All Forum Posts by: Tyler Hungerford

We're gonna set you up @NAZMUL HUDA!! Don't you worry! I specialize in deals like this. and will help you figure out a way to use this money and maximize your investment. Can't wait to see what we do to get this going for you! I'm excited haha

@Nathan Walden hey Nathan, I've worked with several people to help them figure out strategies to get them into cash flowing properties in the Inland Empire. I specialize in this area. We should chat when you have a moment.

@Enrique Elizondo hey man! I work with a lot of investors in the area and would love to see how I could help you achieve your real estate goals.

I did mine through firsttuesday.us! Everything they do is online and it makes it really easy to get through the course work. I would check them out. 

Hi @John Blackrock, thank you for posting this man! I know it's not easy to be in a situation like this. I'm afraid I'm going to be in a similar situation with my parents once they decide to retire within the next 10 years. 

With regards to finding something that would be workable for you and them, have you thought about finding a property with a detached garage, putting in an accessory dwelling unit (ADU), and then renting out the front house to your parents, and the back house to another person? I know people usually don't want to give up their own space like this, but I think it would help make this more of a sustainable investment for you if you went along that route. And I would suggest looking at using a mortgage lender that can help provide you with useful advice and planning to make sure that this investment fits your strategy. You might not need to put 25% down on the home, it actually might make sense to come at it completely differently. But you won't know until you have the chance to really work with someone that can help provide useful advice and strategy.

I've done ADU's a few times with clients of mine and they love it! I am in escrow with one of my buyers in Redlands,CA right now and we are purchasing a fixer with a detached garage. The plan is to fix up the front unit with minimal changes, ie flooring, paint, and touch ups, and then build out the garage. He'll be able to get $2,000-2,200/month on the front unit and once he moves out of the garage unit, he'll be able to rent that out for $1,100-1,400/month. That is a pretty solid investment.

If you think your parents would be cool with having another person living in the detached garage (after they're vetted by a professional property management company, etc), then I think you should look at that route. That way you don't have to over charge your parents for rent on the house, and you won't have to come out of pocket nearly as much on the mortgage either, in fact, you might make some money each month. 

If this is something you want to look into further, let's connect on here and we can start chatting about how to make this idea into a reality! Cheers! 

@James Gates We start at 9 am and run till about noon

@Adekunle Ilori looking forward to see you there! We start at 9 am and run till about noon

@Stephen D. looking forward to see you there! We start at 9 am and run till about noon

@Daniel Travis looking forward to see you there! We start at 9 am and run till about noon

Hi @Jennifer Smith I am definitely dedicated to this business! The cost of converting a garage is typically around $20-30k. I always recommend getting permits on the work that's going to get done on the property when dealing with an ADU.

It might make sense to have you purchase a standard SFR and do this type of house hack instead of purchasing a townhouse. That might be the best way to help you build out a rental portfolio that will actually cashflow.

Totally understand that you're going to be a year and a half out. Still would be a good idea to start putting together a plan for you and your future husband. This way you can put together a solid budget, figure out what you really like, and then when all your ducks are in a row, you can pull the trigger to purchase your first home :)