All Forum Posts by: Jasper Li

I am about to start the rehab process of my duplex. there is a bonus room in one of the units that Isn't permitted. Garage that was converted into a room with an added door.

When I pull permits and get started on work, will they flag the garage if I'm not planning to do anything with it? 

Thanks everyone, this is all great information. Definitely will do a little more analysis but from the looks of it, it wont be worth it.

Hi BP community,

I am trying to figure out the direction I want to go with the rehab of my duplex. I can create an open floor plan by changing a bedroom into the kitchen and kitchen into a bedroom. Is it worth it? Open floor plans seem more desirable to rent but this renovation would be costly (moving walls, plumbing, electrical, etc). Would this effect the refinance portion of the BRRR since this unit becomes more modern?

Also, what about adding a bathroom? It's currently a 2 br 1 ba. What if I change 1 of the walking closets to a second bathroom? I know it could rent for a little more but the cost of installing a second bathroom is pricey, will the value add be worth the rent + refinance?

Thanks in advance

I am in escrow on a duplex built in the 1920's in Los Angeles. There's an additional room that looks like its either part of the garage or an addition. I've looked online for old permits but the only thing I can find is a record from when it was built. But that doesn't have any information on it. Anyone have any ideas on how I can figure out what's exactly permitted if the records are too old to tell? 

Just got my offer accepted on my first property, a duplex. Huge fixer and will be living in 1 unit and renting out the second.

Currently trying to figure out which loan-program I would like to go with and the ARM sounds like the better move but wanted to get feedback from the BP forum.

ARM has the lower rate knowing that I am fixing it up and will most likely try to refinance in 2-3 years to pull cash out. Conventional is higher. Are there any issues with refinancing and ARM into conventional later on? Anything I'm missing here that I should be looking out for?