All Forum Posts by: Julie Summons

Question to all MF experts on Pros/Cons on my approach on this investment property.

Recently acquired a fixer triplex (front house 3/2 w/ back duplex 1/1) with a detached 2 car garage. Max use allowed by City = garage conversion + ADU above converted garage. That will make it 5 units. No parking requirements per city since it is close to public transit. Ultimate investment goal is to hold it free and clear and use as retirement income. A potential 3rd floor deck (if city allows) has peekaboo ocean view

Ultimate question: what are the CONs for turning this Triplex to a 5 unit vs 4 unit MF?

eg. so far friends in the Lending industry kept mentioning "cannot refi" if has ADU. and 5 unit considered commercial, etc. Still not sure what the "cons" are there ...

Thank you all.  will give them a try.

Hi all, any referrals of a Landlord / investor friendly Real Estate Attorney serving California will be appreciated.  Looking into purchasing a super fixer in San Diego with tenants occupied (a good few months till lease ends).  Would like to understand how to minimize my risks on this investment as the condition of the property is NOT what I normally would even allow it to be rented (compared to my other self maintained properties).  Thank you.

New to BP but not new to San Diego. My Ultimate Goal: Build a portfolio of $10k+ passive income (net) and live by the beach in San Diego within 10-12 years (and "retire"). I have a decent full time job, can qualify for a good loan, no debt, have $200k seed money.  Can purchase something now worth $1+M.  Now just trying to figure out where to start.