All Forum Posts by: Chris Blackburn

There are a number of business plans out there for this type of model:  https://residentialassistedliv...

We have a HUGE mansion 17,000 sq ft in our small town that could support a number of people but it is zoned single family (Soon to allow up to 4 units on it)   Oregon may be a great place for this.   A main home and then 3 of these put to the site?  boxabl   They only cost $250 a month and figure $40K-$75K for the infrastructure, SDC's and incidentals-  Great way to house hack and ad rent revenue.

https://www.boxabl.com/reserve...

I think I am going to reserve 3 or 4 of them.  They would rent out in my area for $700-$1000 a month. 

@Samuel S.  What prefab companies are you looking at?  Another option is panelized since you would be replicating the same product, same foundation, same floor system, same truss system.   I have been lookin at www.treenada.us but they are a local company doing builds around Oregon and Washington. I am looking at Boxbabl.com  Since Oregon is allowing ANY single family lot to be turned into a 4 unit build site.  The problem with 4 units is many cities will require a fire suppression system that adds $$$ to the bottom line.  VERY few construction companies are preparing for this opportunity so please do not tell anyone;)

Bring your team to the Pre-App meeting  (Now done via zoom in Oregon)   The team should be your civil engineer (hopefully local w/ experience in with the agencies)  (they have experience and can let you know when the difference between what is required and what the city/county is trying to get you to do)   Get as much data from the Civil as you can before hand- sewer location/distance, storm water, electrical, gas, roads.  Have these ready and even have your engineer do a few trail layouts.  This is a great place to build your team- invite your RE, survey, architect and potential excavation company.  You get to see how they work and if they are their to build relationships not just a job.  (if you plan on doing more of these)  You are only as good as your team since no one can do it alone.

@Steve Mandelbaum @Matt Whitney I am going to have to go with Matt in this one. Gold is great until you need to move it. Yes you should still own it. Bitcoin and crypto are just being legitimized and accessible to regular humans. PayPal, square, Robinhood now make it as easy as clicking a button to own. Goldman Sachs is biting, old insurance is buying. Ask any Venezuelan if having bitcoin as 5% of their wealth would have helped them. - Let me get my aluminum helmet for 1 minute. I think all US paper currency will be outlawed in the next 3 years (some story about the Chinese selling $ quality printing presses to N Korea that make better currency than we do). All cash turned in for digital dollars- (scary). (Remove helmet). I am back- Propert will be inflation resistant and will take care of you if you are not over leveraged.

LIHTC convert to affordable housing.  They may be able to offer $200,000-$300,000 a door to convert.  3 story  30 units.  Since it is affordable housing your rent is guaranteed.    (This is a long unlikely walk- but fun to imagine) 

Technology Convergence

I think the parking lot days are limited-  With autonomous vehicles- things are going to change in the next 10 years.  This book as a bit of a guide.  We are designing apartments around the fact that parking lots will become gardens, green space, available building space, solar or ?

I have been looking at a hybrid model that takes the project into 2 parts. The cost of building is getting more expensive.  We can allocate a portion to the affordable housing and utilize this to support the infrastructure for the market rate product.  This creates a blend of housing and helps contain some of the costs.  I have seen some Portland projects come in at $350,000+ a door and have also seen some Salem projects projects at $175,000 a door.  I think by adjusting some of the fees that could be attributed to a a affordable housing project (Developer fee) (lower) the reduced cost toward total infrastructure requirements would be reduced.  Additionally, having a team that understands the nuances, paperwork and process is a requirement.  

Took me 1.5 months to read- BUT this was GREAT considering what I was doing-

https://www.amazon.com/gp/prod...

@Angela Yan  I agree- I am excited about engaging with land owners and bring them in a partners in my future projects.  By contributing my development fee and bringing in some of the major subs as part owners I can mitigate risk.  By building on these flat sites and using the same plan- This becomes almost boring but incredibly repeatable.   My next secret weapon will save me time and money.  www.treenada.us      I have to say thank you to BiggerPockets, the community here is amazing!  Lucky to have people like you and the others for support, wisdom, experience and feedback!

@Steve Morris   We start building in Jan.   

We put in an offer on some church owned property off of State St in Salem (Marion County)  it was split zoned  (RM and Single family)  - It took 2.5 years to allow us to do Multi family (despite a huge need identified by the county)   We had to peel off 10 lots (That means build them @ $50K in cost)  around the exterior.   These have already been sold :) and we start on the apartments in Jan.  The units in Keizer were started on April 29 and we got occupancy on Dec 5th!  I like the speed of my team!.   The 40 units is a bit larger so I assume it will be like a baby- 9 months!.  We will be doing a modern look and I think the houses surrounding it will be modern as well.