All Forum Posts by: Jon Martin

I agree that a true wood powered fire pit may not be ideal, especially in fire prone areas. Plus you have the added responsibility of keeping wood in stock. Would also be a good idea to have a fire extinguisher handy. 

I have a small propane powered fire pit that connects to a line splitter and tank that is shared by the gas grill. 

I have 1 and I really dig it, no complaints so far. Easy to un/lock and change codes remotely.  Sends a notification when the battery gets low. Keeps a log of all entries. 

However in fairness I have not tried any others and from the sound of it some of them have the same features as well. 

I'm not sure how helpful a square foot estimate would be. For example, a kitchen will cost far more than a living room because you have cabinets, counters, backsplash, appliances etc, but maybe you find a place that has outdated but well built cabinets that just need to be painted and new hardware added which will save you a lot. You can find some really nice flooring for <$1-2 SF that are perfectly fine for a rental or a flip in a middle class neighborhood, but if you are in a high district the buyers will expect more. Or if a house already has dry wall that just needs a fresh coat of paint, that will be a lot cheaper than having to put new drywall in that will also require paint. 

At the end of the day, it varies. It's better to look at each property individually and see what needs to be replaced, what can be touched up, and what can be left alone and what scope of work is appropriate for your intended use (LTR, STR, flip, etc).

Can you please detail exactly what work you need done so it can give us an idea as to whether an architect is even required? "Remodel" can mean a lot of things, but unless you are actually adding new square footage outside of the existing structure then I'm not sure why you would need an architect. You don't need an architect to knock down or move around walls or replace cabinets. 

In regards to adding new square footage, the rule of thumb numbers (taken with a grain of salt) I hear thrown around are around $150-200/SF in less expensive areas and $300+/SF in California and other high rent districts. 

No, I got you the first time. If there is an appraisal contingency, both parties are allowed to back out if either party is not willing to go with the appraised value. 

Happened with my recent purchase where the appraisal was more than 10% below the agreed upon price because it was tough to find good comps for both the listing agent and the appraiser. There was a bit of a stalemate where the seller was in shock and supposedly wouldn't budge, so I offered to cover ~25% of the gap and they went for it. Seller fatigue is a thing. 

Now if there are easily verifiable flaws, you have a chance, but you are still relying on the appraiser to acknowledge their mistake. Otherwise, your only option is to start over with another lender. 

it’s always worth appealing but at the end of the day, you are telling someone they did their job wrong and hoping that they will acknowledge that and rule in your favor. Good luck with that. 

Otherwise, the seller will probably try to hold their ground but if the property has been listed for a while, there is a good chance they will give in for the sake of closing the deal and not having to go through the whole process again. If they really seem stubborn, offer a few K so that they feel like they are getting something. 

Your experience is valid as it pertains to you personally, however it seems like good old fashioned bad luck for one person to have that many cancellations. We have a lot of STR owners here, and I don't think any of them would support booting reservations or raising prices on an existing booking because prices happened to go up. As always, people tend to share bad experiences more than good (we are hard wired for this) and there are entities that have a vested interest in amplifying these stories. Especially the hotel industry, who is taking a beating because their business model sucks in today's world. When you divide the number of these stories by the total number of stays, you are probably talking a fraction of a percent.

I've definitely stayed in STRs that had marginal furnishings and were chintsy with supplies, but I've never had an experience bad enough to make me want to stay in a hotel instead. If anything, the uncertainty and tightening of the market will force most hosts to up their game, which is a better overall outcome. 

@Bruce Woodruff All of this. Even the hotel brands that are perceived to be nicer by virtue of their name and that seem really nice when you walk often have very outdated rooms. They dress up the lobby, bar and restaurant but when you get the room, it's oftentimes about the same as a Best Western or a Hampton Inn (and sometimes worse) with a far higher price. Lipstick on a pig. Then they nickel and dime you for WIFI, $6 bottled water, coffee etc. The only exception seems to be the super high end destination resort properties, like you mentioned.  

@Rodney Sums I'm no expert either but I like the unique neighborhoods and decor that only individual owners can provide because it reflects their own style and environment. Plus the benefit of supporting an individual or family who is also using independent operators to clean and manage their properties. Hotels will always be beholden to their business model that is built on uniformity and economies of scale, so I don't see them paying the premium to individualize their properties. They will probably try, but I don't think they can do it without it feeling generic. 

Paywall

@Preeti Tibrewala I don't have a link, however I am going off of experience with government jobs that I've had in the past. Where this house is appears to be in the area of Los Gatos, but not within the actual city. City laws only apply to what goes on within their jurisdiction, ie the city limits. Outside of city limits it defaults to County ordinances, which STRs have generally been safe from until recently, where some counties in California are starting to issue county wide ordinances. Which is why your next call or google search should be to Santa Clara County. 

Also, I agree with the comments above that this place does not need much interior work. You already have an open concept and a decent layout. Maybe some cosmetic updates here and there, but nothing that should be a huge expense.