All Forum Posts by: Renee Coss

Good idea!!

These are great ideas!  

My garage is a two car garage. It does not have a bathroom. How will i rent out the garage with no bathroom?? How will that work??

I am a new member of this platform and a student of investing in real estate investing.  The only property I own is my home, and would like to take the next step and look at investment properties.  I am 59 years old and i am getting close to retiring, so i need some other forms income.  I paid off all debts with the exception of my home; and now i feel i am ready to start in real estate. I live in California and in doing my research, investment property in California is looking pretty grim!!  So maybe other states?  Not sure where to start, but i hoping this platform can give me some answers. 

Funny you mentioned out of state, I have been considering investing out of state.  

Could you explain how the 150k could give me 500k buying power??  Do you mean a down payment on a property??

Thank you so much.

My husband and I are looking for ways to generate passive income, so we did done some research on a garage conversion ADU. We live in Inglewood, California. They have just built two large stadiums near by, so we thought we would build ADU and do short term rentals. Then I did more research and found out the City of Inglewood does not allow you do STR with a newly built ADU. My plan was to do a Home Equity Loan and the STR income will pay off loan in maybe 3 years. If i do long term rentals i could only charge 1,600-1,800 a month in rental income. Not sure what to do now, and i don't want to carry a loan for a long period of time. Any suggestions??