All Forum Posts by: Nicholas J Mineo

Hello, I own a duplex with two separate addresses. I intend to live in the top unit and list the lower one-bedroom unit, which has it's own address and entrance on Airbnb. However, I'm receiving pushback from the Revenue Division regarding the issuance of a short-term rental permit. They are stating that because the address I want to list on Airbnb is not my primary residence, I only qualify for a non-primary residence STR permit, which restricts rentals to a maximum of 90 days per calendar year.

Has anyone else encountered this issue before?

Thank you. 

Hi Travis! Thanks for the reply. The main reason at the moment is due to lack of liquid funds to get that converted. I reached out to an ADU company in the Sac area last year and was quoted north of $150k to convert a garage with was barely over 300 square feet. Crazy!

 Good to know! I own a duplex in Alameda County as well... most definitely not a landlord friendly county. I'll look into Boise. Thanks! 

 I've heard great things about Columbus. Thanks for the info and linking those articles! 

Hi Becca, thank you for your reply! I'll take a look at your post. My interest rate is 4.99% on the duplex and I have about 15% equity in the property. 

The property will be vacant soon, and I could potentially raise the rents a little bit. To be honest, I just don't love being a self-managed landlord, and if I hired a property management company, that would make me even more negative cash-flow. All-in, I am about $600 negative monthly cash-flow, and the principal balance paydown portion of the mortgage is about $750 per month. 

To get this property to cash-flow, I would need to convert the garage into a studio and then I could rent that out for $1,000-$1,200. I would be around $150,000 to get that done last time I checked!

I'm originally from Buffalo, NY, and all my family is out there. That would be an interesting market to start off in for a BRRR property since I'll have eyes out there and have a decent grasp on the market in that area.

Hello BiggerPockets Community! I'm considering selling my duplex in Sacramento to liquidate some capital. I'm looking to shift my focus from the long game of rental appreciation to the BRRR method. Currently, this duplex isn't cash-flowing as I bought it as a primary home with less than 25% down. The long-term plan was to convert the garage to an ADU for future cash flow.

I'm seeking advice from fellow investors.

-Which markets would you recommend for the BRRR strategy with $100k to work with?

-Any tips for identifying promising BRRR strategies?

Ideally, I would start in Sacramento since I have built some contractor relationships. However, I would definitely need hard money in order to make that work. You won't be able to buy fixers out here all cash for $100k!

Thank you in advance!