All Forum Posts by: Joo Park

What are investors thoughts here? With covid-19, will people shy away from buying or renting dense dwellings like condo, apartments to single family homes?

This rental unit is fully paid off.  I thought rental income was a factor in pulling money out from a rental instead of a primary home?

My rental property is a main home (3 bed 2 bath) and an adu (studio of 353 sq. feet). Combined rent collected is $5300. I'm wondering how much I can borrow from bank on this rental property? I believe this home is valued at 875k.

home depot or lowes.  Chinese cabinet stores

I'm also doing an adu.  Mine is a garage conversion, which is being converted to 350 sq feet of living space.  After looking back, my regret is not taking advantage of the maximum allowed sq footage of 800 sq feet.  I wish I could have expanded the garage to an 800 sq feet 2 bed 1 bath.  If you are going to do an adu, take advantage of the maximum allowed sq footage.  A challenge I'm currently facing is the sewer line going from adu to main sewer line.  It's so far away that we are having a tough time making it work.  

I've been getting quotes at $200 per sq feet for the conversion of my detached garage.  279 is still high.

is it cheaper to hire a GC who get better sub contract prices or you  being GC and getting retail sub contracting price?  If the latter, then, hiring GC is the way to go.

i'm leaning towards selling the home and marketing it as a "cashflow positive" home since renting the main unit and garage studio will bring in enough money to cover the cost.  If unsuccessful in getting the price I'm looking for, then, I will rent out both units.  So, it seems like getting the studio permitted makes sense to ease the perspective buyer. 

I recently got a property in san jose and turns out the detached garage has been converted to a studio.  Should I convert it back to a garage or keep it as a studio?  The conversion was not permitted.  So, if I do keep it, I will have to somehow have it permitted.  I'm also wondering if selling the house with the studio will get more $$ than with a garage? 

@Bryan Balk  how was this resolved?  did you end up paying the whole judgement?  I don't understand why you were held responsible for this lien since child support liens are junior to 1st mortgage.  Also, we the child support lien against the property that was purchased or a blanket lien under the dead beat parents name?