All Forum Posts by: Karen Margrave

This is one of those, you don't know what you don't know. Inexperienced investors, especially those that aren't builders, should probably stay away from fire damaged homes. There are several questions that need to be addressed, Was it a total loss, or smoke damage? Location? What year was the home built? (may make a difference in demo costs, could require materials to be trucked to a hazard waste site, also other remediation could be needed)  Is it on public utilities or on septic and well? (They are often damaged too) What is the cost for demo, then reconstruction (get actual bids) In regard to permit fees, many areas give credit back on fees for burned homes, ask if yours does. 

I live in Shasta County, where we have had a lot of homes destroyed by fires. Personally I wouldn't want to do one of those jobs, too many unknowns. 

Cara is correct. The market is very tight right now, and the tenant finding a place to move to could factor into them moving, therefore; to be sure you are going to have a unit for yourself, you are better off asking for the unit to be vacant at COE.

HOME AND ADU IN REDDING, CA. MUST SEE!! Perfect location for marketing to traveling medical professionals. Situated in an upscale neighborhood with high demand. Spectacular views of the western mountains. Upstairs features 3 spacious bedrooms, 2 Bathrooms, Den, Living room, Open concept Great room/kitchen beautiful peninsula. Lots of decking. Take the stairs off the upstairs deck, or meander down the walkway on the side of the house to the Downstairs ADU/in law unit, which is impeccable that has the same incredible views of the mountains. Back of house looks out to open space, so nobody to peer in! Asking $587,500. (All furnishings are negotiable) Sellers have purchased property in Tennessee and NEED TO SELL!

Redding, CA is in the real northern California, surrounded by lakes, the Sacramento River, Burney Falls, Shasta Caverns and 2 Volcanoes, Shasta and Lassen. Hundreds of miles of biking and hiking trails. 

Redding, CA, Short Term Rental, STR, Long term rental,

For information on this or any other properties in Shasta County, please contact me! TEXT ME FOR VIDEO

Karen Margrave

REAL- AMERICAN REAL ESTATE

DRE: 00848454

CALL/TEXT: (530) 782-1800

On things like this, the best bet is to contact a local real estate agent and ask for recommendations. Finding someone on BP for something time sensitive is a crap shoot. 

Be sure when comparing bids, you are comparing apples to apples. Type of cabinetry, countertops, fixtures, etc. Do you want basic, or upscale. Specify materials for bids. Check licenses, and references! Good luck. 

Aside from the costs of the loan, what is your experience? Even as a licensed general contractor, with years of experience in new construction, I can tell you that when doing a remodel a few years back, we ran into issues that ended up costing much more than we had anticipated, that were problems not visible upon inspections. 

Unless you are an experienced rehabber, I'd say be cautious. Especially in these times of rising costs of fuel, materials, and labor. 

The world is rapidly changing. Whatever you take in college you want to be sure it has future value. There are many tracks you can take, depending on your interests, that will support your real estate endeavors. Project management is extremely useful in whatever you do in life. Real Estate, Finance. Business Administration. Planning, etc. Many times what you do for a paycheck supports your other ventures. Education can open doors that others can't get through. It's not that you have to have a degree, but knowledge is important. There are so many professions related to real estate, real estate development, and construction. Good luck!

Is there any new construction being done in the area where the land is? If so, who are the GCs that are building? What Realtors are active in the neighborhood? Ask them if they have any GC referrals. Do you have any Builder Services organizations? Sometimes you can submit your plans and have them bid. When getting bids, make sure you are comparing apples to apples. Have all bid the same quality of finishes, etc. CHECK LICENSING AND REFERENCES. Go see any homes they've built, don't just rely on photos, as anyone can post photos of anything online. Look at the permit history with the Building Dept and verify they were actually contractor.  Good luck! 

You didn't say what the building use is for. General contractors bid on plans. They can't bid what they don't know.  If the architect designed a project, and did it based on stick construction, that's what they'll bid. If on the other hand it's designed using metal studs, they'll bid that. If it's a steel building with open span and large iron beams, they'll bid that. However; not all generals are able to do all types of construction, therefore; you'd need to know beforehand which design you are going to go with in order to find the best qualified general. Nailing boards takes different labor than screwing in screws. Installing large steel beams and infrastructure to support them is much different than other types of construction, and you'd want a company that specializes in steel buildings.

Probably the first step is to find an architect that has experience with designing the various types of construction, show them your plans, and ask them what it would take to design with other materials, the pros and cons of each, and go from there. 

If you're sure of your numbers, get the seller to do a joint venture with you, form a partnership to take title to the property, you put up the money and do work for rehab, and you split net proceeds upon sale. Make sure everything is in writing, and who pays for and does what, is spelled out clearly. Have a lawyer draw it up.