All Forum Posts by: Michael Ndjondo makadi

@Colin L.

Hi and sorry for the late reply as I never realized that there was a reply on my post. I’m still trying to find one as the one that I have been trying to work with is really slow on his communication. So if you could IM me your phone null number and I’ll give you a call ASAP.

Hi BP investors, I am looking for an architect or structural engineer for a feasibility study to add 2 additional units on RM1-3 lot here in San Diego and possible subsequent collaboration. Any trustworthy referral would much be appreciated.

So I have purchased this fixer upper SFH using a conventional loan sitting on RM1-3 zoning here in San Diego. The plan was always to add 2 more units as permitted on top of renovating the SFH. The initial plan was to use home equity to finance the renovation and get a loan for the construction of the 2 units. I am not sure if this is the best option to go about it. Hence I was wondering if anyone with more experience has done it something similar in the past or might suggest a better option to finance both projects. Your advice is much appreciated.

Hi San Diego and south CA investors, I am currently working on my first R on my first BRRRR and I have

already started thinking on my next R. I was wondering if anyone with more experience here in San Diego or southern CA would recommend a MF cash out refinance lender. Thanks for your time and help.

@Marcus Geiser Thanks for your input. I’ll definitely get that book as well. I’m working with a contractor at the moment and hopefully we can build a long term relationship for future deals.

@Andy Eakes, thanks for you reply. I will definitely PM you. I tend to think that with more experience, investors develop a solid understanding of the rehab cost which gets more accurate over time. As for the ARV, I might be wrong but property appraisal seems to be very subjective to me.

@Sarah Brown, a great real estate agent will be a great asset for sure, however as I mentioned property appraisal doesn't fit as an exact science to me. Maybe that's the way it should be since at the end of the day, price is defined by buyers' willingness to pay.

@Whitney Hutten, thanks for your perspective.

To all flippers, wholesalers, fixer-upper in particular and investors in general. As I finally started my RE investment journey (BRRRR), I quickly stumbled upon to this very issue: how to quickly estimate repair cost without using a contractor and gage an ARV. I watched multiple videos, listened to several podcasts but for my first deal I had to rely on a couple of contractors to provide some repair estimate. This process was not free as I excepted but it was time consuming to schedule appointments. So my question is primarily to know which tool/strategy you use and how accurate do you think that method is? As for the ARV, I used redfin as it provides some nice features to help one select down properties based upon similarity, size, location, and many other options. However, this process is more of art than a precise technique. Hence, I wanted also to know what tool/strategy do you use to estimate ARV.

Thanks for your replies. @Dan H. and @Zachary Ray, I have already discussed the umbrella policy with my insurer and I was surprised by its low cost. So The idea is to get one on top of the usual property  insurance. @Tommy Brown, that's a good point that you made and that has not crossed my mind. I will definitely contemplate this option and discuss it further my insurer. 

After several months of research, we are finally closing on our first investment property here in San Diego. we are really excited about it. The goal is to BRRR. Since this is only our first investment property which by the way we'll be house hacking. I was wondering what kind of insurance (coverage) we should try to get to protect ourselves against any potential litigation as we don't think that setting up a LLC should be the way to go for now at least? The house when fully renovated will have 8BR and 6 baths all permitted hence 7 roommates.

Hi San Diego RE investors, I'm trying to find a reliable and trustworthy contractor to help me out during the inspection of the property window ASAP to provide some estimate of the repair needed and complete the subsequent work that will be required. So any referral will be gratefully appreciated.