All Forum Posts by: Keegan Wetzel

In Oceanside ( San Diego) I just paid $7k for plans and engineering for a two-story ADU / JADU design, I have another 4k in Survey work and concrete certificates and about the same in soil testing since it's a two-story. I paid this same architect $3500 for plans for an addition, another $4k in the survey and concrete certs. I chose someone the city quietly recommended, my goal is fast approval and no drama. I've tried corner-cutting in this area and it's cost me so much time in the past.

Hello my name is Jarvae I’m 32 I’ve been in the navy 14 yrs and I’m booking to get into real estate as I get closer to retirement. My goal is to do out of state investing and tenant occupied properties. Im looking for advice on getting started. I look forward to hearing from anyone willing to help. 

@Keegan Wetzel hi Keegan,

Where in North County do you invest in?

Hi all,

Are there any friendly agents in SD North County working with multi family homes? Looking to expand and would love to find someone to work with now and long term.

@Jon Ful I'm happy to recommend some contacts if you are interested...I've tried and reached out to several cost seg companies for properties here in San Diego.  There are lots of things to consider before choosing one.  I've found that cost segregation companies don't always do a great job and will miss  things even though it is something they specialize in. 

You have to ask lots of questions and make sure you have some level of understanding about cost segregation and not relying 100% on someone else, even though that is what you are paying them for.  

 For instance, I've reached out to cost segregation companies in San Diego that will base land vs building value on whatever split the tax assessors report shows which many times can be around a 50/50 split. 

Based on the value of a property you can likely get away with a inexpensive desk top study such as condos and you will require a more comprehensive engineering study for larger properties like a 4plex.

Hi @Anthony To, I have about 11 ADUs currently in different phases of design permitting or development in various cities around San Diego. $36k is very expensive for the costs you were quoted, especially a garage conversion. I plan to build 2 homes and 2 ADUs through SB9 and I am expecting the soft costs to land around ~$36k. For a garage conversion, I would expect ~$5k in design, ~$3k  in title 24 & engineering, ~$9k in permitting fees, and school fees would depend on the school district. San Diego Unified School fees are $4.79 per square foot of assessable space, so it would be ~$3,353 in your case.

You can avoid school fees by keeping your development below 500 sqft.

Im currently looking for a RE tax professional/preparer in San Diego, CA. Obviously they need to specialize in real estate rentals, holdings, and LLC.

Any help and direction would be great! BP would be great too but I do prefer to work in person so hopefully someone local

Eddie

Hello Bp friends, I am looking for a lender that is VA loan friendly. So, the issue I am having currently with all the lenders I've spoken with so far is that they are not willing to allow me to us my GI bill as additional income. The housing payments I receive through GI bill will up my annual income by almost 30k, which serves to benefit me in lowering my DTI as well as qualifying for a higher loan amount. From the research I've done I know that housing payments can be considered as income at the lender's discretion. I know that they may come a dime a dozen so I figured I would ask BP family if they've come across any or have worked with any in the past?

Additionally, like I mentioned earlier I am in the process of speaking with some lenders and I would like to hear from anyone the top 5 questions you like to ask lenders? This is my first deal and I know the best teacher is experience but going in on a good fit doesn't hurt. Thank you, guys, ahead of time.

@Anthony To I've heard ADU Geeks is fairly expensive and 36k sounds like a lot for sure. I would reach out to as many companies as you can and get an idea of the range of costs/experience/quality before you commit to a company.

I recently started chatting with different companies myself because I want to build a detached ADU at our residence in La Mesa. I'm happy to share a few contacts that I've chatted with recently!