First home purchase

[Jean Pierre Jabo]

Hi Fellow investors,

Me and my wife are under contract for our first property listed as a SHF with 4 BDs 2 BATH, 5 minutes from garden of the gods driving. The property also has its own ADU on the side that's completely detached from the main house. Has its own kitchen, bath, laundry hookups, little yard and living room space.

We Plan on living in the main unit for over 5 years atleast. Is this a good investment? House was 570k and that ADU projected rent is atleast $1700 a month. We are only putting 5% down with conventional.

And what are some ways we can continue to build our portfolio in RE?

Looking forward to your honest replies

[Wesley I.]

@Jean Pierre Jabo

How much would you pay in rent for a similar 4bd/2bath in your area?

Goal is to reduce your biggest expense (housing) with income coming from the ADU to save money for your next RE purchase.

And is the projected $1700 income from the ADU comps for a long term lease? Its possible you can get more with MTR/STR.