All Forum Posts by: Trevor Baker

My partner and I have flipped 6 houses in the past 4 years, so we do have some decent real estate knowledge.  Because of the changes in the market, we have stepped back from flipping a the moment and are looking for other opportunities.

One option we are considering is ground-up construction of a 4-6 unit apartment building in the North Hollywood, CA area.  As an exercise, we've located a house available on a 7900 sq ft lot for $968,000. The listing stated, "It's zoned LARD1.5, non HPOZ. This property is also tier 1 TOC for an additional 35% increase in units to build 6 units." (What is tier 1 TOC?)  It is also just inside an Opportunity Zone.  The best comp is a new build 4-unit, that's two blocks away, that is pending at $3M.

Having never done this before, what would you recommend as the steps moving forward?  Should we try to find a GC who can do the whole project from plans to permits to demo to final finish?  Does being in an Opportunity Zone give us many benefits?  Is $250/sq ft a reasonable estimate for construction costs?  We realize that the whole project will likely take 2-3 years to complete.  The exit strategy could either be to sell it at the end, or keep it and rent out the units.

Any thoughts, suggestions or advise are greatly appreciated.

The new flip house is in La Cresenta.

Michael, yes.  We're already onto the next project!

My partner and I have just acquired a flip house in La Cresenta. We need good, budget-conscious insurance for this short-term project(1-2 months). Any referrals?

My partner and I have just acquired a flip house in La Cresenta. We need a good, inexpensive HVAC system for this 1300 square foot house. Looking for a great deal!  Can anyone recommend a reliable, budget conscious HVAC sub-contractor who works in the La Cresenta area?

Looking for recommendations for a good, reliable, not-terribly expensive contractor to remove the wall between the kitchen and living room. This is a house in Woodland Hills, built in 1957.  The house right next door had it done, so I know it's "do-able"!

I've got one quote already, but it's always good to get multiple bids. Want to do this soon! Escrow closes tomorrow!

I'm looking to purchase an industrial or automotive commercial property to house my classic auto parts business.  I've been leasing a space in Simi Valley for years, but would greatly prefer to own the property my business is in.  I need about 2000-2500 square feet for my business.  I'd like to buy a property that is large enough so that leasing out the remaining space covers most if not all of the mortgage & expenses.  When looking at smaller properties of 5000 square feet or so, the figures don't seem to pan out.  So, I'm thinking I need to look at much larger properties so my usage area is a much smaller percentage.

I know that multi-family apartments are valued by a factor of the rental income, and that commercial loans are based mostly on this.  Are industrial/ automotive properties valued and loaned against the same way?  I have about $120K-$150K available for the down payment, which I realize isn't a lot when considering a multi-million dollar property, so I'm hoping the rental income will play into my ability to qualify for a loan.  What are my options?

Also, are there any industrial or automotive properties in the San Fernando or Simi Valleys that have or allow a residential component for the owner?

@Gabrielle Martin The 4-plex you purchased sounds great!  I'm looking for something like that.  I'd appreciate any referrals you might have!

I'm in California looking to invest $40-$100K in some out-of-state properties. I'd like to get some long term cash flow out of them. I'm open to SFR's or multi-family. I run another business full time, so I need to be fairly hands off. I've heard good things about Jacksonville, Cincinnati and Phoenix, so I'm digging a little deeper into these three areas.

I've been referred to what looks like a good contact in Euclid, OH who can find, rehab and manage some SFR's in that area. But, before I put too much effort into that area, I'm wondering if there may be a better upside to Jacksonville or Phoenix. Phoenix doesn't have the super cold weather that could delay renovation work in Ohio in the winter and is much closer to me.

Of course, I know that every deal is different and I'll run the numbers before investing.  But, before I start digging in, any advice as to which of these areas looks better in the long term?

I'm also in California but looking to start investing in Ohio. I've been given a referral to a contact who has a few potential SFR's in Euclid. @Christopher Markey I'm curious how you're progressing .