All Forum Posts by: Jared W Smith

Are you trying to back out of the home purchase? or deal with how to get Reno completed? Bear in mind the due diligence in finding a requirement like this wouldn't be shouldered by the bank/loan. They do not know the local codes and requirements. 

I'd advise a serious discussion with your architect, engineer and contractor on the options for satisfying the FEMA requirement. They may need to sit with code officials to iron it out. There may be more than the two options you mentioned. Or a variance for a comparable option the municipality deems as a resolution. @Danielle Ronin

I agree totally with Seth. I will add to this by saying you must also be comfortable with the architect you select. They must communicate well and understand your goals and project program. 

Unless you are familiar with working with engineers then have your architect work with sub-consultants they are familiar with and include in proposal. The proposal should detail everything that will be completed for "$45k". From your description, it sounds as if your first architect doesn't believe you are serious about the project. Ask them their process because it's no walk in the park.    

 Didn't see this before I responded but... ^what she said. 

I think you are referring to Fiverr. I would use caution as their quality and attention to detail is questionable. Let me ask you what needs to be drafted? Is this something that will need to be filed with a City municipality? @Jennifer Matsumoto

There's a big difference in an Architect and a draftsperson. @Daniel Siapin Also, for your project why not just get another Architect? A draftspersons may not be privy to all the codes and zoning ramifications. Going the route you are suggesting could be costly if there are errors in the design, layout, egress, or any other critical matter. This all depends on the project size and complexity.  

And FYI- this is illegal in NYS. As an architect, I cannot merely sign and seal a set of documents that I did not create or have direct control over their creation. So you bringing a set of drafted drawing does help in establishing your end goals and design intent but I would likely need to redo some if not most of it. Check your local laws.    

I’m not completely understanding what your post is for. Are you soliciting an architect’s services on forum or describing what is entailed. What you’ve described is pretty standard for a Philly Architect. You would not have to describe half of what you’ve said. 

Best to contact local firms with what you’d like and see which meshes well with you. AIA is a start. @Damani Hamlet

You can start here at the AIA (American Institute of Architect) search page. Make sure to select California and single family type from the drop downs to narrow field. @Adam Toh

https://architectfinder.aia.org/frmSearch.aspx 

Precisely what Morris has said. I have a Coop in Yonkers which I've rented out. Also you need to find out if there's a sublet/rental fee. My building does and it eats into the cash flow. The coop was my first residential purchase for my wife and I about 10 years ago. We've since brought a SF house and have more flexibility for using the equity. Honestly, coops are not the right avenue for investing.  Too many board limitations. As soon as I am able I will unload it.  

Hello ALL,

I've steadily been diving into RE investing. I'm in the research and learning phase. It all began with Rich dad, poor Dad book, then a bunch of books by Dave Ramsey & Darren Hardy about a year ago. Then most recently in Jan. 2018, I dove into E-myth Revisted, (of course) Ultimate Guide for beginners from BP, The Richest Man in Babylon and the Millionaire Real Estate Investor. I've gone through about 150 episodes of the BP podcast as well as about 300 episodes of the @Joe Fairless podcast. I am headstrong that this is what I want to do.. and need to do to achieve financial freedom and build wealth. Not looking for fast cash. 

I've begun looking at properties, I'll admit not nearly as much as I should. At some points I am ready to jump in, at others I am overwhelmed and feel as though I am missing something. As I've heard the first is the most difficult.  

Are there an established local RE investor willing to grab lunch or coffee in NYC to talk through what they're doing and lend some insight to a newbie? 

Strongly disagree with this. If you are unfamiliar with construction and a home's systems, then something wrong could be staring you in the face and you not know. Having 4,000 inspections under your belt is a totally different realm than someone without this level of experience. 

Get the inspection. 

@Alex Alleva $19k is nothing for a 4-family. I pay $13k for my own single family in Westchester. (Grieving taxes as we speak to a more manageable amount.)    

As I've heard on the podcast and within my own research, the taxes are just part of the expenses to consider in a prospective property. Check with your accountant for legality of deductibles.