Financing and Planning Additional Units (Young Investors)

[Hector Romero]

Hello all, I am new to the community as well as being the lead in real estate investments.

My sister and I currently hold 3 properties next to each other in Riverside County, California (we'd like to get them in an LLC but we're unsure how that may affect financing them). They are all on separate parcels, paid off and occupied by long term tenants. I would like to pull out equity from the homes to build either a house on each or an ADU (they are zoned multi-family) depending what makes the most sense on returns and what is feasible. I've seen many people suggest a cash out refi but I like the flexibility of the heloc. Is it best to approach an architect or a land developer for what I am proposing? Any advice on how to get the process started would be appreciated.

Additionally, I would like to attempt to do the process Owner/Builder with subcontracting work out as well as doing some of the work I'm comfortable with (I have some experience with bathroom & kitchen remodeling an am not new to the construction industry). Is there any issues with doing this on investment properties that people have had in the past?