All Forum Posts by: Matt D.

Hi everyone,

I purchased land all cash in Oakland hills, Oakland, CA for $510k about 5 years ago. Now I'm looking to use it as the collateral to do hard-money lending. Any recommendation to get it quickly?

@Erik Stern

@Erik Stern

Thank you all for the replies.

@Erik Stern I will make about 100k only if I sell now.

@Jason Hsiao

I'm building a brand new ADU (1200 sqft) right now in Santa Clara and the cost is 180/sf. Definitely, would love to connect and talk in person if possible.

For  building this apartment, because parking garage will be on the 1st level, 4 units on 2nd level, another 4 units on 3rd level -> the cost will be less than building a house. It is because building 8 single house you need to build 8 different foundation; here you only need to build one single foundation and of course the structure has to be stronger. That's why the price per sf will be less expensive than when building house. This is my interpretation and verified with contractors.

I acquired a land near downtown Oakland (close San Pablo Ave and 27th st) with a plan to build quickly an 8unit apartment (I consulted with city before purchasing it).

The land has been still there for 2 years without doing anything. Recently I see the Real Estate market in south bay is kinda doing some correction and the real estate has been doing very good for about 8 years. I was feeling it would crash very soon with the respect to real estate cycle. I reached out to my agent by whom i purchased the land. She said

1/ Real Estate in Oakland is still doing well and actually there are a lot of development going on now because the SanFran market is kinda over-priced and people are moving to Oakland.

2/ If I am worried about the market she can check with some people who asked to buy the land. The interest party replied quickly with an offer which did not meet my asking price and I rejected that offer. They then followed up with counter offer equal to my asking price (just about 100k more than the price I purchased 2 years ago)

Just want to give you some quick context of the my analysis of the investment:

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We are going to build 8 unit apartment.

Building cost: 1m to 1.5m
permit cost: 50k
selling cost: 4% to 5%
price per units: 300k-600k (850sqft + 200sqft mezzanine 2bed/2bath each unit) -> price in total: 2.4m to 4.8m.

Location: near 27th st and san pablo ave which is near downtown Oakland.

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In the worst case we sell at 300k (brand new apartment 2bed/2bath 850sqft + 200sqft) we still make some good profit.

What I'm not sure is about the market - i'm just afraid of keeping some unused land when the market would crash very soon.

I welcome and appreciate your thoughts. Thanks in advance.

Love this. This is one of my best thread in BP. Please keep it up.

I'm looking for a landscaper/garden for paver project in my backyard.

Would you mind giving me some recommendation?

Thanks a lot.

I bought this book from amazon. Can I get 5 bonus pdf files?

Hi all,

I'm in Bay Area and I'm having a new construction project on a land.

I searched in Google for the average of land survey cost and it is about 300-800. I also found some other posts about the similar price (https://wallethub.com/answers/how-much-does-a-land...).

I called several land surveyor and got quoted like 4k, 5k and they said price per hour is 300 which is very ridiculous to me.

How can I find a better price? and if you are living in Bay Area please give me some recommendation services providing with good price.

Thanks,

This is very helpful. Do you have a link pointer of steps to build a new construction?