All Forum Posts by: Seth Borman

Most places don't consider "bulk" to be fewer than 30 units at a time.

You'll get a lot of efficiencies from being able to pick through different contractors and lower prices iteratively. 

For example, I just rehabbed a house in a new market. I got 5+ bids for everything that I could, and now I know where to get things done more cheaply and quickly next time.

I've read on DBS' site that you can get a general rehab permit without drawings over the counter as long as you aren't moving plumbing or electrical. I've never tried it.

If you do anything that requires engineering be sure to make sure it's done correctly before you submit it. Get the carpenters to look at it. If you have to change it later it will be a supplemental permit that will take a month.

You should build a spreadsheet in excel that models your plan.

The water can be run from the sink. The trouble is that you'll need a 20 amp circuit breaker for it.

As for the impact on rentals, dishwashers and W/Ds are the things that separate apartments, so you can expect lower vacancies at higher rents in MOST places.

You need to look around at what other people are doing to see what rent comps you can find.

We went to minisplits on one of our buildings to replace the central boiler. It worked out pretty well, but the units are small to begin with.

If I were doing new construction I would give some though to ducted mini splits. Instead of having a wall mounted head you put it in the ceiling with a small amount of ductwork. Much more efficient than traditional central air, at a modest cost.

The new ADU laws were created to try and get SOME housing built in a state that has fought against new homes tooth and nail for 40 years.

As a result, 20% of all new homes in Los Angeles last year were ADUs.

If that isn't optimal... call up your electeds and tell them you want to see more apartments with less parking in urban neighborhoods.

You need to dig into your comps and find out what people are renting. In high cost markets that is a cozy two bedroom. In some markets that is a small studio.

Where?

Suggestion sent. It's for RTA cabinets, which might be an issue, but they worked really well for me last year.

We did a 7 unit building in WA for $3800/dr. It worked out pretty well but we were switching from a gas boiler and some of the tenants were keeping their units at 90 degrees. Once we switched they couldn't do that... one winter turned the place over, we renovated and doubled rents. It worked out pretty good. We bought the place for the acre of land under it, and it is solidly outperforming the 1% rule.