All Forum Posts by: Justin Lane

I would love to join. This past October I just went through Kol Peterson's ADU Academy and we covered all those areas.  The only problem it is still the beginning of the year and the new laws have not been really tested in CA as gar as number of applications and speed of approval.  Even the mew loan products like the Fanmoe Mae Home Style Loan. 

I really like the idea! I am not sure about your market but here in California, it would be gold. Fannie has a home loan product that will help out and cover the purchase rehab or construction. You can even use the future value of the property and potential rental income to help you qualify. 

Hi Hari,

I am not an expert on Berkeley but I can provide some general information. Most cities have impact fees on any construction in a city. As you mentioned that anything below 750 sqft will be waived. This is due to the new laws that passed this year. In most cities impact fees were a majority of permitting fees collected on an ADU. This is partly why the change in the law because it allowed cities to charge whatever they wanted making building an ADU cost-prohibitive in the past. I would imagine if you plan to build anything smaller than 750 sqft then the standard permits will apply. https://www.cityofberkeley.info/uploadedFiles/Online_Service_Center/Planning/Fee%20Schedule%20Residential%202013.pdf

Hello, I am an ADU specialist and launching and ADU rental program. Have you looked into a new loan enhancement Fannie Mae has to the HomeStyle loan? I only found a few lenders that will do the full provision of the loan. This product will finance the renovation of home and building an ADU. This might allow you to do both a JrADU and Detached ADU. The total loans must reach conforming limits for your area (not sure for SFR or Multi). However, you can use potential rental income and the ARV of the final construction of your home to qualify for the loan.

Hello @Justin Furtado an ADU is a great solution because of California's new laws. I am an ADU Specialist form the Bay Area and trying my hand at an ADU rental program to help homeowners in a similar situation. If you think earning extra income by building and renting an ADU in your back yard could be a solution please let me know if I can help out.

A great book I have read not a real estate book but it has definitely helped me out Phyco Cybernetics. 

Hello Richi,

I am a California Investor looking to invest in the Detroit area on a long-distance BRRRR. I understand you are new to investing, while I am new to the Detroit area. Possibly we can help each other out, as I am in California need someone who is boots on the ground. I plan on visiting the area at the end of the month and attend a meet-up. Perhaps we can connect then. Please let me know your thoughts. Thanks

Thanks for the feed back!

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I am heading out to get my daughter enrolled in school later this month. Looking to possibly invest in the Sioux City Area. Please let me know if there are any meetups.