All Forum Posts by: Robert Chuang

@boris is right. I take back my previous comment lol. You can have ADUs on multi family dwelling.

https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201920200AB68

@Carlos Alonso Hey Carlos, if you are zoned duplex and not single family. You still cannot have ADU. It only applies to single family. However, depends on your layout and your second unit. You MAY be able to down-zoning to single family (R1) and have ADU and junior ADU at the same time. However, this may be a lengthy process if thats the route you wish to take, and its not 100%. Hope that answer your question

@Denisse Lara I have been looking into wedding development in LA area as well! Would love to connect and see what you end up doing! So far we already have business plans and money partner line up...except the right land in the right city!

Was in contract with some parcel owners in malibu and tujunga but both didnt go through due to city's development limitation! Would love to see what you have to jump through to get your SUP in the urban areas.

Robert

@Yvonne Chou In your scenario, I think the only way to boost your qualification is to purchasing 2-4 units. The income from the rental would help to push your limit higher. Typically use rental income *0.7 to determine the amount to add on top of your income. Hope that helps

@Kevin Chan Hey Kevin, I would totally suggest someone that I learned alot from in youtube as well. He was a recent guest in the biggerpocket podcast. Name is meetkevin. Talks alot about buying wedge properties. If single family is what you are looking for, totally look into him! 

@Fred Fleury Another thing to point out is that if you do remove the most recent tenant (probably the highest rent) due to the rent control rule. You might be hurting the cash flow. If you arent replacing the lowest rent tenant. If that make sense? 

Separate meters for water and eletricity and gas? Utilities seems awfully low 

@Paul Wolfson
I got mine from MLS as well (realtor), it is a program called trendlogix. Not sure how else you can have the access to the same program though.

I also follow "first tuesday journal" you should give them a try. They do provide trends every so often (I think month to month). its free! 
Here is the link for your convenience ;D Happy holiday!

https://journal.firsttuesday.us/

@Jon Huber
Concur on what @Will Barnard mentioned, the new bill coming in effect in 2020 has changes in ADU laws and prevent cities from setting certain limitation against ADU. I would highly suggest to go into the city or consult with a real estate professional (a consultant or permit expeditor) regards to the new ADU laws.

Please also be cautious with the new law, although by default city has to comply with state laws. Some cities (wealthier ones) would not bother with ADU, they would let the state to sue them anyway. Just some beneficial info you should know as I am a close friend with few different directors of urban planning...(This is in LA region)

@Matthew R Boudia Depends on which area you are looking at. I would say most and most I meant by 98% of deals wont work out a cash flow in LA...lol. But it can work and its out there!

@Thuy Pham-Satrappe 

I used to use a frigidaire professional series on a high end flip I did few years ago. Sale price was $1.75mm. Most people would say they would prefer something like kitchenaid or equivalent. I know I was being cheap lol, learned my lesson from that one. I am building something for $1.35mm in eagle rock, CA now. We are using vikings (4 piece package for $10,000). Again these are in Million dollar range. If its something in California around $600k, I would recommend a frigidaire at minimum.