All Forum Posts by: Alexander Palomares

@Natalie Cloutier

Now i have this burning question- how did you calculate value based in sweat equity? And for how many people?

Thanks again for your valuable insight.

@Adit Shah

Hi Adit. Thanks for chiming in. The city told me that, but it never hurts to ask again.

Ill keep you you updated on outcome.

@Natalie Cloutier

Thanks for the feedback Natalie. Thats the same strategy Im going for, SFH to start then Multi Units. Love would love to pick your brain about it sometime.

@Greg Dickerson

Thanks for the input Greg. You confirmed my thought process, the lower upfront costs is what keeps jumping out at me.

@Sue Hough

Hi Sue. Thanks for your feedback. No zoning wont allow for an ADU. The lot is in a Historical district and thus the city is mandating a SFH with attached garage.

@Bobby S.

Hi Bobby it is in So. Riverside county. Lake Elsinore.

@James Hamling

Oh. Interesting, I didnt think of that option. Ill think about it also. Appreciate the feedback.

@Frank Hinck

Thanks Frank. Fortunately for me, I have a construction and project management background so i can navigate the proposal process. Appreciate the feedback.

@Dustin Allen

Thanks for the feedback. Yup im fairly sure ill cash flow day 1.

Hi all.

I have an empty lot in so.ca. that trying to decide what to do with it. I purchased it approx 11yrs ago for 12k and its now valued at 60k. It has utilities already there. Zoning is for Single Fam.

Im wondering if I should build a new single fam home, place a nice pre fab modular home on it, or just sell it.

Im thinking build, as im fairly confident i can stand it up with approx 240k. Mortage on the loan would be approx 1,400 month, and rental comps go for $2k in the area. Plus I can appreciate over time.

With a nice modular, obviously its way less investment. Similar rent income, I believe, but I wont get the appreciation over time.

Thoughts?