All Forum Posts by: Christopher Aguilera

I'm currently trying to Refinance my home and the lender is letting me know that I can get a lower interest rate than 3.5% but my closing cost are going to be about 2K more.

They said it will drop to about a 3.25% for the additional 2k.

Which option is better:

Stay at 3.5% interest and save 2k.

Or add 2k to the loan closing cost and get the lower interest rate at 3.25.

Please advise, thank you!

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Hello BP,

I'm just trying to network and expand social circle and get to know some investors in Las Vegas Market. I'm new to investing and would like to talk to some of you and help you in whatever I can. I can analyze deals base on your needs or anything to do with your real estate criteria.

Please dont be afraid to say hi and introduce yourself.

Talk to you soon!!

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Originally posted by @Eric Teran:

@Christopher Aguilera contacting zoning as @Greg Dickerson mentioned is your first step. However, they will not tell you what can be built. They will tell you the restrictions. Once you understand the restrictions then it becomes a puzzle until you find the right design to maximize the square footage of the building. If you are in a big city or county most likely most of the zoning information may be found online.

First find out the zone. Then ask the following restrictions, setbacks (front, side, rear), height (does the penthouse count?), FAR (floor area ratio which is the max SF for the lot), lot occupancy (how much area can the building take up on the lot), green area ratio or pervious surfaces (a lot of places now require soft scale or where water can collect and not drain to the storm drain), parking requirement per unit (can the parking be offset if near public transportation), affordable housing, any view corridors to preserve, is it a historical neighborhood, minimum size per unit, and any public enhancements required? This may be overkill but if you don’t ask all these questions (I have experienced all of these at least once in various projects) it may ruin your profit.

Once you are done with zoning you need to go to the building department. The two big question for me is if you go over three floors do they require something other than wood frame construction. The second is in theory you can add 10 more units. That will require a much bigger water meter, water lateral and sewer. How much do those cost to upsize? For example in DC one of my clients had an existing 3/4” meter and had to go to a 1.5” meter. He had to pay $10k. These items can kill all your profit.

Good Luck.

Thanks for all the great info Eric. It's a lot to consider and definitely will take some time to find out all the details with zoning and building department. I will contact them and ask these questions. I'll let you know what I find out from them.

Thanks again!

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Thanks Greg,

I will definitely call and find out and see if the property is big enough to maximize the unit count. It's a little over .5 acres but like you said just got to verify. Does the city provide all that information about property size, required parking, etc? Or do I have to find that somewhere else?

Thanks for your input!

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Good morning BP,

I came across a duplex that is in a zone approve to build upto 12 units. The duplex is pretty beat up and fair price for the market. What advice would you give to do my due diligence and make sure this is a true statement from the listing agent.

Any feedback or comments is much appreciated.

Thank you

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@Christopher Aguilera

Ok, I found out is not 16 units. There are 8 total units. But just as practice, what should I look for in the due diligence phase? And what questions should I ask my agent?

Thanks

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Good Evening BP,

I'm pretty new to BP and analyzing deals. I came across a property where I think the numbers look amazing. I'm in the process of finding more information and confirming all the income and expenses. Can some one let me know what should i include in my due diligence phase and what should i look for? what do you thing of the numbers? I over inflated the expenses for now and this is what i got.

Thank you for your help and input.

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All Forum Posts by: Christopher Aguilera

Christopher Aguilera has started 18 posts and replied 33 times.

Post: Refinancing my home

Post: Refinancing my home

Post: Refinancing my home

Post: Investors in Las Vegas NV

Post: Duplex with land approved to build upto 12 units

Post: Duplex with land approved to build upto 12 units

Post: Duplex with land approved to build upto 12 units

Post: [Calc Review] Help me analyze this deal

Post: [Calc Review] Help me analyze this deal

Post: [Calc Review] Help me analyze this deal