All Forum Posts by: DJ Cespedes

Hi Jason, 

I would recommend Ed with DEX Facility Services. I have worked with him on a few occasions, and he does good work. Very friendly as well. If interested, just inbox me, and I will send along his contact info. Good luck! 

DJ

Hi @Kathy Henley,

All great tips and very helpful! Thank you for that insight. I'll also be sure to check out Darrell Sutton's material. Much appreciated. 

Hey BP Fam,

I am hoping to get some advice from the community on this matter. 

Some colleagues and I are planning to form an LLC for Real Estate Investing. We plan to start off with flips to build up capital in the early stages. We are figuring out the best strategy for structuring. We have looked into Series LLCs, and will likely explore that down the road as our assets grow, however for now we decided that it makes sense to start off with just a standard LLC. We plan to initially focus our investing in more affordable markets, with a lower barrier to entry; which is why we are not considering forming the initial LLC in CA.

That said, I would love if the community could share some insight on Where and How to structure the initial LLC (keeping cost, asset protection, and anonymity in mind).

Looking forward to getting your thoughts. Thanks all! 

DJ

Hi John,

The BP fam can correct me if I am wrong, but I do not believe that you can do an owner move-in eviction for tenants in a protective class. Typically you can do a owner or relative move in eviction, but you must pay the tenants a relocation fee. 

Protected tenants are an exception in that if they have been in the unit for at least 5yrs, are over 60 years of age, and fits certain disability criteria, then a landlord cannot do an owner or family occupied move in. 

@brian pulaski Thanks for the tips. Yours does compliment well! I started to do a darker shade of gray also, but I had too much gray going on and wanted to try and branch out. I ended up doing a dark walnut stain for the front door (both interior and exterior) and switched out the door hardware to a dark bronze color. I think it looks ok for now, but if after a while I don't like it, I can just sand it down and try something different. 

Hey BP Fam,

Hoping I can get some input from you all on what color to paint or stain my front door. It will ultimately be a rental property (Oakland, CA). The flooring is a light Oak colored LVP. The walls are Agreeable Gray. Should I stain, or paint the front exterior door? And what color or stain should I go with? I want a nice neutral color that will match the paint and flooring and help spruce things up. 

I have attached some pics of the front door. I was initially going to purchase a fiberglass or steel door, but figured it would be more cost effective to just work with the door I have. It seems to be a decent quality wood so no point in wasting it. 

Look forward to hearing everyone's thoughts!

DJ

Hey BP Fam,

I just purchased a property that consists of a main house and a detached studio in the back. For now, I plan to live in the main house and rent the studio out right away. In the next year or two, I will move out of the main unit and rent that one out as well. So it will be a full on rental property. 

That said, I am currently deciding which color to paint both units. As of now, I am thinking that I will paint the kitchen, bathrooms, trim, and ceilings a Swiss Coffee White (Kelly Moore) and paint the living area and bedrooms walls a light shade of Gray. 

I picked up some samples of "Gray Ghost" and "San Francisco Fog" from Kelly Moore. I was wondering if anyone had any experience with these shades and can share some input and/or pics. Im also happy to get any recs on shades you believe may be better. I want a light gray that will open up the space and match  the floors, which will be a light sand-oak color (https://www.lumberliquidators.com/ll/c/Sandbridge-Oak-Engineered-Vinyl-Plank-Flooring-CoreLuxe-EVPSB5/10041438). 

Look forward to getting your thoughts. Thanks! 

DJ 

@Account Closed This is what I needed! Thank you! 

Hi All, 

I have been putting in offers on Multi-family units in Oakland, CA for the past few months now without much luck. Im using FHA and my offers have been beat out with Cash or Conventional offers outside of my budget. Given my current budget, im at a disadvantage when competing for multifamily units, so im rethinking my strategy.

I have now been looking at SFHs with ADUs, bonus spaces, or spaces with potential to be converted to an ADU (ex: garages); although I would prefer a home with an already built ADU as that would save money in having to convert. I have come across several SFHs that fit this bill. The issue is, many of the homes I found with ADUs are done without permits. I do not want to run into an issue where I buy the home and then im unable to obtain the permits, or have to tear down the unit because it is non-conforming.

I also dont want to run into an issue where I purchase a home where there is a nice size garage only to find out that I cannot legally convert it to an ADU for a variety of reasons.

I have called the County Planning Dept, but they were not much help in providing any clarification. In fact, they probably just confused me even more. 

If I am unable to obtain traditional income producing property (duplex, triplex, fourplex) right away, then id like to get something that can still produce income and eventually cashflow. Aside from income, I also want to build equity in my property which is another reason why I am considering properties with potential to add a legal ADU or get retroactive permits for non-permitted work previously performed.

Does anyone here have any experience with homes with non-confirming units, or converting space into ADUs?  Should I just steer clear of properties with non-permitted units? Any insight would be helpful.

Thanks! 

DJ 

Hey Carlos!

A pleasure to meet you! Ecuador is currently one of my top choices so If you could get back to me at your earliest convenience on the mortgage question that would be great! 

Also, any insight that you could provide from a local's perspective would be great! I'd also love to get your thoughts on what cities/town would be ideal for a vacation/rental property and for a high return. While I prefer coastal cities such as the ones you mentioned, I was also considering Cuenca and Guayaquil as well since they appear to be pretty popular cities to live in and tourism. Would you recommend either city or would it be best to stick to coastal areas?

I'll have to plan a trip there soon to get a lay of the land. 

Thanks! 

DJ