All Forum Posts by: Jason Hsiao

Yes there are. The challenges are 1) If the zoning allows for it 2) Does the property owner want to sell and finally 3) Do they want to sell at a reasonable price.

If those scenarios are met, you submit plans to demo the property and rebuild.

Before you find the deals you have to find yourself @Michael Avillion. The first decision point I'd say is usually are you looking for cashflow or appreciation, that will help you narrow down quickly what market to focus on first.

NC is a great market, esp if you have local help. I'm partial to RDU area myself ;-)

 Check the zoning code to see what are the permitted uses and then go on Loopnet to see what kind of use has the highest average rent (and assume demand in the market)

Plenty of pro's still find good deals on the MLS @Robin Morales, it depends on what your criteria is or what's a good deal to you.

If you are simply trying to buy a SFH at 70% ARV, be patient and prepared to invest a lot of time networking with wholesalers is another route.

For the DIY approach - drive for dollars, look for yards with grass uncut, code violations from the city, or get a list from listsource or pull your own through PropertyRadar and start mailing or calling the owners.

Good luck! Lmk if there's any other questions I can help answer.

@Eric Colicchio @Michael Parmenter you can find a SFH with a detached garage. Convert the garage as an ADU, live in it, and rent out the front house to cover your mortgage. It's much more time and cost effective as building a detached ADU.

Where in SoCal are you or are you looking?

@Josh Deeden I was going to say Boise and other mountain states towns like Bend, Ketchum, or Bozeman like @Kory McCain but if weather is a concern Asheville gets my vote

Depends on where it is in Texas and if you have someone local helping you or putting a team together since I noticed you're in Utah @Kyle Varga. It's not necessarily hard, again depends on where you are, it does require patience and special knowledge.

Yes, Step 4 is legit @Trago WAllace, and you don't have to deposit it back into the QOF. Arguably you wouldn't want to for the reason @Scott McIntosh mentioned. Refinance is not a taxable event so it doesn't need to go back into the QOZF. You can simply reinvest if you choose in other entities.

What many people are planning to do is to refi closer to the 2026 or April 15, 2027 to provide liquidity when the deferred and reduced cap gain tax is actually due.

Establish contact somehow and try to build rapport first @Elisa Ting. This can be through direct mail, try to find his phone number if possible, I'd say go knock on his doors but with COVID it might not be a good idea now.

I might not even bring up real estate in that first conversation. Just talk about how long they've lived there, how much the neighborhood has changed, and bring up when appropriate what his future plans are or what he plans to do w/ the property and figure out how to help him.

They don't always want to sell or ready to sell. No need to be pushy, simply ask if they wouldn't mind giving you a call if anything were to change.

It all comes down to $$$ @Bob Ross. What's your ARV? How much did you buy it for? What's your budget? And of course your interest payment while you're working on the project also costs $$$.

If it's a higher end home, bigger longer project can be justifiable.