Added new water resistant laminate floors, paint throughout, complete bathroom renovation (except vanities), new kitchen cabinet doors and countertops, refinished original cabinet bases, new windows, all new interior doors, refinished front door, all new appliances, white subway tile master bath, faucets and shower heads, white subway tile kitchen back splash, all new fans and light fixtures, new hot water heater, roof repair, and all new electrical outlets and switches.

I met a man here in Tallahassee (randomly in a subway while I was waiting for my car to be repaired) who referred me to the Bigger Pockets Podcast.

I do not want to spend too much money on the backsplash and countertops but I don’t know which type ( subway tiles or press on tiles; granite or quartz) of material should I choose.

The same can probably said for Longueuil if you're hoping to stay near the subway line.

Tenant reply by email and they request a conference call to discuss and negotiate the leasing terms that will be suitable for them if they like the location i) your friend will then coordinate and connect the national tenant with the Fund Manager for everyone to get on a conference call or a zoom video to negotiate the term details such as how many months free rent, tenant improvement allowance, if they can go dark, any exclusives etc etc (Your froend should not worry about that part because the Fund Manager will can handle all those details) j) after that a Letter of Intent to lease will be signed by the parties reflecting the National Tenant’s intent time and proposed commitment to lease the space for 10 or 15 years with a NNN lease (NNN means: Tenant pays the lease plus taxes, insurance and maintenance) and a corporate guarantee (lease is guaranteed by the national tenant for the duration of the 10 or 15 years lease and it is backed by their entire company and their financing bank like Wells Fargo) and it will also reflect any other terms such as escalation of rent over time, renewal option for the lease if any etck) The National tenant usually sends a designer or representative to take a walk through the property and then they are ready to sign the lease agreement l) It is then that your friend will assign the deal over to the Fund Manager who will pay all cash and your friend will get an assignment fee (usually between $40k and $150k)Here is how the numbers will work: Property vacant under contract say $600k and now with a national tenant lined up to pay say only $5k a month NNN (meaning a base tent of $60k a year and the tenant pays taxes, insurance and maintenance and the lease again has a corporate guarantee) the property will then be valued easily at over $1,000,000 (6% cap) The upside instant increase in value is $400,000 and usually the assignment fee that your friend gets will be 10% of that upside which is $40k all done within 60 days (assignment fee could be 25% of upside if Tenant commits to 15 years and in this example it would be $100k (25% of $400k upside value increase) Please note that: - No real estate license is needed - No additional cash is needed from your friend - No rehab process is needed (all is negotiated as discount to Tenant to do improvements the way they want up to their standards because Subway has different needs than Starbucks or Fat Burger Eyc based on their style and standards) - No due diligence or inspections are needed on your friend’s part, it is all done by the Tenant’s Representative- There is No Down side risk because if no tenant responds during the 45 days due diligence, your friend can simply cancel the contract and get her $5,000 refunded (or whatever amount she put in as earnest money deposit) - This can be done wherever your friend lives in the US - Almost all is done by internet and phone except for a couple of visits to the property The fund manager gives the training, the Proof of Fund, the process, the script the support, the tenant list, the negotiations, and the cash to close because the property eventually gets assigned to the the deal estate fund This will not happen every 60 days but your friend has no downside, a huge upside and if done just 3 times in an entire year she will easily have over $120k in assignment fees’ income, plus experience (which btw achieves her goal of $10k per month) Here is the best part, usually after a couple deals someone like your friend will realize that she can grow on her own by getting the properties under contract vacant at a lower price for herself, then she can get a national tenant interested and committed, then she can then get a loan on her own and purchase the property at $600k.

