All Forum Posts by: Brian Larson

@Dan H. is 100% right correct with his comments. I jumped fully into the ADU route but I have serious reservations about decision. I am anxiously awaiting my appraisal now but given the comments here, I seriously doubt that I will see a huge boost in value to our property.

Regardless, I am really banking on reducing cost of living to accumulate investment funds faster and do some OOS investing in the future.

Your situation makes sense to me.  I own where I live but I'm planning to buy a pure OOS investment property in 2021.  There are many other markets that make sense for people to invest.  It all depends on your personal goals.

@Twana Rasoul - Thanks for the tip.  That might work for me.  I'm zoned R-2 but it won't work for everyone.

You should talk to an attorney.  Hand down, the best folks to talk to are https://toddrothbardlaw.com/

Maybe Elon and others will rethink those moves given the recent power issues.  Just sayin'

@Anthony Angotti - Thank you sir.  This was the kind of info that I was looking for.

The cost to build an ADU almost never gets a good straight return from appraisers. Don't build it unless you plan to hold for 5-10 years and get those rents. :-)

@John A Murray - Sounds like they just made a mistake.  What did they say when you challenged them on the charge?

I know that my neighbor ran into issues in San Jose, CA. They city tried to double charge him fees because he was building an ADU above a garage. He is a licensed contractor so he called them on the error and they just corrected it.

My advice, cite the chapter and verse of the law to them and send them the URL.

I am looking to invest in Pittsburgh, PA in the next 6 months.  I have narrowed down my focus to a few neighborhoods but I was interested in getting feedback from locals or experienced investors.  Are these neighborhoods any good for investment -- Beechview, West (& East) Liberty, Brookline, Carrick, Bon Air, Overbrook, and Dormont?  If not, what neighborhoods do you recommend and why?

I am looking to purchase here because these areas seem to be close to the metro, in the pathway of future growth, and have average school ratings. I am looking to buy a SFH but could be convinced to get a duplex or triplex, depending on costs and returns.

Any advice from a local realtor and/or investor would be appreciated.  Thanks.

@Ben Magee - I agree with all your comments and thought that this would be a great new business model in California with the passage of new state law on January 1, 2020.

In reality, it has not panned out. I think it is very hard to make the numbers work from a pure investment standpoint. You are right.....sometimes it make more sense to take those same dollars to a traditional investment down the road. Rather than go through the time and effort to build and ADU. There are always exceptions but I have come to the realization that buying a property with an ADU versus building one is the way, way better option for most investors.

I am always on the lookout for ADUs, even if they are not permitted because in my limited experience, it is easier to fix what is there than build something brand new.