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Updated about 3 years ago on . Most recent reply

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Nema Escartin
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Reasonable cost for Los Angeles property projects

Nema Escartin
Posted

Hello BB Family,

Need your expertise as to to whether my contractor presented me a reasonable costs. My rental property is located near USC. I need roofing done and was presented a cost of $28k, exterior painting of $9.5k ( 2 story SFH).

For the one bedroom ADU (ncluding plan/permit), tearing down of existing garage and fence, it will be $230k.

Balance on mortgage is less than $200k and the latest appraisal is at $900k.

I am now approved to refi at the rate of 4.125%

Before I sign the final documents, am I making a sound decision here?  

Any advise will be very much appreciated.

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Bruce Woodruff
#3 All Forums Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
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Bruce Woodruff
#3 All Forums Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
Replied

We cannot give solid advice without knowing the size of the place.

What you have so far seems about right except roof seems high. How many SF?

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