All Forum Posts by: David Maldonado

The reason I don't want to use a construction loan is to avoid the headache and pre-approval process and extra costs associated with working with a lender, not to mention that most lenders require a licensed GC. I can avoid all of that and be in complete control of the build by using my own or private funds.

I'm still a little guy in the game, so I do as much of the work on my builds as I can to save on labor costs. Plus I built 2 of my ADUs simultaneously, in under 4 months. GCs in my area take up to 6 months for a similar build.

No, I'm planning on taking the GC license exam sometime early next year. I am aware of those limits for owner builders, but that only applies to selling a new build correct? I don't plan on selling any of my future builds. I want to BRRRR with new construction.

Has anyone had experience being an owner builder and built from the ground up on vacant land while using cash or private funds to fund the entire project, and then get a mortgage (getting all money invested back) and repeat? I'm pretty much describing the BRRRR method using new construction.

I figured, why compete with everyone else on a house that's more than likely going to need a renovation and pay above asking price? have built ADUs, all in, for $85-$95 per square foot per unit. I have done extensive research on the permitting process and all soft costs associated with predevelopment costs.

I'm looking at $40k-$60k on predevelolment costs

$100-$150 per sq ft for construction build. There is land with all utilities included in my area under 300k and 1200 sq 4 bed 2 bath single family comps in the area go for around $700k.

i want to build a 1200 sq ft single family home, 1200 sq ft ADU, and a 500 Sq ft JADU.

one of my propertys has both a jadu and adu and it appraised a little over a million (would be worth around $550k without the units).

With the numbers I've ran, its a no-brainer to go owner build, but I haven't taken on something this big. Just would like to hear anyone's experience and thoughts on this.

Thanks!

So my city will consider an ADU DIY kit build as a manufactured home. Still waiting on a response from building about the shed conversion.

Hey everyone,

has anyone tried to buy a large tuff shed or steel home kit and turn it into an ADU? There are tough sheds as big as 2 stories and 1000 sq ft. I also saw that home depot has a bungalow style 1000 sq ft steel home kit and it specifically mentions ADUs. According to the description is that they will design the unit in accordance with your local code. This can be a game changer for me because I am an owner builder and I only sub out the work for the structure. Once the structure is up, I diy the rest. I'm calling the city on Monday to ask but I'm just curious if anyone in California has tried it.

As far as construction and blueprints costs go, I can build each unit for around $140 sq ft (basic finishes) but I'm still in the process of calculating soft costs (permits, fees, school taxes, impact fees etc.). I have a contractor that I've worked with and he qualifies as a VA builder. I know that number seems low, but I also built 2 ADUS last year when prices were high, as an owner builder for $78 per square foot, all in (only subbed out the build of the structure and did the rest of the work myself.

Regardless, it will still be expensive but 40 year 4plexes go from 1-2 million depending on the size of the units.

 As in getting a Va new construction lender to loan me the funds for the build because I heard that new construction loans are difficult to get.

Hey everyone, i want to use the va new construction loan to build a quadplex with 4 bed 2 bath 1400 sq ft and a 34x24 garages per unit. I'd basically want to house hack a new build. 

i know this would be really tough to sell, but would i  increase my chances if i came up with a solid plan? I'd include

land info

if the city will allow it

all preliminary costs before the okay to actually start building

cost of construction 

length of construction 

contractor info

comps in the area by sales and income approach due to it being multifamily.

market rents comps

and basically a price for the entire project from start to finish.

I'm coming up with a plan so i can start contacting lenders....especially if my offer doesn't get accepted haha

https://www.cityofsantamaria.o...Hey everyone,

I am thinking about using a new construction/renovation loan to convert a single family house into a duplex (new construction) and build 2 detached ADUs. I want to figure out every single cost associated with getting the building permit. I want to know how to calculate the cost of a building permit, how much in development/impact fees, school taxes, encroachment permits (and any other required permits) and any other required fees. Basically, I want to know how much is it going to cost me before I can even start building anything (soft costs) so I can see if the numbers work.

Project Information

Single family house with at least .50 acre lot

Convert sfh into 6 bed 4 bath (2000 sq ft each unit)

Total: 12 beds 8 baths (4000 sq ft)

I already have the permit and fees costs for the ADUs.

I asked the city on how I can get all the possible costs for a new construction project and she sent me files with a breakdown of costs but I have no clue how to use it! Hoping that someone familiar with the process can be of help!

Thanks!

https://www.cityofsantamaria.o...

https://library.qcode.us/lib/s...