All Forum Posts by: Tim Holmes

One key phase "I feel like" reminds me of an old adage. "When the heart makes up its mind the head doesn't stand a chance. If your in for the long game the debt free 10 years on the backend is where you will really appreciate the increased cash flow. 

I had an ADU in Spanaway and the zoning there was owner must occupy one or the other. Also 1000sf max on ADU. Other areas of Pierce county allow ADU to be 1200sf.

Bo number one you have to sell yourself. If the seller doesn't believe in your ability to perform, the deal most likely will not happen. You also need to show the seller how the note is going to benefit them, netting more money due to interest paid to them. It is important to meet their needs. They may need a down payment thats big enough to get them into their next place. Reassure the seller that you have systems in place to be sure the taxes and insurance will be paid. Lastly be sure to use an attorney that is accustom to structuring notes and knows the laws of your state.

@Bo S. I sold the 4 acres 2 years ago to a developer with a interest only note with a ballon after 7 years.

PM me after January 3rd if you still need help and I will get by there for you.

Hey Joe I'm in Seattle for the holidays. However I live in Canton Ms and I can do a drive by the first week of January when I get home. You may get it done before than but if not, I'm willing.

Good job staying the course Coles.

Talk to planning to see if it is zoned for it. If it is, get your contractor in there to give you a bid. Than you can run your numbers to see if it cash flows well enough for you.

@Aaron Zike. That's right only one ADU per property. Forget about the garage and the yurt and find out if the basement ADU is premitted before moving on this one. If it isn't, find out what it will cost to get it premitted. Unpermitted ADU's never retail as high if later you choose to sell.

@Aaron Zike. That's right only one ADU per property. Forget about the garage and the yurt and find out if the basement ADU is premitted before moving on this one. If it isn't, find out what it will cost to get it premitted. Unpermitted ADU's never retail as high if later you choose to sell.