All Forum Posts by: Magdaleno Garcia

I’ve been hearing a lot about whole life insurance and how you can use it as your own personal bank to finance real estate deals. Can anyone expand on this and does anyone recommend a good whole life agent to work with on this? Thank you 

Thank you David, I'll reach out to her. I take it you've used her services? 

I see you're a contractor as well as a real estate agent, are you still active on the building side? 

Hello BP family, I'm looking for a financial advisor/tax advisor/accountant in the San Diego area. I'm just starting out investing in RE but I want to make sure I'm doing all I need to do properly and legally. I only have 1 rental and it's a JRADU so not sure what I really need. I am planning on purchasing another property this year but not sure exactly when. Any help, advise or recommendation would be greatly appreciated. 

Justin R. again, thank you for the information and explanation, that gives me more to go on. I'm just in the planning stages with this project and I need to lay some concrete on my from yard and wasn't sure if I should wait on the concrete in case I needed an extra gas line but that helps a lot. I can move forward with the concrete without having to cut into it later. I appreciate you. 

Justine R. wow, lots of good info, I really appreciate your knowledge and willingness to share. 

I was thinking if my current gas meter would be enough to feed all three units or would I need to add an extra meter to have good gas pressure. The current gas meter is original to our house. The house was built in 1950's and it was a SFR.

@ Pavan Sandhu, I just sent you a message.

All electric huh? I've never considered that. Are you talking about solar?

Hello BP family, 

I've finally finished my granny flat here in San Diego, Ca. and have a tenant in it at this time. 

I'm now planning on adding a couple of bedrooms and a couple of bathrooms to my primary home and adding a second ADU, my question is how do I know if I need a second gas meter to supply gas to that other ADU or can I just get a gas meter with a larger capacity for all three units/homes? This will be my second ADU but my first build from scratch so I'm new to this whole investing and building process.

Any advise or direction will be a huge help and greatly appreciated. 

Thank you.

Thanks Twana Rasoul for that clarificatioin. I thought ADU's and JRADU's were treated the same and they are if you have one or the other but if you have both then the property does have to be owner occupied. Good to know, that's going to cause me to rethink my strategy but like you said, those rules may change. As an investor I hope they do.

Thank you too Dan Heuschele for catching that on my comment. 

Hello Brian, I'm here in San Diego and I actually work for military housing. I'm about finished with a JRADU conversion that I'm working on within my owner occupied home. I was told that ADUs and JRADUs cannot be used for short term rentals and I found that this is true but short term rentals is defined by the City of San Diego as renting for less than 30 consecutive days. I'm looking into renting to traveling professionals and most of the folks on that website are looking to rent for 30 days or more up to 6 months and longer in some instances. The units do have to be furnished so in most respects they are like AirBnB but for professionals that are taking short contracts for work. The website is Furnished Finder. I think it's a good choice especially with folks not traveling as much right now and some folks not paying rent. This helps with both of those issues. 

If you have any questions don't hesitate to reach out. This is my first build and I'm also just starting in real estate investing and I have learned quite a bit going through this process. Hope that info helps.