All Forum Posts by: Ali Nichols

Best of luck @Benjamin Sulka!

I'm not in CA, but I could have sworn recently FHA loans will now allow you to count your ADU income during your loan app in CA.

https://www.realestatenews.com/2023/10/17/rental-income-from...

My general take is jump on an opportunity when you can. One question that will also help - if you were to look ahead to 2025 or 2026 can you rent this subject SFH property for at or above what you would be paying in PITI? as in will it make a nice little addition to your portfolio if/when you move on to the next home/MFH?

India, welcome to BP. Well done on finding a focus to start with. There are so many ways to get distracted by shiny object syndrome but focusing on what is that next step in the journey with actionable ways to get there is what it is all about. 

Hey @Justin Mason welcome to BP. Congratulations on acquiring your first SFH recently. I think you are not only located but also focused on some great areas for your investment strategy of multi-family homes.

BP is an awesome place to connect and soak in a bunch of knowledge. I'm primarily focused on small multi-family and coinvesting across the midwest. Happy to connect!

Scaling up a portfolio of small multi-family properties. Something we would be happy to connect over.

Depending on the level of work needed, I am usually estimating between $25 - 40 ppsf. 

Upright.us has some nice tools to help in statement of work estimations.

@Jake Paulson a few that come to mind are doorvest, arrived homes, realty mogul, fundrise. 

If I were to move to a new city and specifically Austin in this case, here is what I would consider: 

1. Long term upside --> given the correction, stagnating rents, rising property taxes, etc. the chance for cash flow on SFH after leaving will take some time or a refinance down the road. So if you decide to buy/house hack make sure there are fundamental reasons why you chose that area.

2. Getting comfortable with the city. Plenty of different pockets in Austin and renting for ~6 months can be nice to get a feel for the city and teh areas you like most. 

3. If you can find a small multi-family to house hack that is ideal. 

4. if you have to stretch to buy a home where the payments are 2x to own vs rent I would consider the decision carefully.

Welcome to BP!