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All Forum Posts by: Colin L.

Colin L. has started 8 posts and replied 237 times.

Post: Property Value is higher than rent cash flow.

Colin L.Posted
  • Architect
  • San Diego, CA
  • Posts 244
  • Votes 101
Originally posted by @Tommy Sowell:

Hello

Back in 1994 I bought a triplex for $110K in North Park San Diego that the bank had repo at $220k. I thought how can anyone make money at $220K. That triplex sells for $550K right now and twenty years form now someone will say remember when you could buy a triplex for just 500K. By the way I still have that triplex which rented for $400 a unit in 1994 and now rents for $1250 a unit. Keep the property if you can.

Thank You

Tommy

 A triplex in north park for 550k is a steal!

Post: Denver, CO Live/Work Rehab - Micki McNie

Colin L.Posted
  • Architect
  • San Diego, CA
  • Posts 244
  • Votes 101
Originally posted by @Micki M.:

The biggest lesson I'm learning on this project, is don't get married to your concepts unless you have unlimited funds and patience.  Sound familiar to anyone?  As soon as you tell your team (structural engineer, GC, MEP, Architect) any of your cool ideas, they'll start telling you why it's problematic.  When it's important, you can stick to your guns (wow factor items) but otherwise there's a lot of deferring to the path of least resistance.

For example:

I'd like the spiral staircase to the roof deck located inside >> rejoisting roof supports, building a shed on top vs a hatch, possible bulk plane issues, taking up too much space to leave room for doors, $$$$ >> okay fine the staircase can stay outside >> team breathes a sigh of relief, I simply sigh

Also, I always want to start shopping for finishes so they're ready to go when we need them - especially since I look for those special finds that aren't available on demand - but there's no convenient place to put them before we've done floors and drywall.  So I roam Habitat and take pictures instead :)

Currently seeking: 

1. Denver street / grafitti / mural artist or community group to paint the side of my building (great exposure for their work, 50,000 cars/day)

2. electrostatic painter or auto body worker who wants to moonlight and restore my metal cabinets lowrider style (think glossy turquoise or black with pin strips)

 i feel like i've had this exact conversation w/ clients!  looking forward to see how this turns out.  care to share any of the numbers behind the deal?

Post: Considering making the leap from flipping to new construction

Colin L.Posted
  • Architect
  • San Diego, CA
  • Posts 244
  • Votes 101

Hey Vincent,

It sounds like an exciting project.  I work in Coronado so I'd be happy to sit down over coffee and walk you through the steps involved.  

Regards,


Colin

Post: New and Jumping Into the Deep End in Chicago

Colin L.Posted
  • Architect
  • San Diego, CA
  • Posts 244
  • Votes 101

congrats on diving in and getting started.  i'm hoping to travel down the same path as you.  how did you fund your first project? 

i agree with everyone here, drought resistant landscaping can add a lot of curb appeal.  check houzz or pinterest for ideas.  i'm no expert but my understanding is that new sod requires a lot of water, so if you go that route definitely check w/ your city and see what is allowed under the new water restrictions. 

Post: Best way to help reduce street noise

Colin L.Posted
  • Architect
  • San Diego, CA
  • Posts 244
  • Votes 101

here are a few options: 

-check that all wall penetrations and gaps have been properly sealed, including outlets and other electrical boxes.  this is probably the cheapest and most likely to get results.  i can't remember where i read this but a 1" x 1" hole in a wall is the same as having no wall, acoustically speaking.

-add fan or ac for white noise and ventilation while windows are closed.

more expensive measures:

-if there is no wall insulation, insulate walls with fiberglass batt.

-add 2nd layer of drywall over existing drywall.

-new windows.  depending on what type of windows you currently have, you do not necessarily need to buy "soundproof" windows to decrease outside sounds. if the existing windows are old or single pane, upgrading to your standard home depot vinyl will be an improvement.

Post: Should this contractor's bid still be given a fair consideration?

Colin L.Posted
  • Architect
  • San Diego, CA
  • Posts 244
  • Votes 101

On one hand its impossible to give an accurate bid without a full set of plans and spec's and that's part of why he is being coy with his estimates.  On the other hand his general attitude and lack of transparency throws up a lot of red flags for me.  What does your architect say?  I'm assuming he brought the guy into the fold (but maybe not).  If you trust your architect, his thoughts on the contractor should help you decide.  If I was your architect and this contractor was my buddy I would still tell you that if you are concerned about getting the best price, you should have this guy and 2 others competitively bid the job.  In the future, it would be best to be clear that this is your intention from the start.  In my experience, the contractors who we have the most success with have no problem being 100% transparent, and usually have no problem when the client wants to use a specific sub to save money (although we discourage this as it often leads to issues for the client).  

Post: Hello from Los Angeles, CA

Colin L.Posted
  • Architect
  • San Diego, CA
  • Posts 244
  • Votes 101

welcome!

Post: New Construction - Mixed Use - Obtaining Financing?

Colin L.Posted
  • Architect
  • San Diego, CA
  • Posts 244
  • Votes 101

Hi David,  congrats on the site, it sounds like a great project.  In regards to finding an architect, I would recommend researching and selecting a few that are experienced in similar projects and you like their style.  Bonus points if they are local, as they will be able to work through the permitting process more easily than someone that has not worked in your area. Narrow it down to a few and meet with them, bring a list of questions, and there is no reason that they would overcharge you or not take you seriously.  Let them know you are looking at several options (same for when you are looking at builders) and this will help you get the best price.  

Post: Building new homes? - I Need Advice - May take the leap

Colin L.Posted
  • Architect
  • San Diego, CA
  • Posts 244
  • Votes 101

$30k-60k for construction costs seems crazy low.  most builders i see on bp quote around $100-120 SF.