All Forum Posts by: Ben McMahon

@Susie Oanh Nguyen

I am in the process of getting my contractors license if you still need help.

Multifamily has been overvalued for years.  Everyone wants it, I wouldn't touch it unless you find a sick deal. Very rare.  Better would be to repurpose something into multifamily.  Hotel, vacant office space.  As long as the zoning allows.  

Theres stuff in the midwest that seems attractive, but there's a lot of cons there as well.  Good luck Brah!!

Ive been looking actually at the Commercial Construction Industry as a good place to be in.  Every business fallout is either going to change hands or get repurposed, or both.  Not sure about new builds, but TI s will be huge.  Lots of layout changes due to new regulations and all that.  

Glad I found this thread.  I am actually looking for buying opportunities in this space.  Particularly in the southwest as well as Texas and Florida.  Anyone have any suggestions on where to start looking?

I am applying to get my General Contractors license in CA.  In particular, San Diego County.  My whole background is contracting, so qualifications aren't a problem, just wanted to know the fastest easy way to make it happen.  I am planning on being a commercial GC.  Any assistance would be great.

Ben

I have also paid tenants to move out.  Sucks, but its better than collecting 25% or more likely nothing for the next few months at best.  If he is taking that position he is likely to stop paying all together.  What about asking him if he can move into the back garage?  With a reduced rent for a couple months till he finds a new place.  Month to month, so that he can leave and you can get rid of him when the whole thing lifts.

I live in San Diego and am interested in speaking with some of the business brokers in SoCal. I really think there is going to be a lot of businesses changing hands over the next year or two, and I want to be in that deal flow.  Also, I am wondering if anyone is or has been, or is a business broker?  What does that look like?  Very interested.

@James Hedgecock

I didn't realize how favorable the laws in SD are for ADU's. I used to utilize the strategy in Virginia for cashflow, but there were differences. For one thing we called them Granny Flats. Also, they rarely added appreciation value. Certainly not recognized by appraisers anyway. But the ADU can be sold as a separate unit from what I read. Is this true? Thats a huge value add if it is.

@Madison Martindale

Hey Neighbor, I'm also in North County.  Everything that everyone has been said is solid advice.  I moved to SD a year ago.  Its a different strategy investing in SoCAl.  Theres no such thing as cashflow here.  Unless you refer to Negative Cashflow. Ha.

That being said, there are certain advantages to investing near home.  If you really want to learn, you need to get your hands dirty.  Go through the process yourself of managing the property, dealing with Tenants and all that.  After that, it will be a lot easier for you to invest out of state knowing what questions to ask PM companies etc.  Out of state, this is a great place to VET a turnkey provider.  I agree with @Soh Tanaka.

If you want to chat more, just DM me.  

We do a lot of work with PM companies in San Diego.  Many of the site managers aren't coming into work, and I've seen a pretty steep slow down in calls.  On the Residential side I think its just going to depend on the homeowners but my guess is that a large portion do not want contractors near them.  Or anyone for that matter.