All Forum Posts by: Carlos Ptriawan

I'm Out of State Investor and just visited Huntsville hunting for rental. I saw 10-15 homes during my visit. The job market here is super good and the house is selling very fast, DOM is about 10-14 days. Most areas are B neighborhood. There's no real C neighborhood here. But personally I like the area around Harvest. 

Warning: be careful more on the price/sales comp.

With the invention of rental data collection from a company like Roofstock and also the availability of turnkey companies, I don't see OOS is as hard as before. Anyone can calculate the proforma immediately and even mitigating the risk for example by buying the property that has tenant or has no issue with structure or roof. They also have a book regarding a specific market. With the availability of data science and out-of-state PM, in the future, I believe the issue will be more like whether someone would like to invest in a concentrated market, or very diversified.

We just need someone that has successfully built JADU and share the floor plan. 

@Adam Smith: what typical HELOC rate that you use as downpayment for the house ?

We've drawing for 2BR/2BA + living space + kitchen + laundry for 700 sqft. Before Dec, I planned to build a studio ADU over 440sqft garage only but if we maximize the space actually we can go even beyond 800 sqft. Luckily in Jan, the city recommended 2BR/2BA. This is the way to go!

So if you want to expand the detached garage, the city is designated the construction as ADU+JADU. Basically there're only two possibilities:
(1) convert detached garage (as ADU)
(2) expand the garage (as JADU+ADU)

But if you go to route (2), then it has to be owner occupied. I'll face the same issue next month, lets see how it goes :)

It's actually strange that they formally allow 2BR/2BA in CA ADU, but the process to build 2BR is so complicated where it is almost doesn't make sense to build one.

Ever tried if you rent short term to travel nurse ? that may fill the gap.

I'm learning from other HNWI such as QP (5MM+), it seems the most HNW Investor would prefer private equity/investing at startup,diversified Income with Direct RE Placement sponsorship in Commercial syndication, followed by MF syndication.They also invest on non-RE syndication for diversification such as litigation or Merchant Cash advances. Some likes investing on Structured Notes. They also invest on NNN syndication. They seems avoid more active/semi-active management such as owning rental property. For accredited, investing in MF syndication with crowdfunding or debt-equity seems preferable. So basically if you have an investable asset of 5M you'll go to QP route offering. If you're accredited you go to what investment is available for Accredited Investor. And for non-accredited, actually, they're still a lot you can do ( many crowdfund/debt offering with 8-10% preferred is available for non-accredited Investor as well). If you like to become landlord then buy MF/SF.

I think the right question shall be: when you're on your specific financial condition, what Investment works best for you.

Hi @Thuy Twee Nguyen, which area /zip code you bought in Huntsville ? I'm interested in this area as well.

That's my original question as well. I've checked some ADU folks and nobody understands what that means and what's allowed and not allowed. So if it's a detached garage, expanding it will make it as a JADU ? I thought it will be designated as ADU.