BiggerPockets Daily BiggerPockets

  In our first sotry today, California ADU laws have been softening for several years in an effort to increase housing space and availability. ADUs are often used as rentals, which can help alleviate some of the pressure on rental supply. However, what it doesn’t do, is increase general housing supply, as ADUs are considered a part of the primary residence, where only one person can own it. However, Assembly Bill 1033 was passed in California last October that changes everything, and presents investors a huge opportunity.

  Our 2nd story highlights that rents were on the rise during the peak pandemic years, only to come back to normal growth trajectories over these last couple of years, with a few pockets of decreases and increases depending on the market. Spoiler alert: The same is going to continue, but at least we are confident enough to say it’s guaranteed. At least according to Barry Sternlicht, CEO of Starwood Capital, who said that with widening supply gaps and a lack of construction, we’re guaranteed to see rents continue to grow for the next two years

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As a rental property owner, there’s no better feeling than a tenant signing a lease. This puts you on track to generate a positive return on investment (ROI). 
Unfortunately, things don’t always work out as planned. For example, a tenant not paying rent can turn your profit upside down. 
Should you find yourself in this situation, there are several key steps you must take.
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Pittsburgh has the hottest housing market in the country. Who knew? According to Redfin, Pittsburgh housing prices were up a mighty 22% from February 2023 to February 2024, making it the city with the fastest-growing house prices in the country. 
Formerly the heart of the Rust Belt, the city has recently reinvented itself as a tech town, welcoming major players like Google, Facebook, Amazon, Uber, Apple, and Microsoft. It’s not by luck. The city’s Carnegie Mellon University boasts one of the country’s most coveted computer science degrees, which turn out some of Silicon Valley’s top tech talent.
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When discussing rental properties, it’s common for people to refer to multifamily residences. How many times have you heard someone say something like, “I have 20 units under management,” most of which are probably spread across just a few buildings?
This investment approach is logical from an economic standpoint. Having four units under one roof versus just one, four rents instead of one—you get the point. 
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During much of the year, this short-term, two-bedroom rental in Indio, California, a lovely, quiet, desert town about 35 minutes past Palm Springs, hovers around $172 a night. That is, until mid-April every year when thousands of revelers descend on the world-famous Coachella music festival, the listing says it is a 17-minute walk away.
During those weeks, this very same rental commands $808 a night. That’s more than a 369% increase, and it’s the same for every rental in the area, in every price range—for example, $410 goes to $756; $2,300 goes to $6,386, etc. 
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Simply investing in any metro Sunbelt market is not a recipe for success. To catch a cresting wave of appreciation and cash flow, you’ll need to dive deep into the metrics to examine where people are moving to, how property and rental prices are increasing, and what the unemployment rate is like. 
The good news is that we’ve done it all for you! So stop throwing darts at the map, examine our findings, and pick markets like the savvy, switched-on investor you are.
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