The Canoga Park ADU Project
The original Canoga Park home was a 3-bedroom, 2-bathroom, 1431-square-foot single family residence situated on a 9,759-square-foot R1 lot. Initially listed at $550,000, it was acquired for $575,000 by Bill “The King of ADUs” Hankins, a managing member of ADU Flip Network LLC, for more than $50,000 above its as-is condition due to its outdated condition.
ADU Flip Plan
Originally intended as a Fix N Rent project for “The King of ADUs” family’s rental portfolio, the Canoga Park ADU Project pivoted to a Fix N Flip project turning a $435,000 net flip profit! The $1,550,000 purchase offer was too lucrative to decline. Capitalizing on the 71-foot-wide lot, “The King of ADUs” devised plans for a 59-foot-wide by 22-foot-deep, 1200-square-foot, 3-bedroom, 3-bathroom detached ADU in the rear of the property. In the front house a 310-square-foot master bedroom and bathroom was added, while the attached garage was converted into a fully permitted Jr ADU featuring a bedroom enclave, full kitchen, full bathroom, and laundry facilities. Upon completing the project the front house was rented for $5000 per month, the detached ADU was rented for $4000 per month and the garage converted Jr ADU Studio was rented for $1800 per month until the property was sold.
ADU Flip Net Profit: 435,000!
Canoga Park ADU Project Before Purchase Price $575,000
Canoga Park ADU Project After Sold Price $1,550,000
ADU Flip Network LLC: Your One-Stop Shop for ADU Projects
ADU Flip Network LLC stands out as the most innovative real estate investment network ever created for small to mid-size real estate investors aiming to generate substantial profits by flipping houses or creating immediate positive cash flow from rental properties for their personal portfolios in California’s ultra-competitive real estate market. We utilize our 20-plus years of verified experience in adding additional units to single-family homes and our extensive knowledge of California ADU laws to increase both property values and the rental income of each acquired property. Our network serves as an aggregator and service provider for our members, offering every service required to successfully complete the ADU investment and development project. More importantly, we provide our qualified members with profitable deals.
- Full-Service Aggregator: ADU Flip Network LLC is a comprehensive service provider specializing in property acquisitions, ADU designs, permit expediting, project financing, and ADU construction. We use our proprietary system to identify both off-market and on-market opportunities ideal for adding multiple ADUs to lots with an existing single-family home. This maximizes lot coverage and livable square footage, ensuring six-figure flipping profits or immediate positive rental income. Many of these deals are passed on to our qualified network members, for whom we act as a service provider.
- ADU Design Catalog: Our catalog features over 500 previously approved ADU plans, offering network members a wide selection of designs to optimize their lot’s coverage. This aligns well with the upcoming statewide rules (Assembly Bill 1332 Carrillo), taking effect in January 2024, which will streamline the approval process for ADU plans, saving time, reducing design costs, and mandating that ADU permits be issued within 30 days when using previously approved plans.
- Permit Expediting: With more than 30 years of experience, we navigate the bureaucracy of the Department of Building and Safety, expediting the permit process from the initial concept to project completion.
- ADU Project Financing: We arrange financing for acquisitions, sales, and rentals for our network members. We have established relationships with banks, hedge funds, family offices, and private investors ready to fund various real estate deals, including ADU construction, fix-and-flip loans, construction loans, and DSCR loans.
- Licensed ADU Construction Teams: Experience the advantage of our Hybrid Production Sub-Contractor Construction Method, which has been applied in over 500 ADU projects over the past 20 years. This method guarantees rapid completion, consistent quality, and expertise in every build.
Profitable Fix N Flip and Fix N Rent Deals
ADU Flip Network LLC ensures its members access to profitable fix-and-flip deals that result in a minimum six-figure flip profit and fix-and-rent deals with immediate positive cash flow, boasting a minimum 6.5% cap rate (assuming 30% expenses). Our consistent project profitability positions us as the premier choice for investors seeking six figure short-term profits or long-term positive rental cash flow.
Innovative Real Estate Investment Strategies
Starting in January 2024, property owners will be able to sell ADUs separately from the existing house (Assembly Bill 1033 “Ting’s condo law”), introducing a new level of flexibility and profitability. Many California property owners may not understand that creating condos is a 9-14 month task. However, ADU Flip Network LLC will equip our network members with a strategy to enable them to sell the existing house and ADU structure’s on their lot separately in as little as 30 days. The required documents can be prepared and recorded during the remodeling and construction process. This aspect of the California ADU law guarantees to change the landscape for investors of single family homes.
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