All Forum Posts by: Wesley I.

@Devon Moore

Every Jurisdiction/city is different.

First of, verify the size of your septic tank if its really 2500 gallons. If it is, go to your city’s planning division and tell them your plans to add a bedroom and see if your existing septic tank is big enough. They also might have as built record of your septic system.

In the jurisdiction im in, a 1000 gallon septic tank can support 3 bedrooms.

@Chris Seveney

Thanks for sharing your story.

Your definitely one of the talking heads I followed and listened to when I was educating myself about notes. Always loved the straight talk, NO BS, and the warnings about the so called “Universities”.

I sold all of my notes to fund physical RE but will eventually get back to paper.

If youre ever down here in San Diego, id love to treat you to lunch or dinner.

@James Wise

Cat’s claw, trim nailer, power tools, circular saw, all 50 lbs of it. checked it in.

Flying out of state to do the work and carried tools - guilty as charged! LoL

@Jean Pierre Jabo

How much would you pay in rent for a similar 4bd/2bath in your area?

Goal is to reduce your biggest expense (housing) with income coming from the ADU to save money for your next RE purchase.

And is the projected $1700 income from the ADU comps for a long term lease? Its possible you can get more with MTR/STR.

@Bruce Woodruff

Just watched a Tom Silva tutorial, it’s easy!

“We’ll just foreclose and take over the property.”

Hah! Took two freaking years to serve every heir.

@Marcos Cardenas

Civil engineering or Accounting.

@Eric Andrekopoulos

Might depend on the state you live in.

Im in CA and i think the number is $50k, if I have assets more than that then its going to go to probate.

If you have minor kids and have a primary home, you might want to start looking into a RLT.

@Ryan Tongue

I had mine with Chase, they will ask for your EIN and other LLC documents.

Also a reminder that LLCs require the FINCEN reporting.