While permits for ULS may take up to 1.5 years, MDUD projects can proceed faster, provided all requirements are met.Let’s break down the numbers for San Ysidro, a promising area for development.

TERMS- Deal Type: Seller Finance- List Price: $580,000- Purchase Price: $780,000- Seller Carryback: $693,000- Total Entry: $100,000 Breakdown: Assignment: $13,000 Down: $87,000- PITI: $2,657 Breakdown: Principal & Interest:: $2,000 Taxes: $464Insurance: $193- Rent: $5,250 ($750-800 per unit)- Amortization Years: 28.88- Interest rate: 0%- HOA: NONE- Balloon: NONE- EMD: $5,500- COE: Feb 12, 2025- Occupancy: Occupied, Occupants staying post closing- Title company: PROPERTY DETAILS:MULIT-FAMILY7 Units - 2B/1B per unit- Living sqft: 5,200- Year Built: 1940- Age of Roof: 1- Age of HVAC: New- Age of Water heater: New- Condition of Electrical: Good working condition- Condition of Plumbing: Good working condition

At least, if you don't want issues down the road tax wise and if the government finds out it could cause some serious legal issues.

I have went down the path with 3 different banks and they all said the same thing.

Then refinance the house and pay down your HELOC. 

Things snowball on the way down.  

Success in this business comes down to consistency and building strong relationships.Let me know if you'd like to further connect - I'm happy to provide any guidance. 

.#4 Closing costs look super high, but they may be quoting you some kind of rate by down.#5...Hopefully your vacancy isn't 8-10%, but always tough to tell. 

Some clients are putting down anywhere from 5k-125k and getting rates in the 2s and 3s for an investment property! 

And doing a back of envelope math of 50% down to SEV, then ~69 mills rate (18 mills added for investment property) means ~$28k in tax footprint.My current understanding is: The Taxable value of the house will be subjected to re-assessment.