All Forum Posts by: Ali Nichols

In today's world, I look at an addition like this (if feasible per the city) as a "what is my payback period play."

For example, ~6 years ago, I added an ADU to a property of mine in Portland. Borrowed money from my grandpa (~$100k), and with the rent at just around $1250/mo I am nearing payback after 6+ years. Then... it's all gravy on top of that.

Of course I was lucky to have this relatively low cost of capital, but when you think about the payback period on an ADU or addition, if you are looking at 5-10 years, go for it :)

Thanks @Alan Asriants and @Gaetano Ciambriello !

Does this apply for VA loans as well or only FHA?

Happy to connect and chat more about where I'm looking personally - in a similar bucket. 

Hey Katherine, agreed with all focus on Ohio. Plenty of other markets out there too. Consider macro tailwinds (new jobs, migration trends, supply/demand etc.) along with important factors such as price to rent ratios along with landlord friendliness, property taxes, etc. 

We also like tertiary markets in states such as Colorado (low property taxes), Georgia (i.e. Athens), NW Arkansas, etc. Deal by deal. 

Anyways, @Sesha Bhojanapalli congrats on getting pre-approved. We keep a close eye on the Texas markets and I'll keep you posted if we come across anything interesting. 

@Nick Halula great stuff, you are in a good position to kick off your investing goals. Really great advice from @nathan. 

Happy to be a sounding board as wel!

Love it. Welcome to BP @carshawn

Welcome Kimo! Kudos to jumping into your first BP forum :) We invest out of state and always happy to connect. 

@Steve K. makes total sense. Although a crazy statistic is 42% of homes in the US (that are owner occupied) are owned free and clear.