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Updated over 2 years ago,
ADU and Renting out rooms
Hi BP family, Please knock some sense on me if I am too ambitious about this plan. I am seeking your expert opinion regarding renting out ADUs and rooms in your SFH property.
About myself, I am new to real estate investing and starting to get my feet wet. I just recently acquired my first SFH 5 bed 4 bath mortgage is around $4900 that I plan of renting the 2-3 rooms out,(currently 1 room renting out for $1000)
I plan to convert my enclosed patio that has already have a sink and fridge for the tenants to share and just plan to add a conduction stove or just an oven in it just because I don't want to share our main kitchen and living.
I also have an upcoming above garage ADU project which is about 800 sq. ft. 3 bed 2 bath/2bed 2 bath that I'm getting quote between $200-$500 per sq. ft. the reason why I chose above garage is that I wanted the ADU to look just like a house expansion that can easily be connected to the main house if I decided to get rid of the ADU in the future for selling purposes(future proofing)
I would love to hear some pros and cons about renting out a room and ADU in LA County and how do you guys manage the utilities if you include it in the rent?
Thank you!