All Forum Posts by: Jay Dimacali

@Will Barnard Hi Will. Is the lot split process something I can do or do I need a specialist to do it? And what's a ballpark cost to do a split?

@Luis Castellon HI Luis. I saw your answers about ADU's and I'm in the SFV myself. Could we talk about what you have to go through with the city? I'll PM you.

Hello BP community,

I'm thinking of doing a lot split with a SFR that has an accessory dwelling in the SFV in Los Angeles. Does anyone have any referrals for a person or a company that has experience working with the City of LA? Any idea on costs for a job like this? Thanks!

Jay

@William Thresh 

@Ronald Rohde

Thank you for the input guys! 

It gives me actionable ideas of what to do next: 1) check with other spaces in the area and see what typically occurs in regards to utilities 2) ask for the leases to review and see if there is any sub-metering in effect or if I can add it.  

Hi BP. I'm looking at a medical & legal office building for a commercial purchase. A value add I can see is to have the tenants pay for the utilities which would be a great increase in income and almost creating a NNN lease. Since I'm more of a residential guy and this is my first look at commercial, I'm not familiar with all the nuances of the commercial realm. If it helps, the building is located in CA in the So Cal area. Anyone have any thoughts and experience with having a tenant take over their utilities? Will they be upset and leave? Or will they accept it and stay? (I'm planning on having the current rent stay the same.)

@Jefferey Chheuy that would be a good reason for liability protection but it all depends on variables like anything - work being done, are they licensed, potential profit, etc. You can just have each contractor / worker fill out an independent contractor form so that they're not your employee and you're not liable if they get hurt.

@Jefferey Chheuy I'm in a few LLC's in CA and your brother would need to pay $800 per LLC every year. Not cheap.

IDK how many deals you've done but if this is your first one why create an LLC? You'll probably have to buy the property in your names if you're getting a loan anyway. Then transfer the property to the LLC. You'll lose any anonymity anyway. Ask me how I know.

How about buying the property in a land trust so you can 'hide' your names? It's a lot cheaper and easier to set up than an LLC.

@Scott Newton  Thanks for your input!  I'll check it out. 

Hello all,

I've got a potential deal in the Northridge California (CA) area (San Fernando Valley) in Los Angeles.  I'm trying to run some numbers to see if I can get a deal that's worthwhile.  It's a 5 bed 3 bath home that will need some rehab.  It's a 2 story home and in a good residential area of LA.  My initial thoughts are to convert it into student housing where I've heard some people will rent rooms out to international and domestic students and collect a good sum.  They provide housing, food, transportation, etc.  This house would seem to lend itself to this kind of deal because of the 2 story configuration.  

Another thought was seeing about making the house into a ALF facility but the 2 stories and only 3 bathrooms seem like a hindrance to me.  

Anyone have experience with student housing and working with agencies in the LA area?  Any recommendations about who to talk to in the area?  Thanks in advance.

Jay

Hi @Jolene Blazey  Thanks for putting this together.  I'll put it down in my calendar and hopefully I can make it out sometime!