All Forum Posts by: Kevin Dang

1st thing is check with the city zoning requirements

If you want, make offer contingent on inspection. But looking at this, not something I would get myself into.... Project is at least a half a year project and 30-40k for rehab aint gonna cut it. You going to basically rebuild this place.  Just the design phase, drawings,engineering, permits, etc is going to be 10-20k depending on the scope.

I'm not saying not to do your homework.... 

Lets say you want to build a non bearing wall. Do you rrly want to spend time to buy and get all the lumber and fasteners? What if you missing stuff or get it wrong...

There are better ways to manage costs. 

I used to do residential projects. Some owners say we could get these fixtures on amazon or ebay cheaper. But it ends up delaying the projects and the costs for delays end up being much more expensive. 

Don't count pennies. Think of the bigger picture. 

@Annie Levan 

@Sam Shueh

I understand your perspective in providing materials for the contractors. However, I don't think you have the time and maybe even background to get all the material he/she needs. And the contractor doesn't want to be babysitted or wait for materials. 

Find a number of good contractors and do your due diligence. 

FYI, building a bathroom isn't as simple as hiring someone just to build it. You got a bit of hw to do. 

@Annie Levan that’s only for the “issues”. Not for the “remodel”. I would check the house to see what can be done to add value.

@Annie Levan An agent can provide comps. If you are getting this property of the MLS, you should be able to get an inspection report. If not, you can have your offer be contingent of that. Base on the inspection report, you can get bids for those.

Looks like you are trying to flip, talk to a GC about the work you want to pursue to add value to the home. 

Since this is your 1st project, try to keep the work simple. 

yes

https://www.ci.richmond.ca.us/3376/Rent-Increase

@Andrew Caldieraro Make contingency on inspection. Base on report,  create your construction estimate. Include costs for asbestos and lead abatement. In addition,  add 20-30% allowance for unforeseen conditions. Inspector isn't going to see everything and who knows the condition of the home.

Base on the home, city may make you keep the historical requirements of the home. 

Doesn't help your case if you don't meet the terms of the contract. Since repairs are needed, there should be deductions of the rent because they are not providing the living space you signed up for. I don't know the terms of the contract and how long it is for, but you need to have the terms on your side if you want to win...

There are to many factors, review your contract with your attorney.