All Forum Posts by: DG A.

can you owner occupy? How many units in your buildings? 

Hey Calvin, 

A few things to consider. 

How big is the lot your property is on? You need to have a property with a certain size lot in order to add units. Check out this table: https://www.municode.com/library/ca/oakland/codes/...

This is what you're looking for: https://www.screencast.com/t/Xkyp3OZWk

I Oakland, for a building with 3 units or more you need to have a lot sized at 7,500 sq ft.  --- From the zoning code it says, an RM-2 zoned lot can have "1 unit per 2,500 sf. of lot area"

If you don't meet that lot size requirement you'll need to make a request for a variance, then post notice about the desired change in front of the building. From there if no one objects, the city will give you a conditional use permit. That's the process as I understand it. I've got plenty to learn here though.

 

I'm considering doing this for my duplex as well. My lot size is 7,467 sq ft --- just under that 7,500 sq ft mark. I'm hoping that when I'm ready I can get the conditional use permit. It's either that, or try to buy 33 sq feet of land from one of my neihbors. haha...

Hi @David Faulkner

Thanks a lot! We've got an escrow company that's helped us out a bit, providing a farm report. 

I googled "what is a title binder?" and learned a bit about what that is. I'm curious, how does this save you money?

Thanks again!

Hi BP-Amigos, 

I'm working with my dad on a couple of leads for a flip. We've got 2 different home owners in a distressed situation that we're doing some verbal negotiation with. I've worked with a lawyer to write offers for me before, but it costs about $500 per offer.   :O

Here's my question: 

Is it possible for me to write offers to these homeowners myself without a real estate license? I've searched the interwebs pretty hard, and I can't seem to come up with a "blank" version of the standard California Association of Realtors "Purchase Agreement."

Does anyone have experience in this area? Are one of us required to have a realtors license to write an offer in California?

Ask the listing agent to represent you. Have a different agent (the listing agent) on every property. 

@Stephan

Do you have a link to where you see this going on the ballot?

^ I wanna know too!

ahhh true. So worst case scenario it's the retail investor that gets screwd. That's cool!  Lol!

that makes a lot of sense.  What do u think happens if the IPO sucks?

Also, I don't know a ton about IPOS, but usually investors and founders get to sell stock at the IPO. 

Employees, and non-preferred stock has to wait 6 months before they can sell, because of insider trading laws.  Usually at that time, stocks are worth waaaay less. 

This article points out the mechanisms at play: 

http://fortune.com/silicon-valley-tech-ipo-market/

If there is a vacant unit in the building, doing an OMI on an occupied unit would be considered a presumption of bad faith. Check it out in the ordinance here: http://www.screencast.com/t/8bsIVg3pCm