All Forum Posts by: Brent Blum

Are you stockpiling cash right now?

Do you believe investment properties will go "on sale" in the next year?

If so, where are you keeping your cash (or cash equivalent)?  

A saving account just feels lame.  I'm looking for options that are nearly as liquid but have better returns.  Any suggestions come to mind?  Or maybe that's why they call it *dry* powder....

Comms. I’ve got the guest communication nailed, but apparently I’m still working on my spelling. :-)

@Amanda Jacobellis, I'm shopping for a STR in Big Bear Lake. I'd be interested in joining your squad - I've got the marketing and comma nailed, just need a good cleaner and a repairman.

I'm shopping for a distressed small multi-family in the following neighborhoods:

• Kennedy Heights
• Pleasant Ridge
• Silverton
• Norwood
• Mt Auburn
• OTR

Please reach out if you come across this kind of inventory.

I'm wrapping up phase 1 of a house-hack, BRRRR, located in North Park. Do you have any recommendations for someone to take on the following scope:

1. * Pavers – 1000-1500 sqft, of excavation, drainage, leveling, base & compaction. I’ll provide the bricks
2. * Below grade hot tub – excavate a 68 sq ft, build CMU wall around it, pour 4” thick concrete pad with drain to sump pump, excavate, plumb & install sump pump.
3. * Casita – Build an (unpermitted) 10’x12’ casita with pitched Spanish tile roof, shower, sink, toilet, window, hardwood flooring, electric, flat stucco exterior (will discuss further on site)

Thanks in advance, guys!

@Dan Heuschele, thanks for your thoughts. I plan on disclosing it. It's fairly common to see such things on the MLS in this area. "2500 sq ft 5BR / 3BA with unpermiited bonus room."

@Shaun Weekes, ARV is (hopefully) $1.750M. The note is about $1.050M. The zoning is technically a SFH with an Accessory Dwelling Unit. The house is a 1700 sq ft 3/2 and the ADU is an 800 sq ft 2/1. Thanks for your help.

@Aaron K. No plans to rent it (it is not the rental unit I mentioned in my intro). Think of it as a bonus room with a bathroom, no kitchen. Would make a good office, playroom or guest room. Thanks for your feedback.

@Aaron K. Been fighting the city for two years, tough inspector, three plan changes... and it will be next to an unpermitted deck + hot tub. But maybe the next inspector wouldn’t notice(?). When we sell, I’m guessing the retail buyer won’t care too much that it is unpermitted. Agree?

Who is right, my GC or my agent?...

My wife and I are finishing the conversion of a SFH into a duplex in San Diego - primary residence on one side, rental unit on the other. We've passed final inspection and will be looking to do a cash-out refi ASAP.

The last part of the renovation will be to build an unpermitted 12x10 "casita" with bathroom in the back yard.  See the image below.  If we build the casita now and then refi, my contractor thinks the appraiser is likely to notice the casita is unpermitted and add $0 or possible subtract from the value.  My agent thinks it will add $0 or possibly add something close to the value of 120 permitted sqft, w/ bathroom.

Any appraisers out there?  Who is right, my GC or my realtor?  Should we add the casita before or after the refi?

Thanks!

PS - Anyone who can do a competitive cash-out jumbo loan, please feel free to reach out.