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All Forum Posts by: Charles Lee

Charles Lee has started 2 posts and replied 12 times.

Post: Accessory dwelling units

Charles Lee
Pro Member
Posted
  • Investor
  • Torrance, CA
  • Posts 14
  • Votes 6

Hey @Art Marquez, I went with an earlier suggestion and haven't mentioned anything to the city/SB county. I have other properties in SB counties that had unpermitted ADUs prior to me purchasing it. At that time, they didn't say anything about having to get them permitted.

Post: Accessory dwelling units

Charles Lee
Pro Member
Posted
  • Investor
  • Torrance, CA
  • Posts 14
  • Votes 6

@Paul Skikne Thanks for that information and advice. After talking to my contractor, he said its a "better to ask for forgivness then permission" situation. I'm going to leave it alone for now.  

Post: Accessory dwelling units

Charles Lee
Pro Member
Posted
  • Investor
  • Torrance, CA
  • Posts 14
  • Votes 6

@Teri S. Thank you for the advice! That's exactly what I plan to do.

Post: Accessory dwelling units

Charles Lee
Pro Member
Posted
  • Investor
  • Torrance, CA
  • Posts 14
  • Votes 6

I bought a house that has an unpermitted accessory dwelling unit in Loma Linda CA. The unit us very well done and I'm wondering if it's possible to get It permitted or if it's even worth the trouble.

I know ADUs are allowed in this area but we need a permit to build one. Since this one is already built, I'm scared that if i start down this path to getting it permitted, the local authorities are gonna bite me.

Anyone have any suggestions?

Post: Redlands Real Estate Investment Club Monthly Meetup

Charles Lee
Pro Member
Posted
  • Investor
  • Torrance, CA
  • Posts 14
  • Votes 6

Hey guys! I'm sorry I missed this. How'd everything go? Are their plans to do another?

Post: New to BP

Charles Lee
Pro Member
Posted
  • Investor
  • Torrance, CA
  • Posts 14
  • Votes 6

@Mike Sola so what's the plan? What do you mean you're going to dive right in?

Post: New to BP

Charles Lee
Pro Member
Posted
  • Investor
  • Torrance, CA
  • Posts 14
  • Votes 6

@Michael Sato thank you

Post: New to BP

Charles Lee
Pro Member
Posted
  • Investor
  • Torrance, CA
  • Posts 14
  • Votes 6

@Michael Lee please excuse my late reply and thank you for all the great advice!

Post: El Paso Rental Market

Charles Lee
Pro Member
Posted
  • Investor
  • Torrance, CA
  • Posts 14
  • Votes 6

I know im super late to this conversation but thought id add a little something for those who stumble upon this thread in the future. 

I've lived in El Paso for nearly 6 years (2012-2018) and have one rental property there. The advice i've read above seems spot on. Personally, i'm an optimist and believe there is opportunity everywhere-this includes El Paso. However, the thing that concerns me is the current state of supply and demand. Its definitely a renters market right now. There was a surge of homes and apartments that's been built starting in '09 and hasn't stopped since. Many soldiers are guaranteed a VA loan and more often then not, paying a mortgage is cheaper then the current rental rates. This has lead a lot of military soldiers to invest in homes that they later rent out when they change duty stations.

The newer neighborhoods on the Far east side are beautiful but it seems they start to deteriorate once the original owner moves out and new renters come in. Its barely noticeable at first. It starts off with one or 2 homes but as the years pass it becomes half the neighborhood with "for rent" signs in front and the weeds begin to sprout up.

With that said, I go back to my original point where there is money to be made. 

Post: Officially Financially Free at 32 !! - Exciting Day!

Charles Lee
Pro Member
Posted
  • Investor
  • Torrance, CA
  • Posts 14
  • Votes 6
Good for you man! Congratulations! super happy for you and your wife.