Address Your Financial ProfileBridge the Revenue Gap: Highlight your equity in the duplex and use your sale proceeds to demonstrate “skin in the game.”Partner to Compensate Experience: A financially strong and experienced partner can help offset your limited track record.Focus on the Land Deal: Secure the land at a good price, as it’s a crucial step in gaining credibility and attracting partners.Final ThoughtsYou’re entering an exciting and impactful space in real estate development.

Make sure you know the impact that adding an ADU will have on any rent control. 12) investors seldom include the land value in the overall ADU costs.

@Derick JenningsRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Screening everyone over 18 helps reduce the risk of costly evictions and ensures you’re fully informed about who will be living in your property.Additionally, be mindful of the number of occupants and how it might impact your property.

As you know, marketing and price are both very important, and vacancy will significantly impact your income, so you are almost always better off charging a lower price and getting it filled with a good tenant.  

Hi Kin,Three quick questions come to mind that would impact your situation.

If your mother does not want to carry the note long term, there are GSE renovation loans that can be used for both purchase, rehab, and permanent financing all in one loan.

Small demolition projects make massive impacts.

I focused on high-impact renovations that aligned with the expectations of Hamptons buyers.

Has anyone here retired debt-free, and how has that impacted your life versus maintaining debt for investingLooking forward to hearing your thoughts and experiences!