There is a barrier to entry, and the city is pro business, but our market had much better metrics.Lower entry points should not factor into getting in a market.

Also, be sure to factor in maintenance and potential CapEx, especially for older properties.

Besides mortgage and taxes you should factor in cap ex, repairs/maintenance, property manager, insurance, and vacancy.

In today’s housing market, where inventory remains tight and competition is fierce, speed and decisiveness have become critical factors in securing a home.A Market Defined by Scarcity and CompetitionThe U.S. housing market is still struggling with the effects of years of underbuilding following the 2008 financial crisis.

This can provide additional capital for future investments and get the next one.Or evaluating other loan options:Depending on your long-term plans, you could explore conventional loans or portfolio loans that might offer more favorable rates or terms with the new appraisal value factored in.Your decision depends on your broader strategy.

Besides the stress, the other main factor that I want to point out is- time and use of money.Wholesaling would have been much faster and that money could be used for the next deal faster.

You definitely need some WOW factor in play here!

There are several factors that affected my decision, the first being the rising condo fees. 

Revenue in my opinion should play a bigger factor.

I recently completed one on a multifamily property and found it to be a cost-effective approach.That said, there are a couple of additional factors to consider beyond the code differences between a garage conversion and new construction:Coastal Overlay Zones – If your property is in a coastal overlay, building a ground-up ADU may require Coastal Commission review, which can add time and complexity to the process.