All Forum Posts by: Colin L.

@Ryland Taniguchi what is the advantage of the JV deal as opposed to seller financing?

awesome post!  I'm actively looking for similar deals in San Diego so this is great info.  

-Do you find that you are able to offer more than other investors who are maybe just looking to renovate?

-Any tips for negotiating the JV deals you talk about in your post on land development? (link for those interested: https://www.biggerpockets.com/forums/44/topics/359... ) 

thanks in advance!

@Sarah D. for soundproofing between floors, fill between the joists with R19 batt insulation, and install metal resilient channels at right angles to the floor joists, and then install your drywall to the channels and not the joists.  Making sure all joints btw drywall are property sealed is important as well.  It's not perfect (1" lightweight concrete topping over the plywood would be even better!) but it will help a great deal.

Welcome to BP!

I like this idea.  When I was looking for a primary a few years ago I tried the 203k route but had trouble finding sellers interested in my offers because the market was so hot.  It is still fairly hot due to low availability of fixers, but there may be a few opportunities if you are willing to pay more than cash investors.  Let me know if you need any help with design ideas, zoning, etc.

biggest difference: no snow!

good luck and feel free to PM me if you need any help with zoning questions.  

The biggest issue would be to check with your local planning or building department to determine if the property you are looking to purchase is zoned for multi-family, and if so how many units you can build.  Even if it is not zoned for multi-family, some cities allow granny flats/guest houses/accessory dwellings in a single family zone.  

why do you have a 4.5% commission and 10% sales cost? Wouldn't the commission be part of the sales cost?

I'm assuming this is in SD city.  If so it depends on how many units you set aside for low, very low, or moderate income but the density bonus maximum is 35%.  So for instance on a 1 acre lot you can build 1 unit per 1000 SF for 43 units total +35% bonus = 58 units.  

Here is a direct link to that chapter:

http://docs.sandiego.gov/municode/MuniCodeChapter14/Ch14Art03Division07.pdf