All Forum Posts by: Allen Maris

Anyone interested in doing a meet up in the Santa Ynez Valley area?  

Allen

Date, time & location, TBD depending on who wants to meet up.

keywords: Santa Ynez, Solvang, Lompoc, Santa Maria, Buellton

Hi Andrew,

I'm not in Utah, but the only thing I can suggest, which I would do here is to check comps, see if you can find comparable units, with and without garage and see if there's a variance.  Talk to some property managers as well in the area, they could give you a sense.

Certain areas almost mandate a garage and if you don't have one, it's harder to rent and rents for less. Other areas it's not normal to have a garage and could bring a premium.  

Prepare yourself that the numbers will be a long term thing.  I doubt you'd recoup the investment in less than 5+ years.  But again depends on construction costs and the potential rent.   

Good luck.

Allen

Hi Jordan,

You can check the specific laws in Florida, but I've never heard of a limit.  Seller financing now has some strict rules because of Dodd-Frank on the seller's side, but not on the purchase side.  

Subject to's are more of a matter of who's paying the mortgage, so again, I've never heard of a limit.

Anyway, best to check with an attorney in FL.  If you don't have one, you may be able to find one of those pay services online that lets you submit your question to a licensed attorney in FL and they answer it for you.  That constitutes real legal advice.  Unlike what I'm giving you, which is just my opinion on what I've heard.  

Allen

Hi Justin,

Depending on where the property is, the rules are different.  In California where I'm at, because of earthquakes, retaining walls that are on a steep grade, have structures within a certain distance, higher than 36" (or 42 maybe, can't remember) all require a permit.   

Some counties have permits for demo, some don't.   If it were me, I'd look into that stuff, get a couple contractors or engineers out to look at the retained earth and then decide.  If it were just holding back some yard, with no structures relying on that soil, I'd rip it down myself with a jack hammer and sledge hammer.  

From the looks, seems you're in the 4-5' high range?  That's a pretty decent grading job to slope it so it doesn't keep collapsing on you.

Allen

Hi Derek,

Depending where you live, you might be able to track that info down by checking with local companies that do the work.  I was able to find the one that did the installation in the 80's and they had records still.  Or maybe I was lucky and not all the companies will have that info on hand. 

Allen

Hi Jason,

I'm an agent and landlord in CA.  Unless the laws changed in the last couple months, I've never heard anything about it being illegal to require it.  Maybe it would be illegal if you mandated which company, but I'm guessing even that is a stretch.

On the CA Consumer Affairs page about renting, there's even mention that a landlord could force you to carry rental insurance if you want to have a waterbed.

Of course you could always charge a little more and include it in the rent price.

I'm not an attorney, so probably best to check with one for the real answer though.

Allen

Hi Paulette,

Welcome to BP!

Hi Everyone,

I'd like to get rid of a building in OKC.  I'm focusing on hometown investing these days so this one needs to go.  I'm flexible and willing to get creative with you.  It needs some work but it's a good structure, with a 5 year old roof.  Looking for 130k cash, or subject to @117k with 15k down, payments $750.  Rents are at $1800, currently 1 tenant runs the building and is on a master lease, month to month.  Will deliver vacant so you can get in and clean things up and rent to whom you want.

I'm flexible and can work with your situation. 

PM me for more info.  Serious investors only that will follow through, no interior access until we have a signed agreement contingent upon the inspection and finances to your satisfaction.  

Allen

Hi Greg,

Are you planning to do anything else to the house?  

Is it in a flood plain, is that why it's raised and not on slab?  If not prone to flooding, my instinct would be to use similar looking material as the side of the house so it looks like it continues to ground and then landscape around it.  The front porch area you could do a different material like lattice or leave it open with bushes around.  I don't think people would expect a raised porch to have siding down to grade.  
Allen

Hi Everyone,

Long time investor, new agent here.  If anyone is looking for an agent that understands investment properties, let me know and I can help out.

Allen

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