Updated almost 3 years ago on . Most recent reply
Newbie. Single family to muli family or adding ADU.
Hi guys,
I am very new to this, no real estate background and I am looking to get my feet wet. I've been a follower of Biggerpockets for awhile now and I don't really know how to jump in. So here's my situation, any advice would be appreciated. Thank you in advance!
I am currently working on a pre approval to start looking at homes. Ideally I wanted to purchase multi family but in the area I'm in its very expensive (I live in the SF bay area). I'm hoping to house hack a SFH in the Sacramento area and either convert it to make it a duplex and/or add an ADU. I would do the renovations myself with the help of my bf who has carpentry and maintenance experience. I know its going to be a journey and there's going to be a steep learning curve but I'm ready to fail and get back up. I'm bracing for impact lol.
Any advice, things to look out for, if you think my idea is dumb lol, let me know.
Lora
Most Popular Reply
It sounds like you know that you want to do a live-in flip but aren't sure what the best type to do is. What if you are open to them all and see which option comes available? You could also research each option to see which fits your goals. I would take a look at sold properties that match what you are looking for and sold for what you wanted.
- Brad Hammond