All Forum Posts by: Harry Zhang

Hi everyone!

I'm just starting to get into RE investing, I was wondering if property taxes play a big part in where people choose to invest.

For example investing in Texas probably has a 3x increase in property tax rate compared to Oklahoma. After the mortgage is paid off, wouldn't you be paying 3x the property tax which eats into the net income? So in my head, I would assume that for the same price, Oklahoma would be a better choice!

However it seems people don't talk about this part?

Hi Dan!

Wow your thoughts make a lot of sense, thank you for sharing this. It really helps to clarify in my mind, I had some of the similar doubts but hearing it from someone more experienced solidifies my apprehensions. 

I think I'll hang off from building an ADU and maybe an alternative is to just purchase more property in the future then!

Thanks!

Hi everyone!

I'm (26M) super new to real estate investing and this is my first post ever so thank you for any help! Because I value your time I wanna keep it concise

1. I bought an 3/2 SFH in Sunnyvale in 2022 on about 6400sqft lot

2. The home is about 1300sqft

3. I am a software engineer making about 250k+ a year

4. I have about 150k in stocks which are liquid 

5. I currently rent out one of the rooms in my house for $1100/month, I use the other two rooms

6. I have been thinking about adding an ADU, probably a 2/1 or a 2/2!

7. Doing research online, it seems the price of an ADU might be around 350k

8. I'm pretty handy, I demolished the kitchen myself, put down flooring, and electrical wiring and all that. 

Questions

1. Is building an ADU a good idea right now, or ever in this area? At the cost of 350k, it's quite a lot and I would have to borrow about 200k. How should I think about this?

2. Could I hire someone to do the foundation, utility connections and framing, then do the rest myself to save money? Is that a good idea?

3. Are there any alternative investments you would recommend me? I also have a 300sqft detached garage which I keep all my tools in, potentially could convert that. (but where would I put all my tools?)

Thanks everyone! Excited to be a part of this community