All Forum Posts by: Ahsan Faheem

Hello all! I’m a Bigger Pockets junkie and aspiring investor. I’m 26 years old, working as a solar sales rep on a full commission 1099 pay structure (no hourly/no W2). Income varies month to month from 8-10k per month on a bad month, and have been paid up to 34k on my best month. To make it easy let’s say 250k per year income. No kids so my expenses are low, I am currently saving 75%+ of my income. I know for sure I want to put my cash into real estate, since the tax benefits will be huge for me based on my income and the fact that im not on a W2 salary. 

I live in Los Angeles, where homes are outrageously expensive. My question is whether it’s even worth it to look for investments writhing driving distance (250 miles or so) or if I just need to look out of state. I don’t need immediate cash flow especially if there’s a lot of upside for appreciation or raising rent in the future, but I also don’t want a property that I am losing 500/month on. 

any advice or pointers much appreciated! I am committed to purchasing a property in the next 12 months, hopefully much sooner

Purchase it in your individual capacity then quit claim it to your LLC. Should be relatively smooth given its a cash deal. Will obviously cost a little more in attorney's fees and recording fees, but can be done pretty seamlessly.

Very hard to tell from your photo, but assuming that is not the drop to your property but one of LADWP's supply lines (there would be an utility easement on your property) then yes it may be impossible to have a 2 story ADU as there are clearance issues, both lateral and height wise. If that line is suppling your property than I would assume you would have to have to move the main service panel on to the ADU.