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All Forum Posts by: James Grasty

James Grasty has started 1 posts and replied 8 times.

Post: Building in Bakersfield

James GrastyPosted
  • Investor
  • Ventura, CA
  • Posts 8
  • Votes 0

Its pretty straightforward in Kern and Bakersfield.  

Bakersfield

R2 = One unit per 2500 sqft

R3 = One unit per 1500 sqft

Kern County 

R2 = One unit per 2750 sqft 

Side setbacks are as little as 5 feet

Back yard setbacks range from 10-15 ft 

10 feet between building on the same lot 

Parking requirements are the most important to keep in mind since parking takes up lots of space; on space for studio and 1 bed, 2 spaces for any dwelling unit 2 bed and above with at least one ADA space for the property

Hope that helps

Post: Building in Bakersfield

James GrastyPosted
  • Investor
  • Ventura, CA
  • Posts 8
  • Votes 0

haha should have known you would be on here @Amber Smith .  I'll DM you some more info

Post: Building in Bakersfield

James GrastyPosted
  • Investor
  • Ventura, CA
  • Posts 8
  • Votes 0

@Rich A. - Just in the design and permitting process now, a burnt out house sit on the lot right now.   

Shoot me a DM and I can shoot you some contacts. 

Post: Building in Bakersfield

James GrastyPosted
  • Investor
  • Ventura, CA
  • Posts 8
  • Votes 0

I'm currently building a triplex on the east side of Bakersfield.  It's looking like it's going to cost me $108/sqft all in (not including land cost), as the other poster said, it's a bit more expensive these days and harder to find a contractor thanks to a building boom and sky high lumber prices.  But don't let that deter you, it can be done profitably, just need to shop around for a good contractor.

let me know if you need any contacts for builders 

cheers!

Post: Lender of Foreclosure is purposely withholding Payoff statement

James GrastyPosted
  • Investor
  • Ventura, CA
  • Posts 8
  • Votes 0

Hey thanks a lot for the info everyone, I will try to get the lender on the phone and threaten to file a complaint (Thanks @Ron S. ) and I have not come across any info on an auction date so I assume it is not that far along in the process and we may have more time than I think. 

I could buy it at auction if that comes up, I am not that liquid but know some hard money lenders I could tap if need be. 

Cheers! 

Post: Lender of Foreclosure is purposely withholding Payoff statement

James GrastyPosted
  • Investor
  • Ventura, CA
  • Posts 8
  • Votes 0

Yeah @Andy Mirza that is what I thought, escrow has been just sitting around waiting for them to send the pay off statement to close the deal since the beginning of June.  It is a smaller company that is in chapter 11 for the 2nd time in a just the last few years, so that may be part of the issue.  

They also may have sold the loan to another party, I am not clear on that but the escrow company acted like it took more digging than normal to find who had the loan and then of course order a payoff.  They have told me "they are waiting in line" for the payoff behind other parties, but I feel like it does not work like that. 

Anyways, I will be speaking to a lawyer about this to see if they can help put the screws on them

Cheers!

James    

Post: Lender of Foreclosure is purposely withholding Payoff statement

James GrastyPosted
  • Investor
  • Ventura, CA
  • Posts 8
  • Votes 0

Thanks for the input, I will start looking for attorney's 

Cheers!

Post: Lender of Foreclosure is purposely withholding Payoff statement

James GrastyPosted
  • Investor
  • Ventura, CA
  • Posts 8
  • Votes 0

I have a predicament and did a search, but could not find anything dealing with this particular situation.

I am purchasing a home in foreclosure from a friend and am buying it via a new first mortgage through a escrow company.  The issue is that the existing lender is purposely withholding the payoff statement (over a month now) so the home can not closed and be sold.  The home has a substantial amount of equity in it (Owes aprox $70k worth $150k) it would seem the lender would rather drag their feet to try to complete the foreclosure.   

I have been told that they can not by law withhold a payoff statement, so what can I do to get them to release it and help the sellers get left with nothing? 

Your help is greatly appreciated

Cheers!

James