And transform to BRRRR strategy starting from my later deals.

It has transformed my Personal Financial Statement in just over three years.

I read (and listen) a lot about all potential strategies such as BRRR, single vs multi family, cash flow vs flipping, transforming a single into multi-family, playing the equity component, tax benefits etc.

We take dilapidated homes and transform them into clean, safe, live-able spaces that create homes for people who either cannot afford a home or chooses to rent.

You want at least a 30% margin above costs and the NOI needs to be enough to pay the debt service after stabilization and then some.If the project looks feasible from a financial standpoint the next step is to check with the city or county planning and zoning department to get an idea if your concept will work, if you can build what you would like to build and what is required for all approvals including site plan, building permits, proffers, water/sewer tap fees, bonding requirements, inspections, setbacks, lot coverages, parking requirements, height restrictions, C/O process and time frame for all approvals.You also need to check with the utility companies and get an idea of availability and cost estimates from them for water, sewer, power, gas, cable, installation and connection requirements, tap fees, hookup charges, transformer location and relocation, power line and power pole relocation issues.

The area is not really the best but little by little they are building brand new homes right next to older ones and the neighborhood is transforming.

If you take on the program and succeed, it transforms your life.

Is it worth the transformation?

We’ve outgrown our family home, but instead of just selling it, we wanted to keep it & rent it long term. $200k + equity in California home. Hoping to transfer to LLC? Good idea? Thanks!

The exterior was updated with new smooth stucco for a modern update and the backyard was completely transformed.