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All Forum Posts by: Nick Marrs

Nick Marrs has started 3 posts and replied 40 times.

Post: buying land for multifamily development?

Nick MarrsPosted
  • Specialist
  • Los Angeles, CA
  • Posts 44
  • Votes 31

@Jian Guan I’m a Structural Engineer from Los Angeles and have designed and built many multi-families throughout Southern California. The best way to increase the return on investment for new multi-family developments is from the affordable housing density bonuses and incentives, especially in San Diego which has some of the best incentives and decreased parking requirements. You can get up to 50% more units, and if you are located in a high transit zone parking can be even less than 1 parking space per unit. PM if you would like to discuss any properties in more detail, I would be happy to help you.

Post: Hotel Owners and Investors

Nick MarrsPosted
  • Specialist
  • Los Angeles, CA
  • Posts 44
  • Votes 31

@Mike Cassell I am a structural engineer. My firm has designed several hotels on the west coast and are licensed in most western US states. I would be happy to provide some helpful information on how to design the hotel efficiently and help keep construction costs down for any of your projects/clients. Feel free to PM me if you would like to discuss.

Post: Hotel New Construction CashFlow

Nick MarrsPosted
  • Specialist
  • Los Angeles, CA
  • Posts 44
  • Votes 31

@Alexis Morleand I’m a structural engineer and have designed and managed construction on hotels similar to the one you are considering developing (Most recent hotel was $25 million Marriott with 180 rooms in Los Angeles). PM me, I can give you some guidance on keeping costs down, and especially how to avoid unexpected costs during construction.

Post: Future Los Angeles Multifamily Sales Onslaught/LA Retrofit Law

Nick MarrsPosted
  • Specialist
  • Los Angeles, CA
  • Posts 44
  • Votes 31

@Logan Allec Los Angeles allows you to increase rent to help pay for the retrofit (even in rent controlled units). See the Seismic Retrofit Work Cost Recovery Program.

https://hcidla.lacity.org/seismic-retrofit

@Eric Chang you would likely be required to complete a Tenant Habitability Plan as part of the retrofit permitting process. If you follow the THP process you should have no reason to be sued as you’ve done your due diligence to accommodate and provide notice to the tenants.

Post: Advice on bldg retrofit with forced tenant move-out

Nick MarrsPosted
  • Specialist
  • Los Angeles, CA
  • Posts 44
  • Votes 31

@Alan Bosca where is your project located? What kind of structural work needs to be done? Here in Los Angeles many apartment buildings require a soft story retrofit at the tuck-under open face parking side of the building. Landlords are allowed to increase rent to help offset the cost of the retrofit. If the structural work is due to damage I would check what your building insurance policy covers.

Post: Hire and architect or a GC first?

Nick MarrsPosted
  • Specialist
  • Los Angeles, CA
  • Posts 44
  • Votes 31

@Marty Houghton go with the architect first. You will save money if you have a permitted set of drawings and get several bids from GCs to build it. If you are changing/impacting the structure I would work directly with a structural engineer. I’m a structural engineer — let me know if you have any questions about the process/project.

Post: Sourcing Architect/Contractor Bids for Small 300sf Com Bldg?

Nick MarrsPosted
  • Specialist
  • Los Angeles, CA
  • Posts 44
  • Votes 31

@Neil G. I’m a Structural engineer in Los Angeles. Agreed with the others the engineer or architect would have a minimum fee for a job that small, probably around $2,000. If you don’t have existing drawings we would need to come to the site, measure, and create the as-builds — plan check usually requires we make a site plan showing the overall existing building and detailed framing / layout in the area impacted by the scope of work. You only need a licensed architect or engineer to stamp the drawings (not both). If you aren’t changing or impacting the structure I would go with an architect. If you are then I’d work directly with the structural engineer as the architect would have to hire the engineer. PM me if you are still looking for a designer for this job.

Post: looking for a good structural engineer

Nick MarrsPosted
  • Specialist
  • Los Angeles, CA
  • Posts 44
  • Votes 31

@Judy Rae

RME Structural Engineers

www.rmestructural.com

310-844-0940

Post: Negative cashflow on Rental Property .

Nick MarrsPosted
  • Specialist
  • Los Angeles, CA
  • Posts 44
  • Votes 31

@Vinh Huynh Structural Engineer here in Los Angeles. Take advantage of the California ADU ordinance and either build a back unit detached ADU or convert the garage to an ADU (cheaper option). You just need space in your driveway to park 3 cars. New construction cost in LA area is about $200/SF (can vary greatly based on what kind of finishes you put in). Garage ADU conversion should only cost you $20k. It will add a whole additional rentable unit which you could rent for around $1,200/month in current market. PM me if you want to learn more about ADUs. Best of luck with your investment!