All Forum Posts by: Marcus Tam

@Chris Collins I checked with the city snd they said STR for adu in my area unfortunately

@Chris Collins thanks Chris. I will be residing in the main house and Airbnb out the adu.

Does anyone have any experience airbnb-ing a newly developed ADU in an uncorporated part of LA County? I am aware that ADUs permitted after 2017 can't technically be used for short-term rentals but is there a way around it? or does the city not actually care enough to inspect someone like me?

I am looking to house hack a deal on the left side of the 405, close to W 120th Street and Aviation. 

Does anyone have insights on the neighborhood? Is it a good area to invest in?

I've been shopping around for househack deals in LA for a couple months and deals with value-add components are tough to find and even harder to win. In an ideal world, i'd like to find a property where i can force apprecation (like buying a SFR and adding an ADU or buying a duplex that needs cosmetic upgrades) so that I can do a cash out refiannce to help fund the next deal.

If i went with a move-in ready duplex, I would essentially live for free (after considering principal and tax write-offs) which is nice but not sure how i would leverage this property for the next deal. i plan on holding the property for the long run. 

Should i settle for move-in ready? how else could i leverage the property for the next deal (beyond just waiting for appreciation)?

thanks in advance for the advice

Thanks for the insight Denis. I think being hands on with property management for my first investment would be a good learning experience so i dont think i mind it, for now. 

I probably would buy out of state after buying my own residence in LA. As you mentioned, scaling in LA is going to be tough without considerable capital and i tink even at the $250k range ,im gonna struggle to find positive cash flow if i dont live in one of the units 

let us know details when available pls! 

@Jon Schwartz

Thanks! Just emailed you

Hello,

I live in LA and I managed to save up about $230k-250k in my real estate investment account. Is buying a duplex (or triplex if i can find/afford one) with the intention of living in one unit and renting out the other (i imagine both units would rent for a total of $6k) better than if i were to buy a rental property out of state? My concern with buying in la is that the property won't cashflow (cost > rent) but should i even be concerned with that if i plan to live in one of those units? I pay $3400 for rent now and that would be abuot half of the costs but i dont think anyone would rent those units for $3400.  I would also prefer to buy and hold versus living in it for two years and then selling it without capital gains tax, i think.  

Should i go out of state and find something in like OK for $100k purchase price?

@Matthew Duch 

yeah i agree MF house hack is the way to go. Let me know if you find a duplex for under $1.5m in LA haha