All Forum Posts by: Yunning Lee

Thanks for your input Brian and Jake! The property is located in central Ballard (Ballard commons, Ballard library, etc). I also spent an evening walking on the street and talked to the people who live in that neighborhood. It looks like the people there are well aware of the homeless situation but they also said the homeless are hanging there, but not doing something crazy. 

Anyone familiar with that area?

Thanks!

I recently found a property that I plan to make an offer. It is in central area of a popular town in seattle, walking distance to everything. However,  this property is right across a park and a church where there are many homeless. Should I walk away from this type of property?

Thanks,

Rachel

Unless the calculation of cap rate is different, I doubt you can find any SFR with cap rate 6-12%. Can you post a listing that falls into this range?

Hi All:

I am using the seller agent as my buyer agent. The owner of the property is an LLC. The taxpayer of this LLA is the seller on our agreement. However, from some information resource, we found out the seller agent may be a member of this LLC, i.e. he is also the owner the property. I did some google search but couldn't confirm it.

According to the law, the seller agent should disclose his interest in this property.

My questions:

1: What is the consequence if the seller agent doesn't disclose his interest in the property?

2: How to confirm whether the seller agent is a member of the LLC?

Thank you!!

Hi All:

I am using the seller agent as my buyer agent. The owner of the property is an LLC. The taxpayer of this LLA is the seller on our agreement. However, from some information resource, we found out the seller agent may be a member of this LLC, i.e. he is also the owner the property. I did some google search but couldn't confirm it.

According to the law, the seller agent should disclose his interest in this property. 

My questions:

1: What is the consequence if the seller agent doesn't disclose his interest in the property?

2: How to confirm whether the seller agent is a member of the LLC?

Thank you!!

thank you so much for all your replies! Do you know the cost and time to hire an architect to do a zoning study and schematic design? We only have a few days for the feasibility contingency. We drove by the same area and found that there is an 6-story apartment building with the same zoning code but on a slightly smaller lot. I will probably call the design company and ask the cost of that project , not sure if they are willing to release that information to me.  

My question is this:

If the building that I mentioned above is feasible and my targeted house has the same zoning code, does it imply that I can also build a similar building on my lot? Do I miss anything here?

 Many thanks!

Hi Everyone:

I am new to this forum. This is literally the first discussion I posted here. We are currently under an agreement of a 4-plex of 1million. We are debating whether it is a good idea to buy this property or find a better opportunity.

We can build 6 floor 12 units (2bed, 1 bath, 800-1000sqft per unit) on this lot. What would be the approximate cost to build such an apartment building.

Also, if we decide to go this path, how to estimate the market value of apartment building? I never bought any apartment building before. Is the estimation of apartment building similar to residential house? Residential property usually uses comparison of similar house recently sold in that area. But apartment building is quite difficult to find such comparables. If it costs 3 millions to build and the value of this building is only 4million, then it doesn't make sense to me.

Can anyone give me some opinion or suggestions?

Many thanks!