Tenant reply by email and they request a conference call to discuss and negotiate the lease terms that will be suitable for them if they like the location i) You will connect the national tenant with the Fund Manager for everyone to get on a conference call or a zoom video to negotiate the term details such as how many months free rent, tenant improvement allowance, if they can go dark, any exclusives etc etc (You should not worry about that part because the Fund Manager will handle all those details) j) after that a Letter of Intent to lease will be signed by the parties reflecting the National Tenant’s intent to lease and the proposed commitment details to lease the space for 10 or 15 years with a NNN lease (NNN means: Tenant pays the lease plus taxes, insurance and maintenance) and a corporate guarantee (lease is guaranteed by the national tenant for the duration of the 10 or 15 years lease and it is backed by their entire company and their financing bank like Wells Fargo) and it will also reflect any other terms such as escalation of rent over time, renewal option for the lease if any etck) The National tenant usually sends a designer or representative to take a walk through the property and then they are ready to sign the lease agreement l) It is then that you will assign the deal over to the Fund Manager who will pay all cash and your friend will get an assignment fee (usually between $40k and $150k)Here is how the numbers will work: Property vacant under contract say $600k and now with a national tenant lined up to pay say only $5k a month NNN (meaning a base tent of $60k a year and the tenant pays taxes, insurance and maintenance and the lease again has a corporate guarantee) the property will then be valued easily at over $1,000,000 (6% cap) The upside instant increase in value is $400,000 and usually the assignment fee that your friend gets will be 10% of that upside which is $40k all done within 60 days the 45 day due diligence and 15 additional days to close (assignment fee could be 25% of the upside increase in value if Tenant commits to 15 years and in this example it would be $100k (25% of $400k upside increase) Please note that: - No real estate license is needed - No additional cash is needed on your part - No rehab process is needed (all is negotiated as a discount to Tenant to do improvements the way they want and up to their standards because Subway has different needs than Starbucks or Fat Burger Etc based on their style and standards) - No due diligence or inspections are needed on your part, it is all done by the Tenant’s Representative- There is No Down side risk because if no tenant responds during the 45 days due diligence, you can simply cancel the contract and get your $5,000 refunded (or whatever amount you put in as earnest money deposit) - This can be done wherever you live in the US - Almost all is done by internet and phone except for a couple of visits to the property The fund manager gives the training, the Proof of Fund, the process, the script the support, the tenant list, the negotiations, and the cash to close because the property eventually gets assigned to the the real estate fund This will not happen every 60 days but you have no downside, a huge upside and if done just 3 times in an entire year you will easily have over $120k in assignment fees’ income, plus experience (which btw achieves a goal of $10k per month which is most people’s income goal) Here is the best part, you can remove the fund manager and just do the deal yourself and use the $100k you have as a downpayment or a tenant improvement credit for the national tenant coming in and buy the property at $600k with an instant increase in value to $1Million Dollars You can put a small downpayment that you can cash out after the tenant is in the location and you can repeat the process each time increasing your passive income till you get to a net $10,000 per month passively (this would be 4 or 5 single tenant buildings that you will hold for passive income with full debt on each) and none of your own money since you will refinance each deal (banks love the corporate guarantees and interest rates today are very low) Getting $10k/mo income and increasing your net worth into the millions is only hard if you use conventional ways to buy commercial properties or try to do rehab or wholesale in residential real estate which are very tedious, slow, competitive and exhausting methods Fastest growing tenants right now during COVID-19 are Quick Service Restaurants and btw the last deal I did with someone like this was in July the single tenant vacant property was under contract at $900,000 and now with a national tenant in it with the NNN 10 year lease and corporate guarantee and escalations etc it appraised at over $1,500,000The assignment fee paid to the person with whom we did a joint venture because he lined up the deal was $60k for less than 20 hours of work on their part by phone Again it does not happen on every property but it happens often enough with less hassles and more upside than any other strategy I have experienced and I have been in the business as an investor, a fund manager and an educator for over 30 years

The goal was to remove the tub, and demo the old white subway tiles.

Rams Stadium is almost done, Clippers Stadium is behind it, a new subway line will connect LAX to West Hollywood via Inglewood -- and all of this is getting pushed through ASAP before the 2028 Olympics in LA.Plus, residential interest rates (or SFR's, duplexes, triplexes, or fourplexes) are crazy low right now.Plus, how's your income? 

Backsplashes don't have to be fancy, a simple subway tile for 4 rows is good enough.

We painted the whole interior of the house, took down the wall paper in the master bedroom and front bathroom, tore out the carpet in the master bedroom to expose beautiful wood floors and put in new kitchen countertops with a subway tile backsplash.