100 Per month.

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

Who wouldn't be interested in owning a home for $3,000 out of pocket?

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

My father (broker) taught me to look for AITD's and different ways to acquire real estate with next to nothing out of pocket.

How did you finance this deal?

AITD

How did you add value to the deal?

Cleaned and painted, put renters in, appreciation

What was the outcome?

Cash flows today, will start to cashflow $900 a month free and clear once refi goes through

Lessons learned? Challenges?

COVID EVICTIONS IN CA , CHECK YOUR TENANTS RENTAL HISTORY!!

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

Quick Sale Real Estate

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $318,000
Cash invested: $3,000

All-Inclusive Deed of Trust; financed 318,000 I paid $3,000 for closing costs. Current market value 475k rents for $2,100 Per month.

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

Who wouldn't be interested in owning a home for $3,000 out of pocket?

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

My father (broker) taught me to look for AITD's and different ways to acquire real estate with next to nothing out of pocket.

How did you finance this deal?

AITD

How did you add value to the deal?

Cleaned and painted, put renters in, appreciation

What was the outcome?

Cash flows today

Lessons learned? Challenges?

COVID EVICTIONS IN CA , CHECK YOUR TENANTS RENTAL HISTORY!!

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

Quick Sale Real Estate

Small Brokerages in areas where there is VOLUME. This, in my opinion, is where you will get the most hands-on help.