The DealMachine Real Estate Investing Podcast 443: How He Leveraged ADUs to Build $700K Equity in ONE DEAL
Oct 29, 2025
Edmond Bondoc, a seasoned real estate investor with over 10 years' experience, shares his success story of leveraging Seattle's ADU laws to boost equity by $700,000 on a single property. He discusses the intricate financing strategies used, including a unique Homestyle renovation loan that funded two ADUs—one attached and one detached. Edmond also delves into condo-ization, explaining how it allows separate refinancing opportunities, and reveals his plans for long-term rental income while maximizing cash flow through strategic equity management.
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From Half-Finished Fixer To $700k Equity
- Edmond bought a half-finished fixer in Seattle for $700k and used a renovation loan to finish the house.
- He expects roughly $700k total equity after building two ADUs valued at about $750k each.
Seller's Contractor Work Failed Inspections
- The prior owner hired unreliable contractors and spent two years on work that failed city inspections.
- Edmond redid plumbing, wiring, and code issues before moving in to ensure safety and compliance.
Prep Bids And Plans For Renovation Loans
- Provide two to three contractor bids and architectural plans to qualify for renovation financing.
- Lenders will order an "as-is" appraisal and a second appraisal based on planned renovations.