All Forum Posts by: Vicky L.
Vicky L. has started 2 posts and replied 43 times.
Post: Build an ADU or start BRRRRing?
- Investor
- Simi Valley, CA
- Posts 46
- Votes 35
@Jaysen Medhurst Thanks for your input. I would like to invest in Boise, ID. That's currently our retirement destination.
Post: Build an ADU or start BRRRRing?
- Investor
- Simi Valley, CA
- Posts 46
- Votes 35
Dear BP people -
We are looking for advice/opinions. We took out a HELOC to build an ADU in our backyard last year. Before we've actually started building we discovered BRRRR. Now we have to decide whether to build the ADU or just start the BRRRR process in an out of state city (we live in Southern California). We have a few scenarios to consider.
- Build the ADU then refinance and start BRRRRing
- Forget the ADU and start BRRRRing using the HELOC
- Forget the ADU and HELOC and refinance the house and BRRRR with that money
The ADU would produce a good rent and it costs about 130k. The rent would be going to paying back the entire HELOC in about 10 years. I'm not sure that qualifies as cash flow.
We are 60 and 56 years old and want to get some BRRRRing done so we can retire out of state by the time hubby is 70 (with some cash flow).
What do you experienced investors think? We appreciate your comments and insight.
Post: Blue Board Drywall for the Whole Kitchen?
- Investor
- Simi Valley, CA
- Posts 46
- Votes 35
Range hoods are great but you can't make a renter use them. They can be noisy and I avoid using mine because of that. Look at the other recommendations so your unit breathes. I suppose it would be tacky to put one of those humidity sensing bathroom fans in the kitchen =/ Just my 2 cents.