All Forum Posts by: Drew Sing

Thanks @Bob Malecki just messaged ya. 

Cheers, 

Drew

Hey Everyone, 

I'm about to purchase a SFH in Kitsap, and was curious if anyone had any other honest and fair contractors that they recommend.

Thanks so much,

Drew

Much appreciated everyone. Yeah, I feel BP is the best resource I've found so far (thanks for those links @Scott Choppin, I've read through most of those posts they're excellent, some of the best resources from anywhere on the web). 

Just seems odd there aren't other quality sites/resources. I'll check out ULI.org @Marshall Downs thanks!

Hi @Tammy Spearman, 

Learning about liens, and your unfortunate case has been an eye opening example. 

What ended up happening with the property?

Thanks, 
Drew

Hey Everyone, 

I've been googling to try and learn more about RED, the permitting process, and all things related to getting land to a state for development, but have found a lot of the resources lean heavily to more traditional strategies (eg. rental properties, fix and flips).  

Which leads to my question: What are the best online blogs/resources on real estate development that you've come across? 

Thanks!

Drew

Thanks @Jeff Filali and @Pavan Sandhu for your thoughts much appreciated!

Hey Everyone, 

My parents live in a SFH on 5 acres, and were wondering if they should sell the home and land as is, develop it, or take an interim step to try to get a bit more value out of it as it's their retirement savings. It's a property with some potential that I'd be grateful for feedback on from the BP community.

The 5 acre property

The property is located in an appreciating area outside of Seattle, and within walking distance of the town center. The SFHs surrounding the property are selling for 300k to 400k. Their land's zoning is Residential Medium (6-10 units/ac). They may be able to get higher density rezone as nearby development is 11-14 units/ac. 

There are a few unique variables since as of now, their single home sits on all 5 acres. A 70m single driveway (with existing homes on both sides of it) connects to the entire lot (similar to the shape of Oklahoma), which means a proper 2 lane road would have to be developed from the opposite side of the property for access to subdivided lots. This side has a slope (road would need to be scoped/approved by civil engineering firm I believe) whereas the rest of the land (approx 80%) is flat. 

Initial research

From my basic research (Talked to a couple REDs and surveying companies), there seem to be 3 main paths my folks can go:

1. Sell the land as is. 

2. Develop it or partner with a developer (most $, most time). 

3. Spend some $ on a high level feasibility study to show further evidence of property's value (eg. no wetland, environmental issues, etc), then selling it for more than point #1. Not perfectly clear on the steps of this. 

4. Your thoughts!

I've been trying to digest as much RED knowledge as possible lately (no prior exp, but really enjoying it all), and am thinking of helping my parents with their property. As someone who was planning to invest in RE properties myself this year, my parents have asked for my assistance as we both realize this is potentially a bigger opportunity if I spend my efforts and $ on it. I'm leaning toward point #3 above, but would love to hear your thoughts. Time is not an issue at the moment, so we'd be open to #2 as well. 

Thanks so much,

Drew

Thanks @Neil Goradia! Will DM you from here. 

Best, 

Drew

Hello BP Indy, 

My name's Drew, and I’ll be making my first trip to Indy Aug 18-20 to learn about the city and hopefully purchase my first REI. Open to meeting with like minded professionals as I want to get the most of my experience. Excited to be taking action - Been learning a ton from these forums so big thanks to everyone here.

I’ve been working with Erin Donlan, who’s been helpful in educating me about Indy, and had a great lunch here in CA with Tyler Jahnke on his detailed turnkey experience.

If you’d be interesting in meeting and discussing Indy real estate, don't be a stranger.

• Other REIs, Property Managers, Handymen / contractors, sellers or brokers. Whoever you are, I'm open to potentially meeting up. 

I've begun making offers with the current goal of purchasing two cash flowing SFHs by the end of the year. Aside from REI, I'm an avid hiker, enjoy traveling (lived in Australia for two years), and am a sucker for good BBQ.

Hope to be in touch soon. Thanks everyone!

Drew