All Forum Posts by: Jason Hsiao

Link to the Meetup is in my profile... I don't think I can post it here otherwise the BP Mafia would flag it and remove it

 @Sandra Ceja @Jean Chen @Ryan Passi @Cristóbal Paniagua

@Cristóbal Paniagua

Just randomly came across this, might be too late @Ronak Patel but if your title and legal description says you own two lots you might NOT need to subdivide it; it's already done for you.

ADU you can get it permitted and built quicker, but I don't think it'll add to the exit value as much since most appraisers and market resale is not treating it at the same dollar per sqft as regular SFH (but it's pretty close in some markets I've seen like in Long Beach).

4,000sf lot is still manageable. What's the zoning here or FAR that's allowed? Even at a somewhat typical 0.35 FAR that's a 1400sf very acceptable right around the average home sf.

Happy to take another look at your title or mapping etc if it's not too late

In Souther California Los Angeles Orange County area we're probably seeing $50-75k depends on how long of a trench you need to dig for sewer and some other factors @Mike Hong. Taking a discount of that number for OKC is fair so maybe closer to the $35-60k range @Rick Imby mentioned.

I call this playing moneyball in real estate. Look for properties that are sitting on the market say 21 - 30 days and see if you can put your negotiation skills to work. Look for properties that fell out of contract. Some properties that are ugly ducklings ready to be turned into an all star!

We just found a place that's $83k below fair market value and $171k below what Redfin and Zillow says if you believe that kind of stuff haha. It was a Zillow iBuyer home and they weren't showing and marketing it well.

Also in contract to purchase a duplex to add two ADU's in the $800's and the exit is $1.6-1.8m in silver lake echo park area.

Damn, didn't you know you started a group @Jonathan Taylor. I just missed it!

Not sure what the rules are for in person meetups but it's been working out ok as long as respectful to the businesses. This month I'm going to be at Glendora Public Market on Wed June 16 at 6pm. Rotating geographical location a bit.

Come grab a drink if you're in the san gabriel valley area or inland empire. Meet and learn with other investors, no agendas no pitching.

Who's interested? Tag a friend who's been missing in person meetups.

Have you asked that lender what your monthly payment etc would look like with conventional loan @Christi Lane? BP advises people to do FHA all the time but they forget to mention the huge mortgage insurance you have to pay in more expensive coastal markets and how it's extremely difficult to get these offers accepted.

You can put it in a land trust to bypass the owner occupant requirement @Jeffrey Palmer

It takes some time and patience to get the permit for the conversion but it's not bad all things considering

Check the zoning first on ZIMAS @Sharon Nelson, assuming the numbers work, get it under contract and ask an architect to do a feasibility study to make sure you can build what you think you can. Depending on where it is, you might need a soil report or at least request one from the seller or ask your title rep for an NHD report to check if it's in a liquefaction zone or close to any major fault line. To vet the syndicator, check their track record, look closely at their build costs and exit assumptions.

Msg me for more info. If I post outside links I think the moderators will take the post down.