All Forum Posts by: Jason Hsiao

That's awesome man! Where and what kind of ADU was it? Illegal garage conversion? Basement?

Bingo! Good deals are made not found or handed to you on a platter now. Need to learn to be a little bit creative and think outside the box like w/ the ADU method or adding units

House hacking or converting ADU's to generate rental income to cover your expenses like @Eric Chiangmentioned is the way to go!

I would also re-consider using FHA. I know BP talks about it all the time, 3.5% down woohoo!! Sadly, those offers go straight to trash right now bc sellers don't want to wait with you and jump through all the hoops FHA requires. If it's possible, I'd try putting 5% down and pay the PMI. A friend of mine is doing that down in Long Beach converting a SFH into 3 units. He's actually cashflowing and because his equity base is so low his cash on cash return is insane.

It's hard but not impossible @Mike Berina and @Kevin Tsai. Utilizing ADU laws, have some flexibility in the area you're targeting will go a long way. Happy to brainstorm or bounce ideas around.

Can't time the market... if it cashflows in SoCal go for it. Are you planning to self manage @Kareena Sharma? I also didn't see any vacancy factored into this.@Kareena Sharma@Kareena Sharma@Kareena Sharma

Robert Hall I've heard good things @Graeham Ford-Feliz and Amanda Han is great, too. However I don't think Amanda is taking on new clients right now. DM me and I can send you who our family uses. I don't think he wants me to blast his phone number on the internet.

I usually budget 2-5% but that depends on the market and price. Higher price usually lower in that range. If you really want you can quote it out w/ the title company. Both Old Republic and First American have a calculator you can use and add whatever your loan closing costs are.

1BR is going to be more valuable, desirable, and easier to rent but in terms of bang for your buck studio might make more sense @Marcelo Martinez. Similar to what @Sebastian Marroquin said, there are multiple factors, kind of depends on your budget, timeline, etc. Happy to brainstorm and be a sounding board.

Great comments already so I won't repeat those @Allen Wu. I'm in SGV area myself. Also keep in mind agents are intentionally "under list" to generate extra eyeballs and interest to induce a bidding war that creates what we see as "overpaying." Houses that should go for say $750 - 770k agents are listing it at $698k or we see a lot of $998, 997k listings with market price at $1.2m or 1.3m.

Home is a home, not an investment IMO. If you can convince the wife to do house hacking or add ADU they could be creative routes. Happy to brainstorm and discuss options.

I use a broker - https://www.asibrokers.com/ Ask for Dmitry.