All Forum Posts by: Dakota Mivshek

Question on Gifts and taxes. I have a client, whom has parents willing to gift ~$100k. I understand that the annual exclusion per year is $14k; could you help me understand what this estate tax lifetime exclusion is all about. Could they avoid paying taxes on the $100k if they put it towards the estate gift tax exclusion?

@Derrick Aragon @Account Closed Thank you both for the insightful information. I really feel like I learned a lot here! It'll help when speaking with the client and personally something I'll be looking into down the road when I can find a place of my own (which i'm trying to now!) . And when that happens i'll be in touch to speak more about stick built options or basement conversions. 

I'm basically trying to ascertain whether it would be cheaper to do something like this with the modular home or to build a stand alone from scratch/finish a basement for ADU purposes.

Thanks all... so let's just say the permitting gets easier and they are nice units. What is a ballpark cost on a foundation for something that is 500 sq. ft. and then making sure it has a working plumbing system?

Hey @Account Closed, 

Really appreciate your response! Very helpful. This particular company advertises that they will set up the foundation, but as you've laid out, there will be plenty of add'l hoops to jump through. 

In terms of getting in contact with someone in the city to speak to if further questions arise, is there a number or contact that you have had the most luck with? Maybe just the general permit line

Hi All,

As an agent I'm working with a client that had an interesting idea about an ADU. Of course I'm not at liberty to consult him on whether it would work well or not, but it got me curious. There is a company out of Canada called Honomobo that makes live-in ready studios/1 bedrooms ect. out of old shipping containers. I've read the ADU guidelines on the city of Portland, and don't see how one of these wouldn't work. Outside of permitting and plumbing, what else would have to be considered when putting something like a Honomobo on a residential property?

Best,

Cody

@Bob Derwin according to agent the building plans are done and 90% through the city, just waiting on permits. The land and plans are a package at $700k. Then there are recommended builders in line behind these plans. 

Here is one for you - any help much appreciated. 

Scenario - off market land deal. $700k for the land and the "plans". Estimated construction costs of $1.3m-1.5m. 9 units that can be condo or apartments. The condo's would sell for ~$325k/each. 

How could one approach this? 

1. How could I use other peoples money for the $700k?

2. They say the plans are 90% through the city almost ready for permits. Any red flags here? Why would the sellers decide to sell now?

3. And with the plans, what is next? I assume I have to use those plans to find a builder? 

4. The $1.3m-1.5m would be a construction loan correct? Interest only. 

Hope that helps get some feedback!

Best,

CM

@Jay Hinrichs THANK YOU for spelling that all out and allowing this discussion to continue. Much appreciated. I will look into that. 

Thanks @Jay Hinrichs . In terms of getting on one of the top producing teams, how do I go about getting on those teams?