All Forum Posts by: David Jarvi

I recently talked with http://www.crowncontractingonline.com/ and was impressed with them.  (not the cheapest out there though).

I also have been super impressed with Dave Mcadams with  HomesteadModern.com

he actually built a house specifically designed for folks who wanted 725 square feet house

overall, having been down rocky unpaved road trying to do it myself. I feel like you really need someone who has the entire operation under control and ultimately save money with

Design plans

Perc Test (soil testing) 

Title 24

Structural Engineering

6 examples of a 1 door deal, I am too greedy not to pursue

buying 1 door  non-occupied w/ cash at trustee sale for 60% on the dollar is about as good as it gets. (the trick of course is knowing that it's 60% of it's value)

buying 1 door from a wholesaler and listing on the MLS for 20K more a day later.

buying 1 door property fixer, as a live in flip, selling 2 years later using Sec 121 of IRS code to avoid ANY TAXES (state/local) 

buying 1 door at near retail, live in for 2 years, rent as Airbnb for 2 years & sell to an Airbnb buyer/business with established P&L statements

buying 1 door on a 40 acre parcel that is zoned for multi-family

buying 1 door that comes with another lot, sell at the same price you paid and get the lot for free.

Cardone has a TEAM OF PEOPLE who look at 50+ deals to find 1 deal, spends 30-40K (he said recently on a podcast) investing into the deals he really wants...

That's not a headache or hassle at all! ;)

10 Ideas on CPA's 

1. Interview, Interview, Interview CPA's - these sessions are free  (do this in the summer when they are not busy)
2. Most CPA firms (and all consulting firms) SELL YOU with 1rst team, Service you with the 2nd team.
3. Millionaire guy once told me he pays 2 CPA's each year to do his taxes - the returns are always different he said. Crazy right?!
4. Some CPA's can be more aggressive than others (this is because they take on "Audit liability" - most CPA's don't want ANY TROUBLE.
5. Turbo tax deluxe offers return/audit protection for ~$150 and then maybe you can pay $200/hr for consulting/auditing on that return.
6. Find a CPA who will audit last year returns (you can go back 3 yrs as I understand) (why not offer 10% of everything can get  you.. in addition to $250)
7. The TAX STRATEGY SESSIONS (as Brandon Hall) highlighted is where the GOLD IS. These can be done with ANYONE (other investors, lawyers, realtors, etc..)
8. a Millionaire told me he buys this book every year >> US Master Tax Guide - 2018 cost me $100.https://www.amazon.com/gp/product/0808047744/ref=o...
9. Give up on the idea that CPA's are going to "creatively" solve your problems. Kiyosaki said on a CD that he comes up with creative ideas and then hashes it out with his black/white thinking CPA
10. Setup an alert on Bigger pockets for tax related topics you want to learn about!  hehe

Michael:  I paid $500 bucks for some remodeling plans (yucca valley architect who is quas-retired) and he connected me to engineer/ and Title 24 guy  (new construction also requires soil test engineering and sometimes water flow testing for the water district)

but I think 1000-1500 is probably  low end and 3500-5000 is high end

I'm working on a hew house in pioneertown and I'm interviewing builders/general contractors (who have plans in their archives that were approved) -many plans approved in 2015 aren't valid.. because of the Title 24 increases every year and the 2016 code

Nathan: exciting. yucca NEEDS some new apartments!

I'm researching what it means to be an Owner/Builder in CALIFORNIA and came across this website:

http://www.cslb.ca.gov/Consumers/Building_Official...

• 1) Owner/builders NEED a contractor license if they "Intend" to sell   (no time given) (4 property max yr)
• 2) Owner/builders DON'T NEED a license IF they IMPROVE a property and then complete the work sometime after residing in it for 12 months. 
• 3) Owner/builders DON'T NEED a license IF they build a NEW HOUSE and live in for 12 months after (2 per 3 yrs)

It seems like if a landlord wants to improve properties he/she owns, it is ILLEGAL unless

• non-permitted work (like painting, flooring, fences no higher than 6 feet, etc.. I believe)
• have lived in any of those houses for 1yr, or currently living in the property for 1 yr)

The real question I guess, is what is permitted v. non-permitted work RE: local city/county/state codes

Moral of the story for ME: finding a good contractor is as important as finding a good deal.

--I'm no expert--

Heloc is not a bad idea. seems like the most straightforward.

1) I just attended a real estate training and a lot of the old guys/gals all seemed to find an investor with deep pockets to fund their deals.  (since the problem will not go away if you do heloc)

2) Find homeowners who are moving OR unhappy landlords (door knocking seems to be the best option or propertyradar.com)    ... and see what you can do to solve their problem...   perhaps you can get an option to buy an unwanted property if you manage the property for a period of time and give them all the rents... or perhaps offer to turn their property into an AirBNB and guarantee a return of 30K over 3 years?) 10K payable on Dec 31 every year.

3) OR.. my favorite idea... go get a commissioned sales job (perhaps in the construction/remodel industry) since it sounds like you are handy. most contractors HATE bidding jobs and most would LOVE extra business.  from what I've heard 10% is an acceptable commission rate  (Pools, Roofing, Concrete seem to be the highest dollar value jobs - but painting, landscaping, fencing would seem the easiest to sell)

not in 29 palms—just renting 3/2’s in yucca valley.  However I’m not opposed to 29.  I’m seeing 3/2 rent there for 1000-1400 month. 

The city looks a little sketchy driving through. But there are some great people from all over the country that move there for the military base.  

Realtors have told me that it’s not a place to get rich quick. But more of a long term proposition—and basically upgrading your rentals to be bombproof. (Tile baseboards instead of wood-for example). Turnover can be annoying there - so you have to build vacancy into your p&l projections 

Jacqueline:

Congrats on your investment

a podcast I listen to recently discussed had the 29 palms mayor discuss the upcoming investments to the downtown area — called the z107.7 up close show Gary daigneaux 

Also about 6 months ago I had a pretty good conversation about the 29 palms area with Vinson Johnson (a realtor in the area) who really gave me a good understanding of the rental market and how the military base affects (No connection to him but he would definitely have some insights and possibly some. Connections for you) 

correct, rules/regs.

JT is not a city. it's a Census Designated Place. (aka...unincorporated San Bernardino County).  

so, governed by the county.

the only area requiring a permit currently is in "the mountain area" .but I heard a rumor from a big time AIRBNB guy that it's being viewed as a pilot for the rest of the county.

http://cms.sbcounty.gov/lus/CodeEnforcement/ShortT...

yucca valley city council just had a 3 hr session a few nights ago on vacation rentals.  they are going to take public comment one more time before enacting the law.  basically, you are a mini hotel now (paying occupancy tax, and guest # limit based on bedroom, etc..)   you can google what they are proposing, but the overall vibe is that yucca doesn't want Vacation rentals.   I think it's just a matter of time before unincorporated san bernardino county can put a law on the books.. but they are just stretched so thin (largest county in the country)