All Forum Posts by: Joe Wortham

Hello BP, Can anyone recommend a commercial (fixer upper) loan/ lender in the San Jose area? I’d like to look into buying a property that is in need of seismic retrofit. Strong upside for this diamond in the rough.  Found something called SBA 504. Is the SBA 504 the right product for what I’m describing? Any help is much appreciated. Thank you! 

Hello BP,

Can anyone recommend a commercial (fixer upper) loan/ lender in the San Jose area? I’d like to look into buying a property that is in need of major* earthquake retrofit. Strong upside for this diamond in the rough. 

Found something called SBA 504. Is the SBA 504 the right product for what I’m describing? Any help is much appreciated. Thank you! 

I don’t believe it’ll be to be a difficult option. New construction that I will rent out. Simple. Currently, the cost of modular is far less than current wood frame or conventional construction at the moment. The potential is definitely there. The right group of people and knowledge looking for the same goal has and does work very well. 

Hey BP community, I’m a full time firefighter and part-time real estate agent partner with my wife in the South Bay Area. I have been birddogging looking for vacant lots in an effort to identify modular home builds. I’ve identified many properties that I am in the process of contacting the owners. I’m thinking build Rent and hold or sell for profit. I am new to investing but really want to jump in. I have about 50k to invest and a few other smaller investors willing to invest and launch a team. Maybe 100k or more. We have an LLC and potentially VA lending option. Open to SFH, residential above commercial, duplex, triplex, fourplex. Anyone looking to build a team that could use us?

Thanks for your replies. The initial idea was to build on raw land and sell following completion. I really appreciate your information.

Thinking of buying land and building a sfh and selling immediately after. How do developers avoid Capital gains taxes? WhAt is the best way to go about this to sell the home for a profit? Thanks!

Hello BP! I’m new here, but a long time listener, reader and watcher. My wife and I are licensed real estate agents in the South Bay Area. We recently sold our home and have a little budget and would like to make a solid investment in to a real estate deal. We are considering buying a small parcel of land and building a home on it with the intent to take advantage of this hot market we’re in and selling it within a 12 month turnaround. Land in the Bay Area is very expensive so it would be somewhat of a miracle to build something practical yet desirable enough to attract million dollar buyers when done. SOME unimproved land for sale have been sitting on MLS for over a year and a half and show no signs of moving. Finally, my question is would it make sense to offer LAND sellers a joint venture deal allowing us to finance the build on their land to sell together and splitting the profits? Or should we just buy the land now and sit on it until we have the equity to build ourselves? Please let me know your thoughts. I’d really appreciate it! Joe - in Gilroy, CA.