m=9&y=17&utm_source=HAR%2FMLS+Master+List&utm_campaign=37e6c93251-January+2017+MLS+Release&utm_medium=email&utm_term=0_5c0a7c027d-37e6c93251-252424337Houston Real Estate Highlights in August, 2017: Hurricane Harvey ended ten consecutive months of positive single-family home sales, as volume plunged 25.4 percent year-over-year with 5,917 units sold;Despite Harvey’s rampage, single-family home sales remain 1.8 percent ahead of the 2016 volume on a year-to-date basis;Total property sales dropped 24.2 percent with 7,077 units sold;Total dollar volume fell 22.2 percent to $2.0 billion;The single-family home median price rose 3.0 percent to $231,700;The single-family home average price increased 2.6 percent to $296,418;Single-family homes months of inventory grew to a 4.4-months supply, but is expected to shrink with strong consumer demand for housing in the wake of Harvey;Townhome/condominium sales dropped 31.4 percent, with the average price down 1.1 percent to $196,230 and the median price up 2.0 percent to $159,000;Leases of single-family homes rose 9.4 percent with average rent unchanged at $1,857;Volume of townhome/condominium leases jumped 17.0 percent with average rent down 2.2 percent to $1,551;HAR continues to encourage anyone who has housing available for temporary occupancy (up to 12 weeks) to please post it on our Harvey Temporary Housing page as soon as possible at www.har.com/temporaryhousing to provide housing to those in need.

Here's the numbers:Single family house in NE San Antonio. 1,456 square feet, 3 bed 2.5 bathPurchase price: $105,000Rehab; $20,000Hard money loan: $112,500Cash out of pocket (From HUD stmt):$12,500 (down payment)$2,250 (points)$385 (lender fees)$892.50 (title fees)$1,320 (insurance)-$2,001.34 (credit for unpaid taxes)Total: $15,346.16Actual rehab cost: $19,678.12Hold time until rehab and refinance complete: 98 daysInterest expense: $3,020.55Refinance loan terms: 30 year adjustable rate mortgage at 5.75% interest fixed for 5 years at 85% LTV and 1 point.Appraised value: $164,500Cash-out refi amount: $139,825Cash back in my pocket after lender fees, title fees, down payment, interest expense, insurance, etc are all accounted for: $5,389.50Now the place is rented for $1,200 a month and I figure I'll pocket about $200-$300 a month after expenses and mortgage payments and in the end, no money tied up in the deal!

Now for the bad part, we could probably come up with about half of that amount total as down payment.

I would look for location obviously and enough square footage so that you don't have to get into permits to expand.

If people say they can't make it at that time, I take down their info and contact them again if the showing doesn't end up getting it rented.Another option is installing a combo lockbox, then having the interested party call or text when they arrive and then call when they've locked it back up (obviously get as much of their information as possible to mitigate the risk).  

Do not include any late fees in the total as CA courts view those as liquidated damages and may reject a notice that states a higher than owed amount due.

I am new here and could use some adviceHere is the situation:  I own a condo in South San Jose, CA that needs a total gut. 

I totally understand what you are saying about slow and steady wins the race... but right now, riding the appreciating housing market is the way to go.

The question we are having a tough time with is how to value the investment in the ADU relative to the total property.

Our goal is to obviously have good positive cash flow, to re-invest in more property.