All Forum Posts by: Dennis Maynard

No to the ADU. Has to be where you live. Many Airbnb owners are turning to short term rentals instead. Here is an article on the rules.

https://la.curbed.com/2019/7/1...

It depends on what you are looking for.  Was that a land deal turned new construction?  Or was it a full flip that required a full investment?  Meaning to the studs, moving walls, replacing everything with HIGH END equipment.  There are pros in the area that are operating, but their ability to move product has been slowed some.  Even at the lower end flips in Inglewood, we are seeing a slowdown in buyers purchasing.  It's all about product and price.  If you over priced, the buyers will turn their noses up.  Feel free to reach out if you want to chat.  I'm in the area you are quoting.

Hey Chris, I'm happy to meet up.  Don't know of too much out here.  DM me.

In addition, we will see less development of housing, increasing the rate of cost as investors shy away from California, and look to build in other markets for better returns.  Think Atlanta, Austin, Florida, Vegas, Arizona, etc.

@Kyle J.  Totally agree with you.  Does that mean we all should roll over and not make our voices heard.  The only reason these yahoos get elected is because we sit here quietly taking it.  It's time to make some noise and push back. 

@Theresa Harris California uses escrow and title companies to facilitate transactions for the most part.  Fundamental questions:  Did the buyer remove contingencies?  Did you issue a notice to perform? 

In order to get out of the escrow, you will need to put the buyer on notice, ask them to perform, and if not, ask them to cancel escrow.  If they won't, call your attorney. 

Yeah, call Gavin Newsom now and tell him not to sign it.  Here is the link.  You can also send an email.  https://govapps.gov.ca.gov/gov...

LOL.  What kind of soap do you like?  The answer is very subjective and depends on where you are.  Follow the statistics and especially the jobs.  What we are seeing right now is people are leaving California.  LA and SF each are loosing about 5000 people per month.  Times on market are increasing and we are seeing more and more price reductions and re-listings.  That said, we still see the super great houses in great locations with great staging go very quickly.  Buyers tastes have become more refined.  Hope that helps.  Feel free to ask questions.

WARNING!  There is a new ordinance / law this is putting AirBnb owners out of business in Los Angeles.  DO YOUR HOMEWORK!  I just took a listing for an owner who was running Airbnb and it is no longer allowed after October 31st.  Check into this! 

https://la.curbed.com/2019/7/1...

@Justin Ellis  has it right.  Glad you got your answers...

Actually, there are several bases to use for valuation on this one, some that you might not be considering.  @Brian Garrett is correct, you don't use Cap Rate on anything 4 units and under.  The reason is financing.  Happy to chat if you need me.