All Forum Posts by: Mary Olynick

@Jonathan Schwartz great advice! Would you mind sending me your spreadsheet? I’ve been looking at census stuff but haven’t compiled it into a handy spreadsheet yet. Thanks!

@Shashank R. a bigger lot would help - my city's ADU laws have some requirements that make it tricky for ADU building, which are good to know pre-purchase. Look at setback from prop line and main house & max backyard % coverage requirements. Also, I'd look for ADU company that has right size prefab for your future lot & needs. It's way more $ & time-expensive to have a contractor custom build it, compared to prefab. (Maybe contractors are tied up with rebuilding fire areas?)

@Shashank R. I agree with all the above comments. I'm also in process of AirBnB'ing a carved out part of my home & also building an ADU. The expected income from both will cover my housing expenses. Not bad for Bay Area living.

I also don’t have to worry about rent increases or being evicted, etc. Rents here have increased recently at a crazy rate.

@Nahal Beckam I'd consider reconfiguring your rental house (dividing into duplex, adding floor/basement unit, and/or adding an ADU). The total income from these additional units could be enough to cover your total house expenses and more (if not now, then in near future). I'm currently working on this for my East Bay home, and the resulting cash flow numbers look awesome!

@Clark Michael. Congrats! I’m also looking at High Point when I’m in town in a couple of weeks. :)

@Colleen Prescott I’m also fro Bay Area & planning to figure this OOS sh*t out. I wont be stopped by one scary article. I’ll be scared on a deal-by-deal-anysis basis, but hopefulkt find at least one non-scary one Where’s my wine?!

@Constantia I’ve found in the Bay Area, it’s very typical for people to spend half of theIr income on housing. With high incomes, there’s plenty $ leftover after rent for other expenses. I’d be more interested in their total income, type of work they do, and stableness of type of work (although a string of briefly-cool startsups is kinda badass) What’s their story? I’d go back to the, otherwise qualified, but > 1/3 of Income applicants.

I am so excited about attending this event!

Mary

HI Matt,

I'm also new and living in this crazy Bay Area. Great to see others on here starting out!

Cheers!

Mary

@Terrelle Bynum welcome, fellow Bay Area attorney, to BP. I’m also a newbie looking to invest in my home state N.C.