All Forum Posts by: Glen Fullerton

I am not invested in CA, but I have done some house hacking there years ago. I know they passed some new regulations in 2016 that make ADU's easier to permit and build, but i have never heard of more than one being allowed. Currently in WA state the rules specifically state an owner can build a detached OR an attached ADU, but not both.

I ran across this article some time back an sent it to another colleague, so I am including the link for you.

https://la.curbed.com/2017/1/9/14219298/granny-flats-new-rules-state-back-house-in-law

I have a home that I bought back in 2001. I am contemplating selling it, but there is an 1100 SF shop (garage) attached with a MIL apt above it (approx 950SF with kitchen, full bath and 3 other rooms) that has a separate entrance. The total house SF is 3050. I have calculated that it will cost at least $6k to pay for county permits etc to get that addition permitted retroactively. I run the risk of having to do some pretty expensive electrical updates (the structure seems to be built to code and no outstanding issues that are obvious) as the house was built in 1978 and the addition doesn't meet current code as far as number of outlets, separate circuits, and arc-fault circuits installed.

In the current market I'm thinking I could sell it as is and probably offload it with a $10-$20k reduction in market value. Anyone have any experiences in similar situations?

I am a RE Broker and investor in WA state. There are a number of different groups of investors that I have been able to connect with and while networking with them I have found some that have had both good and bad luck with contractors. That information is great. I have contacted some of the great contractors that are sort of on the outskirts of my investing area and asked them if they can refer me to another contractor that is active in my geographical area. I find that people in any field that are very talented and especially those that hold themselves to a high standard of ethics and integrity will almost always only work consistently with others of the same caliber.

I would suggest also that you contact a local RE Broker and ask them, but while agents and brokers will almost always have a name for you, unless it is a broker or agent that has been in the game for years (today I would say anyone that has been active for the past 10 years or more), they are unlikely to really know first hand what the contractors abilities, ethics and accountability are. We get LOTS of contractors coming to us and giving us cards and handouts, but most of the time, especially with Buyers agents, the only ones we really know are the home inspectors, bankers and title/escrow people. My apologies to those of my Realtor colleagues that do not fit this description-I know there are some exceptions.

Sarah, did you find the broker you were looking for to help you with that deal? If not I think I can provide one that will be able to provide some assistance that understands investors.

Leslee, I can recommend the following folks in the Phoenix area;

Inspector:

Jim Petko, CPI

Title:

Lawyers Title

Debbie Fuller

or call Debbie Rogers

General Contractor:

Fix-My-House

I know you didn't ask for the other two, but just in case you don't have a repair person or a title person (two of the most important members of my team), I thought I'd throw them in too. If you need to use a good RE Broker, Jim Crow at C21 Northwest understands investor and works well with them. 

Great luck on your deals!

I have heard some great things about Dean’s philanthropy. Has anyone signed up for any of his courses? Particularly the Wholesaling. No idea what it costs, but curious what he is teaching. 

Welcome to the forum and to the fold of REI. I can totally relate to getting out of the Boeing rat race. That's where I am at as well. I am working on deals in the Everett to Stanwood areas and in the Akron OH area as well. (It is a lot easier to cash flow property back there!). Good luck @Ansel Carroll!

Carrie Giordano this was a great, informative post/thread! Would you be willing to share some of your Ohio team's contact info? I am a WA investor looking to make some investments in both the Akron and Columbus areas but I am working on putting together a team (contractor, inspector, broker, attorney, etc) I am looking for some referrals from people that have actually had good experiences.

Great job Jen! I am new to REI and looking at the Akron area now so this has been awesome info. I am in the process of setting up a team of local professionals (prop Mgt, attorney, broker, etc) and working on a couple acquisitions. Good luck and my compliments on a great job!

Great report! Lots of detail that makes it useful and relatable. Congrats on the deal and thanks for the post