All Forum Posts by: Brian Felser

#1.

I have a property in Modesto, CA.

2/1 getting 1,500 mo. Property has a detached ADU. studio getting $795.

I haven't raised rent in ADU in 4 years since move in.

Main 2/1 home has potential to Reno to 3/2 within footprint.

Haven't raised rent since move in ( 2 years)

I'm going to give both units 30 day notice to raise rent 10% tomorrow by hand.

#2

Is it legal to have main house renter pay for gas & electric of studio if it is on original month to month rental agreement? ( If utilities get very high due to studio use I have asked studio apartment to chip in to help w/ front house a couple times)

I have a rental in California w/ a 2/1 & an ADU on same property.

Getting $ 1500mo. For front house & $795 for ADU. Original loan is owner finance210k bal. @5.25% got a Heloc for 65k to add 1bd. & 1ba. To front house & kitchenette to ADU. Pmt. On heloc is $300 Original mort.$1,745.00.

Need to retire soon. Need cashflow & down for moving to Tennessee househack.

Home value 370k- 430k more if I add the bd. & ba. In front. House. ( same footprint)

I used 45k of heloc for debt consolidation and phase1 of electric rough in.

Should I refi as investment property ( been claiming only the $795 & $600 of front rental paid monthly in cash.)

To complete projects

Or just sell now as is. About worrying about permits etc.

And tax issues.

Thanks

Have options just don't want IRS red flags And insurance issues while rehab going on w/ tennants there as well.

I'm under rental mkt. Now. Haven't raised rent in ADU in 4 yrs.