All Forum Posts by: Andy Chen

Hey Alex, I'm interested in meeting other people in the ADU development space. I do these purely as investments and would collaborate with others to discuss challenges with finance and ground up construction.

@Mark Doty love to connect. I am also an investor in SD.

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San Diego, California

Hi Alex, I would love to connect. I am in SD too.

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San Diego, California

@Nick Maugeri Thank you. I feel the easiest way is to use replacement cost. That may be why I heard that many ADUs are appraised around the building cost. Is there a system which allows us to search the transactions by whether this house has an ADU/JADU? I don't think it exist yet.

If that is the case, can we do our homework by providing the comps with similar attributes (ADU, JADUs, etc) when requesting the appraisal? I am in San Diego, it is not hard to find properties with ADUs sold recently.

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Orange County, California

Quote from @Nick Maugeri:

Appraisers will pull from comparable sales with ADU's - even if they have to go farther and from a later date. They will not compare an ADU against a stick built home.

Does it mean that in this case, they will only compare with a house with one JADU and one ADU?

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Orange County, California

sorry, I can’t seem to delete my post.

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Hi Logan, I am very interested too. I am in San Diego though. Can you keep me in the loop and would love to have the journey with other investors. I am building units too.

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Quote from @Steve Tucker:

Hi Andy, this is Steve Tucker with Homeriver Group in Phoenix, we are a full-service property management company. Give me a call at 480.291-6863 or email me at [email protected] with your contact information and I'll call you. I'd like to find out more about what you're looking for in a new property management company.

Thank you. I will connect with you.

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Phoenix, Arizona

Can someone recommend good property management companies which charge flat fee in Phoenix? We total have 20+ doors in Phoenix and we are considering a new property management company. Please DM me if you are interested too.

Thanks,

Andy

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Phoenix, Arizona

@Erik Estrada Thank you for your info. It is very hard to give up my 1st loan while the rate is so low. Thanks

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San Diego, California

@Erik Estrada

I don't live there. $500k on a HELOC is the max number I have heard after talking to many conventional lenders.

The LTV is 50% now. Another challenge is the appraisal for the property after 4 ADUs. It will be hard to find comparable properties.

Can I use the projected rental income $8k/month like DSCR loan?

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San Diego, California

All Forum Posts by: Andy Chen

Andy Chen has started 23 posts and replied 84 times.

Post: San Diego Multi-Adu Developers

Post: San Diego Multi-Adu Developers

Post: Appraising ADU’s in California

Post: Appraising ADU’s in California

Post: What are the Best Current Rates/Lenders for 6+unit Multifamily?

Post: Senior/assisted living facility investors/developers

Post: Recommend Flat Fee Property Management in Phoenix (20+ doors)

Post: Recommend Flat Fee Property Management in Phoenix (20+ doors)

Post: Financing Options after constructing 4 ADUs

Post: Financing Options after constructing 4 ADUs