All Forum Posts by: Lee Bell

The appraiser will want to have a comp or comps with a similar ADU so as to demonstrate the premium being paid for said ADU. If there aren't ADU comps, then this is a big headache. I don't know your area and can't comment on what an ADU might be worth there. But compare houses similar to yours without ADU to houses similar to your with ADU and you can form your own opinion. BTW, don't go looking in superior areas for comps. Not gonna fly.

Also, ADU is kind of a generic term. I have seen a 100 SF "ADU" and much larger ones that would be a decent size house all by itself.

Paint a mural on the side facing you.

Next, buy adjacent to a hog farm and complain about the smell. ;>)

This appraiser looks at the roof and will call it out if it looks bad in any way.

I also check for permits in cities that have that info on line and will note in the appraisal if there is work and I see no permit for it. But I am not the permit police, it is up to the lender if they want to do anything about it. Also depending on the city. As long as it is in good shape you will probably not have a problem, I see tons of work without permit.

I'd look at properties with the same zoning in the area that sold. In this market there is a good chance the buyer is planning to build units. So, I'm looking at R1.5 with as similar location as possible, and same size. How many units can you build is one of the main drivers of value for these. I've noticed the Arts District and south part of North Hollywood, they are really going nuts building.

This would discourage investment in improving the housing stock. Bad idea.

Agree with this bit by @Jay Hinrichs

If you don't understand what you are putting your money into, don't do it! You are just cruising for a bruising.

[quote]ya but you can see how those that are not foreclosure savvy would buy into it.. like you I call BS on that puff piece.
[/quote]

Textbook fraud.

They have been property flipping a handful of various residential

locations back and forth between their business partner, each time

increasing the supposedly sales price by 100-200k, and eventually take

out a large mortgage on said properties. No renovations are done, and

the properties are typical single family household types.

I suppose it would be illegal to shoot the guy with a paintball gun.

Then call the cops, the perp is marked.

OK, he probably ran off after being shot with a paintball.

But, it won't kill him. If he runs off, no need to call the cops. ;>)

Umm, don't do this. 

Inflation over the long term and Buzz Lightyear say prices are going

To Infinity and Beyond!

LOL.