All Forum Posts by: Monique Samuel
Monique Samuel has started 2 posts and replied 9 times.
Quote from @Alex Nahle:
Hi Doug, I know I'm probably too late, but thought I'd try. I'm interested if still available.
Thank you,
I am selling my ticket if you are interested.
Quote from @Alex Nahle:
Hi Doug, I know I'm probably too late, but thought I'd try. I'm interested if still available.
Thank you,
I am selling my ticket if you are interested.
Quote from @Alex Nahle:
Hi Doug, I know I'm probably too late, but thought I'd try. I'm interested if still available.
Thank you,
I am selling my ticket if you are interested.
Post: Making a triplex out of a single family house
- Posts 10
- Votes 1
How can one find the comps with existing ADUs in the area?
Quote from @Sara Levy-Lambert:
To do the enemy method without missing properties and seasonality google awning airbnb estimator, you can put an address in and take a look at nearby comps including their pricing and occupancy in different seasons. It will also allow you to pull up their Airbnb listing so that you can see what they are doing right and wrong.
Post: Funding for my first investment property
- Posts 10
- Votes 1
Thank you everyone for your response.
Post: Funding for my first investment property
- Posts 10
- Votes 1
I am looking to purchase my first investment property. I do a few shifts at a hospital 1.5 hour away from where I currently live. I plan to purchase this property near the hospital so can stay at the property only on the days I work (which is 10 days per month). The days I am not staying at the property, I plan to STR. Currently, I don't have a mortgage or own a primary residence. I don't want to move to the area where I work because of personal reasons. Is it wise to use a second home/vacation home loan or an investment property loan to purchase this property?
Quote from @Devin James:
Hey Monique Samuel,
I would ask, what are your end goals and which option would get you there the most efficient way?
Some thoughts:
- An ADU would add significant value to your property, but an RV wouldn't.
- The RV will depreciate over time, unlike an ADU.
- I assume that there would be more repairs/headaches associated with the RV.
- Smaller tenant pool.
Good Luck!
Well, I was looking for something cost effective (to set up) at this time and one I can get a STR/MTR business started sooner. With the permits and inspections by the city to get the ADU completed, I assume it will take 3-4 months. With an RV, maybe 1 month. Besides 2-3 years from now, I plan to LTR the main house. If an ADU is on site, I will have to tightly lock up the ADU and closely monitor so the tenants do not sublet it. However with a RV, I can just get rid of it.
As for the depreciation on the RV, that I don't care about because my thought was to buy an old RV and fix it up.
I am in the market for a primary residence that I can house hack. I am looking for a single-family home with an ADU already built or a home with enough space in the backyard to build an ADU. My plan is to either short-term or mid-term rent the ADU. As I was analyzing the cost and time to build an ADU in my area, I thought wouldn't it be quicker and cheaper to just buy a used RV, park it in my background (if the neighborhood allows it), get a contractor to install an RV hook up, and then rent it out. What do you think? Is this a cheaper option? Are people willing to stay in an RV parked in someone's backyard for days or months?