All Forum Posts by: Alex U.

Going to be interesting to see what sort of impact the new Government's mass deportation policy has on rents and construction costs.  Rents could continue to fall, and the cost of labor rise dramatically.

https://www.cnn.com/2024/11/19/economy/new-home-undocumented...

In similar boat, have been denied by 5-6 carriers.  The labeled the whole state high fire a few years ago, and now no one can get insurance.  13% of deals are not closing as people can't get insurance.  Some insurance companies are asking to see the home inspection report in order to give you insurance or to install a $750 water shutoff valve if the home is older than 20 years old.  If you share a home inspection report, they may deny you anyways for something else.  

If you are a San Diego Multi-Adu Developer ( 4 or more units) looking to network, collaborate, and learn from others please DM me.  

 W2 hours are all over the map.  There are plenty of people who are paid for 40 hours but actually work 60.  Then there are people who are paid for 40 but actually have 2 or more w2s working from home.  And there are people who probably work 2 hours a day in some corporate job and are paid 40.  Everyone has 168 hours in a week.  It’s not that hard to work a 40 hour week and still do 750 hours in real estate, it’s 2.06 hours a day…7 days a week. that is surely “not impossible”

If the logic of managing an STR is active income, the amount of effort to be a developer is far far more than managing an AirBnB.

Most people know about the STR RE professional loophole. If you are developing ground up construction and have another w2...would that qualify yours a RE professional?

Has anyone sold a 5+ unit ADU project in San Diego on residential zoning (RS)? Or know of any that have sold or appraised? Not finding many in my searches.

 Thanks Ko.  What sort of requirements are there for a construction loan?

A new city heights affordable housing project has gone up at a cost of over $800k per unit.  Another one below at $600k+ a unit.  As the local governments struggle to manage tax payer money responsibly, they should really offer incentives to private builders to build "income restricted" at a much lower price. $220-$300/ft for vertical build costs.  Merge 56 is 41,257 sq ft ...works out to $708/per sq ft all costs.