All Forum Posts by: James G chandler

I live in San Jose and I am interested.

Yes I have been looking into all those things for Portland, San Jose and San Francisco. The parking and maximum unrelated people is different in each location. Some cities like San Jose don't have a group housing regulation, 

but in SF it is 5 unrelated and Portland it is 6 unrelated, unless you get a permit for group living.

There are about 10 co-living companies in this area.

check out thehubhaus.com and starcity.com as 2 big ones

also the Forge in portland is run by Opendoor which is based in Oakland CA, 

http://opendoor.io/the-forge/

But do you think that overall it is a good idea? 

Can  you get permit services to help you with these questions?

What is wrong with converting apartment buildings to co-living buildings. You convert living rooms into additional bedrooms and make the overall rent more affordable for people that don't mind sharing a bathroom.

I went and looked at thehubhaus.com here in san jose, and they are rapidly expanding in the San Francisco bay area, with over 100 houses. Starcity.com has converted several downtown SF buildings and has a waiting list in the 1,000s. They are also expanding into Venice Beach in LA.

If you took a 5+ unit apartment and changed it into a co-living building. The maximum bathroom ratio is 4 to 1, so you could convert most living rooms to bedrooms. This would seem to be more profitable than regular rentals. What is wrong with this idea?

I am looking into creating co-living business similar to thehubhaus.com or starcity.com.

How effect are permit services for advice on converting sfr residences or buildings to sro type buildings?

Where or how can I find out about buying a 10-20 or more room SRO?

Or converting an existing house or building?

That is for sale or might be for sale in California, also specifically the SF bay area or LA ?

Okay okay I just want to focus on LTV first meaning the down payment. Let's assume this experienced real estate investor has 300 properties and has been doing it for 10 to 20 years. I would assume by now that they that new deals are done in cash, because there has been significant appreciation over that time. So they would probably be in a very good positive Equity position?

So also over this time they probably have some great relationships with banks or other investors, and if built up a great track record of no defaults on loans.

Or if they had defaults they would have been in the first five or ten deals before they got going. So now if they go to a bank or some other investor it would seem to me that they could get 10% down 5% down or something similar, because they have a proven record over the last 10 years on hundreds of deals, of 0 defaults? Why wouldn't they be able to get 10% down?

Also I'm assuming they be able to get fairly good interest rates around 5% or so?

I wouldn't assume that this experienced investor could also just get a regular commercial loan at typical rates 10% down and 5% interest rate. assuming again they have proven to this lender in the past that they are extremely low risk?

I am a licensed financial planner in San Jose with 16 years experience. I have developed an startup RE proposal and I am looking for an experienced RE investor. I have talked to someone who is a partner in a RE rental business with 500+ properties. His Linkedin page does not mention real estate experience. He wanted a business plan with a set of assumptions to give to his partners.

I want to submit a complete business plan, that shows I have thought everything through.

Can I assume that an RE company with 300+ rentals, has experience with flipping, a variety of financing strategies, with an ability to get 80-90 LTV. What area might they be weak in? What should I not assume?

I am a licensed financial planner in the San Francisco area with 16 years experience. I have developed an experimental RE investing model and I am looking for an experienced RE investor. I have talked to one RE investor with 300+ rental properties. He wanted a business plan with a set of assumptions.

I want to submit a complete business plan, that shows I have thought everything through.

Can I assume that an experienced RE investor with 300+ rentals, has experience with flipping, a variety of financing strategies, with an ability to get 85-90 LTV.

What area might they be weak in? What should I not assume?

I live here in San Jose CA and was thinking of buying a rental here or in Sacramento. I have read about some cities limiting the maximum unrelated renters. 

Austin TX had a problem with Stealth dorms and changed the limit from 6 to 4 in some downtown areas, and also San Diego had a problem with mini dorms and so you have apply to have 6 or more adults 18 and over in a SFR, and prove you have adequate parking.

I have read about the 2+1 law as a general law for California, meaning a 2 bedroom house could have 5 people, although this is just a general guideline. I understand most of these laws don't apply to families.

Most city websites in California don't mention maximum occupancy limits. Do I have to call each city or go in person to find out these limits?