Updated about 1 month ago on .
Browns portfolio and growing
Investment Info:
Single-family residence other investment.
Purchase price: $240,000
Cash invested: $200,000
Built an ADU on a back lot of my parents' rental property 3435 Calavo drive spring valley, CA. 91978
1200 square foot 3 bed 2 bath and 2 car garage.
What made you interested in investing in this type of deal?
honestly, the cost of living here in San Diego is so high, and that was a big factor, but the biggest factor was to get out from my father's shadow, they own several properties in town and in Minnesota, just wanted to carve out my own lane
How did you find this deal and how did you negotiate it?
parents land and rental, just needed the money to build it
How did you finance this deal?
mostly cash I had from my refi and financed the rest through parents.
How did you add value to the deal?
built brand new ADU ground up
What was the outcome?
a beautiful single-family rental
Lessons learned? Challenges?
doing business with family is not for the faint of heart
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
my brother-in-law Seth Boisvert, amazing real estate agent here in San Diego