Additionally, it needs a new roof, new HVAC, new plumbing, the septic is over 30 years old, the well could use a filter, a few new windows, none of the electric is up to code… and it’s on almost an acre of land….

The ages of these properties weren't built as side by sides, and when they do come up, they are supremely expensive, and catch a premium every single time.

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I've already picked up some great tips, like focusing on operating costs, using comps for ARV, and the unicorn-like nature of good contractors.

They both were up in the Glendale area for 15-20 years or more, and were very involved with the local business community.

- Renting it Out: The likely rent I'd get in this area will cover half my mortgage payments at the moment- Add Square Footage: Taxes will likely go up significantly- Build an ADU: Overall ROI will likely not offset much since it'll still be counted as value tied to the one house- Selling Off Land: Sits on .5 acre that I might be able to sell.

I recommend everyone always create their own IRR calculator as they can get pretty complex and oyu will want to understand all the inputs and outputs. we provide a basic one to those in our membership group but I always recommend build your own and understand not only the numbers but sensitivity that lines up with those inputs.If you are hard money lending thats simple as its just a column of dates and amounts for loan provided and monthly interest and points.

CA really cleaned up the fractional note business from my days of doing it in the 80s..

Are there any local real estate meet-ups or community here that investors meet-up?

I looked it up and read that’s an electrical fire hazard.