All Forum Posts by: Seth Borman

I would install ductless heat pumps long before I messed around with a new gas line.

Sell it as is. Find a broker that does deals like this, get all the due diligence information that he thinks you need, and list it. 

 Your link doesn't work but if it is what I'm thinking it is, it's basically making property tax rates progressive (kind of), which isn't the same thing as a split roll.

No one has proposed a split roll that increases assessments for residential properties of any kind.

We are exiting from a deal like this now. It started as one lot, then we had neighbors vandalizing our property, so we bought that house and evicted those tenants. Then we kept rolling.

25 years, 40 doors and 28 APNs later we are selling and it's looking like we'll get a pretty healthy profit.

You can probably make a lot more money in a different way, though, by picking better deals rather than choking down adjacent properties.

I never went vertical but I spent a lot of time laying out condos on some land we owned with an architecture firm.

The best way to structure condos is for fee simple sale, you may not even need an HOA. That lowers your risk as your warranty against construction defects is going to be for a year rather than 10.

That means that the buildings are structurally independent, not attached.

Rental townhouses and for sale townhouses are different products, the for sale ones tend to be both wider and larger overall, with more parking.

Overpriced for who? You never know how someone is underwriting their deals. There's a dude down the street that is married to a surgeon, so he can write off his passive losses against his husband's income. He does not follow the 1% rule when buying... because he doesn't have to in order to make money.

I haven't read all the responses, but think of cap rates like bond yields, and then recall that there are people that buy bonds with negative interest rates because they can lock in their losses.

In that environment, a 4.5% cap rate is incredible.

A duplex in an SFR zone isn't necessarily a problem. The bigger issue is that the tax rolls don't reflect two units.

You need to get permit records to know what you are dealing with.

If you are asking this question here I don't think I would advise you to dive into the deep end and legalize the unit as an ADU.

Where?