All Forum Posts by: Sai Santosh

Thanks for the response.

There are very few properties who converted garage into a rental unit in the area. And main house is mostly occupied by owners.

Potential tenants would be families, as there are top rated schools in the area.

There is ample street parking and driveway can easily fit 2 cars. I am planning to provide a storage shed in the side yard for storage.

This is a LTR.

For the utilities, I will have everything metered separately.

Exit plan, since I will have the proper permits to convert, am assuming it would increase the property value. Hoping to force appreciate and sell for equity. 

Can you help me understand in what cases this won't work out?

Seeking advice from those experienced in property conversion! I have a 4-bed, 2-bath Single Family Home with an attached garage in a class A neighborhood. My plan is to convert the garage into a separate studio unit (with proper permits) and rent both units independently.

I'm reaching out to individuals who have undertaken similar projects for insights and potential pitfalls to be aware of. One concern I have is the possible decrease in rental value for the main house and the risk of losing quality tenants. Personally, I might hesitate to rent a house with another tenant on the property – is this a common sentiment?

Before investing any funds into the conversion project, I'd like to understand the market dynamics. Your feedback and experiences would be greatly appreciated!

Hi, I'm an out-of-state investor based in California. I've found a few turnkey properties in Weaver, Alabama, and I'm wondering if you have any insights on the town. I prefer to invest in Class A neighborhoods, so is Weaver a good place to live?

From my research, it seems like there's decent rental demand, probably due to the proximity of Jacksonville State University. Any help would be appreciated.

Would to connect with investors in Alabama!!

No, I have 2 properties. They haven't even asked for that, just said they no longer offering HELOC on investment properties.

Just FYI, I called PenFed today. They are not doing HELOC on investment properties anymore

Hi,

Me and my wife have six figure W2 jobs each. We closed couple of deals in LA in Jan'22. They are in 10/10 school district and currently rented out. Producing little cash flow, not very significant. But they already appreciated by 20k each.

We have used every possible penny to purchase these properties (HELOC, stocks etc). Now my question is how do we scale faster? We have no money left to put down on another property.

Can you provide some assistance on any creative ways to purchase another investment property without 25% down? Apart from partnership, are there any other options? I know seller refinance is one, but there aren't many properties out there.