All Forum Posts by: Dan A.

Thanks all for the replies.

@John Koster I'm def intrigued by SB9. One issue that I wonder about in our case is that both units are already built and using the same water / sewer lines. I would imagine that would be a problem if you tried to split the lot? So then do you need to provide an easement to the owner of the lot that you're selling? Curious to know how things like that would be resolved.

@Rick Albert you make a good point about the feasibility of a 3rd unit. Fortunately there is plenty of street parking near the property, but the outdoor space is not ideal. 

@Christopher J Driscoll great to hear that you're having some success going this route. I'll reach out directly, would love to learn more about it.

@Will Barnard

No, I have the plans/permits for both units including the certificate of occupancy for the newer build.

We own a property with two detached units in Atwater Village on a ~6k sq ft lot that is zoned R1. The property also has a detached garage. Can we convert that garage into an ADU? The reason I'm unclear is because the property already has two units, it's not a SFR.

This looks like the key update in the 2020 change to the ADU law that makes this doable:

65852.2.

(D)(ii) The lot is zoned to allow single-family or multifamily dwelling residential use and includes a proposed or existing single-family dwelling.

Has anyone actually gone through the process of getting an ADU approved w/ a similar setup? I have a call into the city and waiting for a call back.

Thanks @Lee Ripma, I appreciate the responses.

Thanks @Lee Ripma. 

Does TC = title company? If so, does that mean that all-in for broker fee + title insurance was $1k or less? Anything you would have done differently when you were starting out?

Thanks @Lee Ripma. 

REeBroker advertises a $500 broker fee per transaction, which almost sounds too good to be true. Did you run into any hidden costs per transaction? They also advertise no upfront or monthly fees to join. Did you find that to be the case?

Why did you end up switching to United Realty if you don't mind me asking?

I am finishing up coursework for my RE license so will soon need to choose a broker. I'm going to be using my license primarily for my own transactions, so my primary objective is to find a broker with a favorable commission structure to the agent and a good reputation. Some limited support on a one-off basis would be helpful as well. I've heard of REeBroker Group, Big Block Realty, and a few others but don't have any firsthand experience with any of them beyond what I've read online. 

I would appreciate any insights or experiences from investors who have worked with any of these brokerages. Pros, cons, and whether you would do anything differently as you were getting set up.

Thank you!
   

@David M.

My situation is pretty unique in that we will make a lot more W-2 income in 2021 (due to a bonus that I received in Jan 2021) than we will in future years. So, our plan is to couple the RE pro designation with a cost seg on a 4-unit investment property that we purchased in Nov 2020. Together, we should be able to offset a lot of our 2021 W-2 income that is taxed at a much higher marginal tax rate than any income we will have in future years. So we get to pull forward the tax benefits AND each $ of deduction is more valuable because it offsets a $ of income that would have otherwise been taxed at a higher marginal rate. Hope that makes sense.

@Michael Plaks

Interesting viewpoint, thanks for sharing. I never thought about it from that perspective but you're correct, the primary objective would be to further my career as a property manager + investor, rather than to start a career as a realtor.

@David M. 

It's a very fair point. I should be fine either way, but I like that these hours can be very easily documented because it is a prerequisite for the license. So if I can apply the hours (appears to be 45 hours per course * 3 courses = 135 hours) then I think it makes sense for me to take the plunge.