Garage Conversion and Addition ADU

[Manraj Singh]

Investment Info:

Single-family residence buy & hold investment in Vista.

Purchase price: $565,000
Cash invested: $50,000

Currently living in the main house and Plan to convert the detached garage into a 600 sq feet 2B1Ba ADU. Design phase is complete and approved from city. Looking for 2nd lien position loan programs to fund construction. ( Any help/tips , happy to hear from you)
Plan to rent out the Main house and ADU to cover the PITI + some.
It will still cash flow negative for first 3 years atleast.
Aim is for a Cap Rate of 5 %