All Forum Posts by: Joe Wortham

Great thread going on in here. I too love the RV park idea. My version of this idea would be a twist between RV park and airBnb style camping. 

Background - I stayed at a lodge in Alaska for a fishing trip last year. It was very expensive but the property was very old and run down. We were able to eat and sleep at the lodge. They cabins were poorly insulated and there were no upscale finishings  on anything. My point is even with all these issues, we still had a great time, paid big money to stay and would go back. It was the destination that we came for. The lodging was only to eat, sleep and shower. I been thinking about a good location that has a year round economic engine that draws people to it. 

My investment resume is relatively short. I am a licensed real estate agent in the state of California partner with my wife in the South Bay. I am also a career firefighter and I just completed my first BRRR. I haven't yet gotten to the refinance and repeat but it's coming.

If you want to chat sometime about the location and brainstorm on what we could possibly do together message me. 

I agree there is demand for something like these ideas.

Thanks!

@Ned Carey I agree!

@Gilbert Dominguez 

Spanish Bungalow - rectangular box, flat roof with parapet. Lot dim 45’x130’

Numbers : purchase price 515k 

Remodel costs 130k to convert a 2/1 business space to a beautifully renovated 3/2 residential space.

(Cost to add ground level square footage $350+/ sq ft) cost to go up....even more. too rich for me at this time. Maybe in the future!

I would like to build up and make a 2 story apartment or residential above commercial as the city allows. But I don’t qualify for that cost. 

Total Investment $645

ARV $700k+ as a SFR

Thanks for the feedback

@Alexander Price Thanks For the advice. I’ve reached far and wide. The kicker is that because of the 203k they need to be licensed. And time is not on my side at this point. No prob through, I just have to keep it moving and solve the minor issues as they come up.

I am planning the cosmetic remodel @Arlen Chou 

@amit m Transitional district. Allows r3, mixed use, and r1

Hey BP! I NEED a general contractor IMMEDIATELY in Gilroy. (Like Today) I am working on a fixer upper using a 203K loan. (Google it) It really couldn’t be any easier to do but it seems to be difficult to get someone who can fill out forms. If you want to work on this project with us or have a referral who can please reach out to me. Background: Fair to large budget for a small project. Biggest hurdle is the documentation/ forms the lender needs for 203k super easy to do (I’ll even help) but not difficult for people who have high school level clerical skills.

Hey BP! I just bought a small property in the Bay Area. Prices are so high that when I saw this property thousands lower we jumped on it. That being said it is a small 1000 sq ft home on a 5100 sq ft narrow lot. 100yrs old. Originally and if money was no object I wanted to go up and back to create a duplex or triplex. Looking at our budget we are changing our plans... for now. So I want to gut It and still split my 1000 sq ft into (2) 500 sq ft apartments. OR Gut the 1000 sq ft and change layout to modern SFH and rent it out or sell it. All thoughts and ideas are welcome. Thanks!

Open building without finishes currently. On a downtown Main Street. Current neighboring business are retail shops boutiques small market. Etc

I have heard of 203K however I will have to look into it. I didn't think it could be used for commercial property.