New Investor. ADU rental vs out of state rental?
First post here on the bigger pockets forums and new to real estate investing.
I live in San Diego California and with increasing home prices have acquired a large chunk of equity quickly.
On my property I have the potential to add an ADU that I would use for long or mid term renting. In my City we have one very close hospital with another even closer being built in the next year both with a lot of traveling nurses in addition we have a college for potential midterm student renters.
My other option would be to invest my money out of state into BRRRR deals with insight from another investor who invests in the area I'm looking into.
In either scenario I will be using a HELOC to finance and would appreciate the input of everyone paving the way for a rookie investor!