All Forum Posts by: Namit Raisurana

I am in the same boat. Building a detached 450 sqft ADU where the main house has a 150 amp panel and Solar and its in the city of Menlo Park. City referred to me some rule called Green Code rule from PGE but cannot find any info on it online. Feels like I am being pushed from one desk to another and not getting a clear answer

What did you all end up doing?

Any lender suggestions who might be able to help? Also, do I need to get the Constuction loan from the get-go or I can get it later in the process as well? I have funds to pay for foundation and thus want to get started. and in the next 2 months get const loan so that can take care of the rest. 

please share your recommendations 

Hello

I am looking for recommendations for a Real estate attorney who can help me with general documents. Some examples - 

- property manager living on site and doing some maintenance jobs. need a contract to state the same and indemnify me 

- having a non-licensed builder help me with an ADU i am building. need a contract with him

- other similar stuff

if you can help or know anyone who can help and doesn't charge the typically high attorney rate, please let me know

thanks
NR

my key question was around trustee for these land trusts. i can work with the specific legal company to have their trustee initially, and then have a resignation deed which designates me the successor. should i do all this or just have myself as the trustee from the start itself? but then if i am the trustee, my name will show up

Yes, i understand this is quite complicated. But even if I dont care about anonymity, I still need the real estates to be in their own LLC to limit liability outside the property. So instead of opening individual LLC for each property, this approach of having an LLC and land trust for each property also helps with paying the CA franchisee board fees only for one llc. Hope that makes sense

I have few properties in CA and I would like to set up a structure which provides me anonymity and reduced liability.

I have set up a WY LLC and various real estate land trust where each trust will hold title to the individual real esate and the LLC will be beneficiary for all these trusts. Since the properties are based in CA I will have to register the WY LLC in CA which will expose my ownership and thus I will have a member manager trust that will be the owner of the LLC.

My question is who should I make the trustee of the land trusts? If I make myself the trustee than I am losing the benefit of anonymity or am i? Or should I make my attorney the trustee and then have a resignation deed making me the successor?

Looking for suggestions from people who have done this kind of stuff before

I have of course done many projects in the past over the last 15 yrs - value add, fix and flip, sub division, long term and short term rental. but this is the first group up build that I will be doing. the fix and flip i did was a total regut inside but didnt include foundation work. does that help?

Hello

I have building permit approved for a duplex + JADU+ ADU (total around 4k sqft) that I am building in Bay area, CA. I am looking for lenders who can provide construction financing for investment properties

Thanks

Thats what I would prefer as well. But not sure if the land is big enough to build a senior care facility considering it might access for an ambulance, ramps, bigger rooms, ADA accessible etc. 

Hello All,

I have a vacant piece of land in East palo Alto, CA that I am looking to develop. Its 5200 sqft and its zoned Residential-Low Density, so I am allowed to build either a 3000 sqft SFR or Senior Care housing. I am contemplating between these 2 options as the specs for both of them would be considerably different.

a) 7-8 bedrooms SFR used for short-term rental -
I do have a similar housing close by and I use it for short-term rental per room (it has 7 rooms). I do have a property manager who takes care of it for me. Although, it cash flows well, its something we have to actively manage. The occupancy rate is always pretty high as the location is close to Stanford, FB, Amazon etc.

b) Senior Care housing - There seems to be quite a shortage for this kind of housing. I could potentially build 5-6 rooms and least it out to a Senior care facility management company for a long term contract. The key reason this is attractive is because the lease would be long-term and I would not have a lot of day to day headache. But I am not sure if the facility will be big enough for a senior care facility. Also, not sure how to go about connecting with a Senior care facility management company so that I can have them to commit to a lease before I invest $1.5-2m in building it.

My key aspects for making a decision would be - initial development cost, potential to be able to lease long-term, monthly rent

Would appreciate any guidance if anyone has experience with something like this

Thanks

Namit