All Forum Posts by: Gio Fuentes

Thank you Tony,

California.  I thought I was posting in Riverside CA forum.  I'm a newbie so my apologies. 

Hello All,

I am a new investor with 1 property and am looking for an experienced tax preparer.  I would appreciate your recommendations, who they are and why you recommend them. 

@Pavan Gupta

Good idea, I was speaking with a contractor buddy and he said it’s pretty simple to pull permits as the owner.

Have you started you project yet?

@Dan Heuschele

Thank you Dan. Have you used these plans? Have you built an ADU?

I would like to start this forum so we can all ask the burning questions and hopefully those who are experience can weigh in.

I’d like to kick this off with the following question. Can anyone recommend where I can get “off the shelf” architectural plans for ADUs? I’ve read in a few places that it would be significantly less to use off the shelf rather than paying for custom.

@Don Alder-LaRue

Message sent

Thank you

@Mishka Sidlin

Thank you.

@Sam Shueh

So Cal, a couple of hours from LA

Close to Palm Springs if you are familiar

@Tyler W.

Utilities are independent.

Plan to manage the property for a few years until market value increases and rent rates increase to where I am able to refi and cover PM.

I’m counting on a new roof but the AC units are about 5 years old and the property is not too old so I wouldn’t expect plumbing or electrical to be an issue in the near future.

Thanks!

I am a newbie looking for experienced investor’s opinion.

The deal:

4/2 Duplex in C neighborhood built in 1985

Current rents 975/unit

Market Rate: 1200-1300/unit

Price: 300k (-25% down = 225k financed)

Repairs/rehab: 15k

I’m expecting cash flow of about 500/mo

2400 rent

-1010 P&I

-300 taxes

-200 vacancies

-200 cap ex

-0 prop mgmt (self manage)

1710

2400-1710 = 690.00

What do you think? Did I miss anything?