All Forum Posts by: Drew Corwin

Drew Corwin has started 3 posts and replied 8 times.

You can utilize a website like Investor Lift to aggregate off-market deals. Most major wholesalers utilize the platform to dispo there deals or find deals to JV. For you, you may find a deal, but if not, you will find the contact information of people doing deals in your area. Call them up and give them your buy box and let them if they get a deal in that area, to call you first before they mass advertise it. Just getting on an email blast list achieves nothing, you are just seeing what has made it past the VIP buyers. Real estate is a relationship business, so call them up and create that relationship.

Hey Mark,

Thanks for response. That is super helpful. I've been on that website before but hadn't thought to reach out to the one posting on there. Will definitely start trying that out. Appreciate it!

Drew

0 Votes

Seattle, Washington

Hi all,

I'm a cash buyer in North King / South Snohomish county area. Typically I am a flipper but have done buy and hold. I have been trying to reach out to local wholesalers to get on their distribution lists but haven't had much success. Wondering if anyone had any ideas (or if you are a wholesaler) on how to get on a buyers list (and actually get sent the decent deals). The New Westerns and the mass ones that are picked over haven't worked for me so far.

Thanks for the help!

Drew

1 Vote

Seattle, Washington

Hi all,

Wondering if anyone has experience working with DADUs in Seattle. The location is in North Seattle and is a vacant lot.

The main question is for the pre approved DADU plans the city provides, does there need to be a main house/structure in order to use these plans or can a DADU be built as sole structure on the property?

Has anyone looked into this? Thanks in advance.

Drew

1 Vote

@Michael Haas

Hey Michael,

Sorry for the delayed response. Thanks a lot for the information. Very helpful.

With this condo-izing strategy, have you personally been involved on these? This is very interesting and I’ve actually stumbled upon one property currently on the market doing this.

I’m curious if there are comps out there for these condo-ized DADUs that have been sold for appraisal purposes.

Starting the research on these projects now. Are you an agent or are these something you’ve considered?

Would be great to touch base some time.

Drew

1 Vote

Originally posted by @Adrian Chu:

Originally posted by @Bao Chau Tran:

@Adrian Chu

Can you expand on what your experiences with this? Was it hard to obtain a permit? I am curious as I am buying my first investment home in Tampa Fl. I wonder if I can apply to add an unit like this? Thanks!

1. check if your jurisdiction allows detached ADUs

2. check if you can split ownership of the two homes

Hi @Adrian Chu, I am also in the Seattle area and have been interested in this hack, but I am still getting held up on understanding how you split the ownership of the home/property. Was this a difficult process, and who did you talk to in order to do this? Thank you in advance!

0 Votes

Seattle, Washington

Originally posted by @Michael Haas:

@Drew Corwin are you thinking about an attached (usually basement) ADU, or a detached backyard cottage (DADU?)

And are you looking into building one on a property you already own, or looking to acquire a property that has an ADU or ADU potential

Happy to share the info that's most useful to you depending on where you are in the process. Cheers!

Hey Michael,

Thanks for the response.

The situation is building from scratch a new pre-approved designed DADU cottage style in the backyard. Actively searching for the right property but looking to see if this is feasible before moving forward.

The main thing I am trying to understand is whether or not you can sell the newly built DADU separately from the main property.

Any help would be appreciated!

Drew

0 Votes

@Sherief Elbassuoni

Hi Sherief,

Thanks a lot for the response and the info.

Correct. I'm speaking on the expanded ADU that came into effect recently, specifically a DADU on a SFH zoned property within Seattle.

Just to clarify, you have had clients actually build one of these DADUs and sell them separately from the main property? Did the buyers of the DADU pay cash or were they able to get financing for the purchase?

Another question is how do you split/subdivide the property to allow for the sale of the DADU? What is this called when you do this? Condominimizing?

Would be great to hear how your clients did it to get some context.

Sorry for all the questions! