Updated about 2 years ago on . Most recent reply
SFR in California turned into a 3-unit rental and still is an SFR.
Investment Info:
Single-family residence fix & flip investment in West Somerset.
Purchase price: $600,000
Cash invested: $400,000
This acquisition went from a SFR to a 3-plex by redoing the backyard, adding an ADU and a JADU through a garage conversion. Any home in California can be turned into a 3-plex for cashflow now. Let us show you how.
We are licensed and bonded and overall we have done over 200+ kitchen remodels, over 350+ bathroom remodels, 100+ additions, 300+ pools, close to 500 backyards, 15 brand new ground-up construction (entire home builds) and about 20+ ADUs.
What made you interested in investing in this type of deal?
The ability to turn an SFR into a 3-plex by adding an ADU and a JADU (junior adu [garage conversion]) means we can maximize cashflow and get a huge ROI by also adding square footage and adding overall value to the property.
How did you find this deal and how did you negotiate it?
We have off-market resources in our area.
How did you finance this deal?
Using private money and investor capital plus our own swat equity and capital.
How did you add value to the deal?
We did a full remodel, add an ADU a JADU and pool and back yard.
What was the outcome?
The property basically doubled in value and is cash-flowing very high with the 3-units.
Lessons learned? Challenges?
Permitting and plans can always be a hassle in the post-covid world, but it is worth it.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
We have our own in-house team so I suggest you work with us. We are a one-stop shop.
