All Forum Posts by: Erin O'Connor Smith

@Meagan Yednock hi we are in escrow on a house just near town in YV on five acres that needs everything! Our realtor has great trade recos. Would love to hear who you like for cleaning too? What’s the name of your Airbnb rental? Congratulations on your success!

@Christina Hall any luck?

@Phil Wrigley hope you did it back when!

@Shiva Bhaskar thanks! We decided the place needed too much in sweat and cash equity to make sense for us as owner/occupiers, so looking for the next opportunity...

@Daniel Ziner you can't buy a SFH fixer in this market (LA Westside) for under $1.2MM. This is a 5-10 year appreciation move for us to live in and gain equity/pay down mortgage.

@Alfredo Castro we are able to get the 2.65% rate only by making it a conventional loan (vs jumbo), which cannot exceed $1,053,000. Yes, tying up a lot of capital. Our down will be $417k plus closing costs. 

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@Adrian Kar what did you end up doing? how's it going?

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@Justin Lee refinish these beauties!

@Rick Albert @Aaron Norris @Jonathan Taylor @Dennis Maynard @Will Barnard

I'm considering building an ADU on my half-acre triplex rental property in Glassell Park (LA). There are three SF homes with 0% vacancy at top-market rents and I could easily fit a 1200 sf ADU at the top of the hillside lot which has spectacular views. No issues with parking. This has been a buy and hold property for me since 2004, and the equity/cash flow is considerable. I could get $2500-$3000 per month for this ADU so 1% rule is met. I'm not worried about appraisals (buy and hold) and I have an architect in the family. Feels like a no-brainer yes to me since I own the dirt... but I've never dealt with new construction or modular homes. Anything else I should think about in my deal analysis or funding?