STUDIO/MOTHER IN-LAW SUITE

[Cody Gagnon]

Investment Info:

Other other investment.

Purchase price: $14,000
Cash invested: $14,000

STUDIO/MOTHER IN-LAW SUITE CONVERSION. DO NOT OWN THE PROPERTY, JUST THE INVESTMENT IN CONVERTING THE LIVING SPACE.
WILL HOLD FOR 6 YEARS AND WILL MAKE MONEY BACK IN 2.5 YEARS. WILL DOUBLE MONEY IN 6 YEARS. OWNER GETS INCREASED PROPERTY VALUE AND A UNIT HE CAN THEN RENT OUT AFTER I AM DONE WITH IT. USED MY OWN FUNDS FOR THE DEAL.

What made you interested in investing in this type of deal?

MONTHLY INCOME

How did you find this deal and how did you negotiate it?

WORD OF MOUTH. KNEW THE PERSON WOULD BE OPEN TO IT

How did you finance this deal?

CASH

How did you add value to the deal?

INCREASE OWNER PROPERTY VALUE AND GIVE THEM THE OPTION FOR MONTHLY ICOME ONCE TERM IS OVER

What was the outcome?

MONTHLY INCOME

Lessons learned? Challenges?

DO NOT CAPTURE RE SALE OR APPRECIATION. ALSO DIFFICULT THAT IT RELIES ON SOMEONE ELSE OWNING THE PROPERTY.