I have a property that is dadu ready I have a heloc for 227,000 I want to build a dadu with the heloc money but I'm sure the cost is more than my heloc how do I get the rest of the money to finish the build so I could refi after to pay the heloc back could I get a construction loan for 100,000 to help finish the dadu?

So for a 750 sqft ADU it could cost anywhere from $180,000 to $225,000.

I haven't set specific targets beyond this initial goal, but I may aim to increase my passive income to $5,000 or $10,000 per month in the future.Current PropertiesI currently have two properties:The Loft:This property is rented out long-term and generates around $300 per month in passive income after HOA and management fees.The loft has approximately $100,000 in equity.The House:This is a brand-new build (2024) that I'm currently occupying through house hacking.I invested $70,000 in the property, which means I have $70,000 in equity.My plan is to convert this property into an Airbnb or long-term rental within the next two years.Short-term rental comps suggest I can earn around $3,500-$4,000 per month, while long-term rental comps indicate I can earn around $3,000-$3,300 per month.Seeking AdviceGiven my upcoming financial situation, I'm seeking advice on the best course of action.

So, they don't want it but even if you say ok, it'll be worth it due to the costs.

Purchase price: $450,000 Cash invested: $450,000 bought a run down mis managed 16 unit property, with my investors, for $450,000 Rehabbing units as they become available and increasing NOI.

Back then, prices were much better, and turnkey marketers could make a decent fee.As prices increased, many turnkey providers had to move to less desirable areas (I know people are always looking blame other people but in reality blame it on yourself for being the investors that picked bad areas and did not do due-diligence and buy assets where the numbers worked with 10-20% economic vacancy), and now that gap has essentially disappeared.

@Terri-Leigh H.can you breakdown what your costs are to furnish each bed and additional furniture, furnishings cost are for a 5 bed property. 35k seems high compared to what we have encountered.

If you are near Chicago I can share some great events coming.If you own your home you either have to have equity or renovate to increase equity in order to refinance....is that the case for you currently?

This involves finding distressed properties, using savings for down payment and renovation costs, and using investors for closing costs.Good luck!

But when I got my first bill from the attorney for 3000K+ I started to worry about how high legal costs could get even if they buyers dont win.