All Forum Posts by: Jerome Morelos

I would look for a home with an existing ADU like you mentioned. I also would look into the MTR strategy. ADU's are perfect for traveling professionals. So look for one within 5-10 miles of a level 1 or level 2 trauma hospital. After a year, you can move out the ADU and rent it as a MTR to supercharge your cash flow. This is what I'm currently doing and I also live in an expensive market (SoCal)

Definitely go for it. As someone mentioned above, have a long-term outlook. Overtime, your net worth will increase from natural market appreciation, principal paydown, and yearly rent increases. On top of that, you'll be gaining experience as a landlord.

Time in the market > Timing the market

For me it was: "Set for Life", "How to invest in Real Estate", " The Book on Rental Property Investing", "Househack Strategy", "The book on Managing Rental Properties". 

Not in that order but these books really helped me out. Again, it depends on the strategy you're pursuing. 

Hello Maria, I would continue to invest in your Real Estate education by reading books, listening to podcasts, ect. Also, establish a solid "personal finance" foundation is key. I highly recommend reading "Set for Life" by Scott Trench. 

Inland Empire area 

You don't find good deals, you MAKE good deals. My advice is to find a property where you could convert areas into useable space such as a garages, large bedrooms, ect. Or better yet, if you could find one with an existing ADU or guest house.

Hey Kyle, nice to meet you. I'm a newer investor myself and bought my first deal in Feb 2022. It was a cosmetic fixer upper that I rehabbed, lived-in for a year, and now rented out to long terms tenants. I was able to extract the equity I created from the rehab and used a Home Equity Loan to convert the detached garage into an ADU. The ADU is now a MTR. I am cash flowing close to $2,000/month net. The property also has over 200k in equity. I forgot to mention that this property is in California. My advice will be more about the Mental aspect, which I think is the most important.

Don't get caught up in the "what-ifs". The more we focus on our fears, the more it magnifies. Fear feeds off attention, so you need to starve it of it's "food" by shifting your focus on the positives. You have to be able to adapt to situations and circumstances that WILL happen during your journey.  

Good luck!

Education x Action + Results.

Hello, can anyone give me recommendations for a good cleaner and handyman in the Redlands/Loma Linda area?

Thank you!

@Conner Olsen I do have a video walkthrough but did not think of utilizing QR code to show it in my listings. I will look into this! Thank you.