Investing in Fresno CA and surrounding areas

[Dustin D. Candler]

Hello group. I'm new to investing. I've been approved for my loans and I've set myself a goal of purchasing a fourplex with the help of California first time buyer programs. My question is: I'm really having a hard time finding a deal that makes since and cash flows in this market. I'm a GC and electrician by trade so I'm planning on staying in one unit, completely upgrading it and move on to the next units. I'll have a tenant moved into the newly renovated & Increase rent. I'm giving myself 3 months per unit. I'm not sure if I should use my own capital (cash and/or credit cards) or get a HELOC. Any advice? Any better strategies? Exit plan ideas?

[John A Murray]

Great idea Barbie but I would purchase a 3-4 BR SFR (with a detached large garage) that has the capability of spawning a JADU from one of the bedrooms bathrooms and converting the garage into an ADU. Plenty of opportunity to capitalize on his skills yet saving a fortune by passing on new construction. Even better, however, if someone has gone to the expense of building/converting into an ADU, and willing to sell for the low appraised value that SFR's with an ADU generate I'd certainly be interested in that, as long as the SFR is capable of easily converting a bed/bath into a JADU. The cash flow generated would be awesome but the value less so.