All Forum Posts by: Toby Kienzle

 I'll invite you to the next one for sure.  We plan on making this a regular event.  Thank you!  Toby Kienzle | PLACE 

Unlock Your Property's Potential with ADU/DADU!

Discover the key to expanding your living space and boosting income with Attached Dwelling Units (ADU) and Detached Accessory Dwelling Units (DADU). Our course guides you through state laws, strategic planning, and profiting from these modern living solutions.

Key Topics:
Explore ADU and DADU basics, multigenerational housing strategies, condo processes, financing insights, and learn how to source, fund, and profit from ADU/DADU deals while evaluating the highest and best use for your property.

Benefits and Trends:
Unlock the independence, privacy, and passive income offered by AADUs and DADUs. Discover the advantages of DADUs, including multi-generational living, generating passive income through rentals, and boosting property values. Stay ahead of market trends in 2024, as DADUs align with affordability, sustainability, and versatility.

Profitable Options for Homeowners:
Choose your strategy!1. Sell Your Backyard: Condoization for immediate returns.
2. Develop and Sell: Maximize profits by developing and selling the property.
3. Develop and Rent: Generate continuous income by developing and renting out the ADU and/or DADU.
4. Sell It All: Opt for a comprehensive strategy and sell the entire property.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $417,000
Cash invested: $20,850

Great duplex in a great location.

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

We wanted a home where we could 'house hack' and rent out a room. This was perfect because it has a 2nd kitchen and separate entrance.

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

On the MLS.

How did you finance this deal?

Conventional loan. 5% down.

How did you add value to the deal?

It was completely remodeled at time of purchase. All we had to do is BUY it and rent it out.

What was the outcome?

Love this property! It requires very little maintenance and is always occupied. The cash flow and appreciation have been impressive.

Lessons learned? Challenges?

Lesson learned -- any renter should house hack their way to into their first property. Having someone else cover you mortgage is liberating. The power of homeownership is REAL!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $30,000
Cash invested: $100,000

4 plex in dire need of a full rehab.
Plan is BRRRR or fix and flip.

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

Seems like either a good BRRRR property or a fix & flip.

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

Broker. Seller was very motivated.

How did you finance this deal?

Mostly cash. Using financing for the rehab.

How did you add value to the deal?

Property needs 90% rehab.

What was the outcome?

Work in progress. Hope to be done by August.

Lessons learned? Challenges?

Always budget for more.

Investment Info:

Mobile home other investment.

Purchase price: $1,420,000
Cash invested: $400,000

63 pad Mobile Home Park with one single family home and a big shop. 20 acres with room to grow.

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

Cash flow. Value add opportunity. Lots of exit strategies: BRRRR, buy and hold, fix / flip, further development, and split lot. And the right team on the ground.

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

Broker. Offered a Win / Win price with great terms.

How did you finance this deal?

Bank Loan

How did you add value to the deal?

Infill ~10 homes [in progress]
Upgrading all heat/ac units to new high efficiency units [no cost to the park owner or tenants]. Added $130k of new units for $0!
Remodel vacant shop into paid storage spaces.
Clean up the park (odds and ends / landscaping).
Increased rent.

What was the outcome?

Park residents [owners & renters] have been happy with our take over.

Lessons learned? Challenges?

Wish a Seller Financed deal would have worked here. Need to have solid financier on the team!

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

Yes. (but I was not the main point of contact)