All Forum Posts by: Sharon Wu

Check with your city's planning department. 

Not sure which state you are in, but in California, if you are owner occupied in one, you can have a junior ADU in addition to the Additional unit even in the R-1 zone. You might want to check with your zoning or planning department for the design guideline for set back and all other stuff.

I do.  My first couple projects just learn by partner with other experienced friends.  I took couple courses from Realtors Land Institute but I am not sure if you can take them if you are not a Realtor.  

Are you looking for 80% LTV on Performa (ARV in the fix-upper language)? Typically bank don't land that high on construction loan, but if that's your primary residence and your household income qualified, you might have a little chance if you have good relationship with the bank. That's how we do it with our previous house in Los Angeles area. Feel free to reach out to me if you need more details.

Since you don't have to pay taxes with the 2-out-5 rule, it's a good timing to sell and reinvest. 

Yes, I agree the market is insane.  I am a realtor/investor work in LA.  Luxury market is just one of the products that require special target marketing skill set from the realtor.  Interested to find out what you up to.  Let's connect. 

Interesting, I would love to find out more about this too. 

The catch is usually that buyer "assuming" it's buildable, but after the DD find out it's not or it requires a lot of work to make it buildable.  However, if you know what you are doing, the development process could be quite profitable. 

Boy, what are you thinking?! You have the greatest advantage just by owning the land you inherited.  If the number without paying for the land still doesn't work, what could be?  In my state, you can pull the owners permit, you don't need to have the contractor license, you just need a license and bonded contractor to do the job for you.  You just need to do your due diligence like most investors do, getting the bids, finding a good contractor etc.  Wish you good luck!

Bank does not typically lend on land here in Southern California. Even if you can get the loan, they usually only loan up to 50% loan to value.  If you have the approved building plan and ready to build, you might be able to get the construction loan which typically is 12 month some could extend for another 12 month.  I can only speak for the properties in California.  Don't know how other states work.  Hope that helps.