All Forum Posts by: Alex Ballesteros

I just purchased my first property (SFR) back in November 22' and I am soon to be starting the construction process of an ADU garage conversion in the back, and i was wondering if I can live in the ADU once it's built and apply to be a Section 8 landlord so i can have a Section 8 tenant live in the main house?

Also, would the ADU have to be legally permitted? Would it be possible to have it non-permitted?

I am thinking of potentially investing in Joshua Tree, CA and i know there is a ton of competition with beautiful homes, so i would also like to be competitive the design of my home.

I am looking for some advice on where i would be able to find an interior designer that specializes in STR vacation homes. I have done a google search and found a few companies there but i thought i would ask here to get more opinions.

If you have personal experience in using an interior designer, how much did it cost for their service and what services was included with that cost?

What operating expenses are calculated on  AirDNA ? Does it also include a forecasted mortgage payment or not?

I am highly considering joining the STR BP Bootcamp since i would like to expand my knowledge within the field, but i haven't taken a BP bootcamp class yet, so i would love to hear your opinions and first hand reviews.

Feel free to share your experiences and reviews.

thanks Jason. So you would say to go with an attorney instead of an accountant ? We're wondering which one out the the 2 it would be better to start up the LLC with.

I recently purchased my first property in Compton, CA back in November... 2 bd 1 bath, 4,400 S.F lot with a 2 car detached garage (approx. 480 S.F). The property is a "fixer-upper" and in order to maximize rents it will need about $60K in renovations, and I am also considering converting the garage into an ADU. I will be self-managing the project (not using a GC), therefore, the total cost of construction + adding finishes, etc will run me anywhere from $80 - 100K & I would be financing the ADU with cash. On the other hand instead of doing the ADU, i am wondering if I would be able to find a deal and do a STR with the same budget, and how that would kind of play out in return to the ADU.

Let me know what you guys think on this... pros, cons? Why you would choose one option over the other ?

So I initially purchased my first investment property by myself (under my name / no co-owner/ borrower) back in November 2022 with an FHA Loan and very recently (within this last month) my brother & I have decided to partner up on this deal and on future deals moving forward, and we want to go 50/50 on this deal. FYI the title deed, loan & everything else is under my name currently, so im looking for some direction on how to best structure our partnership. Should we start up an LLC (thru an accountant or attorney) and transfer the property into the LLC? Or how would be the best way to achieve our goal to go 50/ 50 on this deal and future deals?

Is it better to use an attorney than an accountant (or vise versa)? 

Any information or personal experiences will help! Thanks in advance.

I was recommended someone from my general contractor to provide ADU drawings/ plans in order to get the process started, and this person who was recommended is not licensed but works within the field as an apprentice and does freelance work on the side creating ADU drawings/ plans, so i wanted to ask anyone with personal experience or knowledge if the person creating the ADU drawings needs a license? Any cons or downside to this? And any additional info or insight on this topic would be greatly appreciated.

Anyone have a good architect that specializes in ADU's or can assist with providing me a bid in an ADU site map? So my general contractor can provide me an estimate on how much it will be to build my ADU.

Looking in the Los Angeles area. If you can share your experience with the architect and how it was dealing with them? And if you want to share the pricing for the project they assisted you with, it would be helpful.