All Forum Posts by: Mack Bailey

What kind of ADU is legal for an owner occupant while renting out other units?

@Larry T. Agreed. Thanks for walking me through that

@Russell Brazil What constitutes a legal ADU for an owner occupant? I'm inquiring because i live extremely simply and cannot justify the cost of even a small house or normal sized apartment. This is purely for my own use so I am asking for legal advice not if its moral to rent out a dingy space to a family.

@Theodore Arzt do you have any tips on finding an agent that would be willing to assist a newbie investor?  It seems we are in the same town so maybe you could get more specific than possibly other investors could.

@Larry Turowski Is there a reason in this scenario you couldn't simply rent out the property to cover costs? The rent-to-own option seems far too complex, involving 3 parties to depend on each other with seemingly a lot of liabilities (namely that the bank could call the loan). Though if you happen to be an experienced investor with access to a pool of cash to say, pay off the loan, this could be a viable option.

@Marcus Auerbach Going to start looking now!

@Marcus Auerbach that's great. Exactly what I was thinking on the agent aspect. I dont want to become dependent on somebody else to find me deals. Very helpful

@Mark Docter I'm also new in the game and saw that you said doing some work yourself. I just wanted to remind you to find what your time is worth it may be smarter to pay a GC etc.

@Russell Brazil would it be illegal if the owner/investor occupied the basement rental?

How would you recommend I go about researching a target area without MLS access? Should I use Zillow or similar apps to get a broad sense of local markets. Of course these arent viable sources of data for making offers.