All Forum Posts by: Rob Chiang

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $430,000
Cash invested: $300,000
Sale price: $2,200,000

Single Family Home that was originally a foreclosure. I lived here with my family for 7 years before converting it to an unofficial 3plex and rented the whole building out for 3 years. When I was living there, the home was too big for 3 people (2 adults and 1 baby) so why not get some extra income? I BRRR'd this property twice to buy 2 different apartment deals. I am in the process of 1031'ing these proceeds into an apartment building now.

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

Coming out of a 1400 SF condo, moving to a 3200 SF house with a 4 car garage and 10,000 SF lot was very appealing. I had just obtained my general contractor's license, so this property was used as a showcase for my building/remodeling talent.

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

It was a foreclosure and had fallen out of contract 3 times in 2011.

How did you finance this deal?

My parents provided short term financing (bridge funds). Once the remodel was done, I refinanced and paid them off with interest, points, etc.

How did you add value to the deal?

Expanding the home, remodeling the whole entire house and going crazy on the high end finishes (overbuilt rookie mistake)

What was the outcome?

We enjoyed living at the property. It was probably the nicest rental home in Santa Clara for 3 years. Considering the neighborhood was not the best (had a price ceiling which we broke), we learned that overbuilding a home can be fun while you live there, and also cap your ROI.

Lessons learned? Challenges?

DO NOT Overbuild for the neighborhood! There are certain factors (airplane noise, train tracks) that can't be overcome. In the end, we got one offer from one buyer. We were hoping to sell for $3M in the beginning of 2022, but ended up selling for $2.2M. A huge swing of expectations.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes we still work with most of the same contacts, unless they retired.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $430,000
Cash invested: $300,000
Sale price: $2,200,000

Single Family Home that was originally a foreclosure. I lived here with my family for 7 years before converting it to an unofficial 3plex and rented the whole building out for 3 years. When I was living there, the home was too big for 3 people (2 adults and 1 baby) so why not get some extra income? We had 3 master suites, so we used 2 of the master suites as little rental units and fully furnished them, included cleaning service and internet, TV, etc). I BRRR'd this property twice to buy 2 different apartment deals. I am in the process of 1031'ing these proceeds into an apartment building now.

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

Coming out of a 1400 SF condo, moving to a 3200 SF house with a 4 car garage and 10,000 SF lot was very appealing. I had just obtained my general contractor's license, so this property was used as a showcase for my building/remodeling talent.

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

It was a foreclosure and had fallen out of contract 3 times in 2011.

How did you finance this deal?

My parents provided short term financing (bridge funds). Once the remodel was done, I refinanced and paid them off with interest, points, etc.

How did you add value to the deal?

Expanding the home, remodeling the whole entire house and going crazy on the high end finishes (overbuilt rookie mistake)

What was the outcome?

We enjoyed living at the property. It was probably the nicest rental home in Santa Clara for 3 years. Considering the neighborhood was not the best (had a price ceiling which we broke), we learned that overbuilding a home can be fun while you live there, and also cap your ROI.

Lessons learned? Challenges?

DO NOT Overbuild for the neighborhood! There are certain factors (airplane noise, train tracks) that can't be overcome. In the end, we got one offer from one buyer. We were hoping to sell for $3M in the beginning of 2022, but ended up selling for $2.2M. A huge swing of expectations.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes we still work with most of the same contacts, unless they retired.

Investment Info:

Large multi-family (5+ units) fix & flip investment.

Purchase price: $5,750,000
Cash invested: $225,000
Sale price: $7,250,000

15 Unit complex, flipped in 12 months with 7 partners. Redid the facade and bumped the rents by 30% on average. Complex was purchased by a billionaire all cash, 7 day close.

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

After managing these types of garden style apt. properties for years, I always wanted to get on to the ownership side.

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

It was an off market deal that required no contingencies and a quick close.

How did you finance this deal?

Traditional boutique bank financing.

How did you add value to the deal?

Redid the facade, parking surface, remodeled interiors. Repainted the whole exterior. New Landscaping. New canopies.

What was the outcome?

It was a nice profit for the group.

Lessons learned? Challenges?

It's OK to buy a building that is up against a freeway wall. (the freeway sign is visible from the property driveway!) As long as the numbers make sense, there are buyers for the deal.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes and we still work with all of them today. RE investing is a long term marathon.

Contact me for OM/Flyer

1. Amazing Opportunity to Buy 4 Turnkey Units in Sunnyvale.

2. Established area with multiple new development and rehab projects

3. Sunnyvale (currently) does not have any Rent Control, while nearby Mountain View does.

4. 3.00% Cap Rate on Current / 3.55% Cap Rate on Pro Forma

5. 21.42 GRM on Current / 19.14 GRM on Pro Forma

6. Tremendous Opportunity with Huge Upside Potential

7. Great Opportunity for investment of Owner Occupied. Future Owner may choose to live at the property and occupy all/or a portion of the property.

8. Huge Corner Lot

9. Near Proposed Sunnyvale City Line Downtown Development.

10. Close to Google, Apple, Microsoft, Linkedin, Shops, Restaurants, Freeways, Public Transportation, Employers, Entertainment.

11. Mature landscaping in great neighborhood

Principals, email me if you are interested.  [email protected]

2 Duplexes on one large Lot.  No rent control on this property!  

Potential to add more units on the property.  Near Google San Jose Village.  Contact me if interested.

Principals only please.

5 Units in Santa Clara, CA.  

Former Victorian Home divided into 5 Units legally with paperwork.

Historical Property

Large Lot

Huge Potential

Price $1.86M

Contact me for more details.  Principals only please.

ditto on Daniel Paris.  Todd Rothbard also an excellent choice.

4 green houses = 1 red hotel?