All Forum Posts by: David Frandsen

@James Baldwin I would subtract out commissions and closing costs and show him how much cash he will walk away with if he sold with an agent. Then show him how much he will make if he sells to you with owner financing. 

I love how Brent Daniels breaks it down in this Youtube video: 

One of the concerns I have for clients purchasing a tiny home: (And I'm seeing this play out right now and can update later if it becomes an issue). Disclaimer: My expertise is with ADU's... A client came to us and had already bought a tiny home and is basically completed. The problem is the manufacturers do not help the client go through the permitting process for their jurisdiction (you need permitting to get the utilities run to the tiny home site and to get the occupancy permit). What happens when the city rejects the design because the siding is not properly fire rated (this is just one example). Is the manufacturer going to guarantee it will pass the permitting process? If so good on them. My fear is they are already paid in full and they will not be around to back their product when the permitting process goes sideways. Tiny home manufacturers please chime in and relieve my fears on this.

I think Brent with TTP explains it really well in his youtube titled: 

How To Come Up With Your Offer Price | Brent Daniels LIVE

I'm no pro but essentially you need to find comparable sold properties in the area that are fixed up to establish an ARV. Then you work backwards to establish your offer price. In my market I will look at comps in the last 6months; +/- 200sf; within 5 years of year built; single story to single story ect.; stay in the neighborhood.

@Javier G.Attached ADU is an option. One thing i've seen some cities allow is making that attached garage a JADU (of course this requires owner occupancy of the property). But what this can do is still allow you to do a detached ADU later. If this route is not allowed in your area then a garage conversion to ADU is the path for you. You will want to budget the hard costs (build price per sq ft. $200/sq ft for example) as well as the soft costs (permitting 6k; design fees 8k; water/sewer fee 5k; ect)

@Maxwell Ventura team is super solid. If you have any ADU specific questions i'd be happy to help.

@Matt Devincenzo has it right. 2 detached ADU's are allowed on multifamily zoned lots. Some cities interpret that to mean even if it's zoned single family but the lot has mulitfamily as the current use (in other words it got rezoned at some point) they will still allow the 2 ADU's. It gets a little gray but in short 2 ADU's for Multifamily.

@Olu Lijadu Deals are not easy to come by in this market. That is why I have chosen to get into direct-to-seller marketing and drum up the deals myself. I'm new to it but happy to share what I know. 

@Greg Gaudet Great deal! Curious how long this took: "Working with my engineer to obtain a LOMA from FEMA to get the house removed from the flood zone (which will save us $350/mo in flood insurance, and increase cash flow by 350/mo)" 

@Ian Sans I have not specifically heard of companies doing a joint venture. I'm happy to share ADU knowledge though.