All Forum Posts by: Ran Iarovich

"Be fearful when others are greedy and greedy when others are fearful"

I would approve it. 

 love this

Also forgot to mention. There is a really cool site that I use to figure out if the lot can be used to build DADUS and to what size - dadu.dashreal.com. It'll give you a 3d diagram of what the potential for the lot is to give you the general vision of what you are going towards. 

Hey Lucy, 

I'm a local real estate agent who has an off-market short-term and long-term rental on the lakeside of Lake Stevens that is being completely remodeled at the moment. Feel free to reach out and I can give you the numbers and possibly a tour. 

It makes no sense to keep trying to repair it and beating on a dead horse

Calculate the costs that it will take to tear down, clean up, and build another home based on similar projects in the area and professionals who've done similar work.

If the numbers make sense and you are fulfilling your debt service then I would see it as a no-brainer. 

As a real estate agent who works in the area, I see many get turned off by unique projects like this even though it may be a blessing in disguise.

With that being said, before you make an offer, also make sure you understand what zoning is applicable and the difference between Seattle's NR1, NR2, and NR3 zoning types. 

Also when building the property you will have the advantage of using cost segregation strategies to depreciate the value of certain models by 80% through the TCJA bonus depreciation law that was passed out. 

If you have the money to spend, maybe get a quote from a builder beforehand. 

If you have any specific questions feel free to connect with me on BiggerPockets 
Happy to help,

Ran

I say "anything less than 5 stars is a failure" 

What are your 1 year 3 year 5 year goals? What is your current financial situation? Do you have any current liabilities or assets? 

It is hard to advice you on which path to go on when the final goal is not yet clear. 

In this economy... family, friends, or fools 

 Thank you Kiki! Have you ever managed to market a home like so or see it done from others?