8006 Naylor Ave, Los Angeles — major remodel, 2018

I had $1,000 in the bank when I bought my first house.

A major remodel: 1,400 square feet expanded to 1,732 with a master suite added. Purchase price $985,000. Below is every dollar of it — both loans, both rates, what they cost me at payoff, and what I actually walked away with. Real documents, nothing rounded.

Where the money came from $1,242,000 committed

Trilion Capital85% of purchase, 100% of rehab · 9.75%, 2 points

$967,000

Gap fundingprivate lender, via her self-directed 401k

$275,000

My own capital

Sold March 12, 2019 $1,440,000

Net proceeds after both payoffs and commissions $44,202.93

8006 Naylor Avenue after the remodel — white stucco house with dark trim, mature tree in the front yard — 8006 Naylor Ave after the remodel. Sold March 2019.

Send me the breakdown

The full breakdown, as a PDF. No course, no call, no pitch.

One email with the PDF. Unsubscribe whenever.

What's in it

01
The loan, exactly as quoted85% of purchase and 100% of rehab. 9.75% interest-only, 2 points, no junk fees, 12-month term with no prepayment penalty. The full email is in the PDF.
02
How I found the gap funderEight months at the same networking event before anyone lent me a dollar. She funded $275,000 out of a self-directed 401k.
03
What the money actually costEvery payoff line from the settlement statement, including the $785.69 late charge I'd rather not show you.
04
Why I walked with $44,202.93The remodel was quoted at $130,000 and came in around $250,000. Here is where it went and what I'd do differently.

Who this is for

Read this if

You have a job and no intention of quitting it yet
You've been waiting until you've saved enough
You want the real terms, not theory

Skip it if

You want passive income with no work
You want a list of markets to buy in
You already structure your own deals

Taylor Walker builds and remodels housing in Los Angeles. He's developed more than $30 million in real estate using none of his own money, and writes about how the deals were actually financed.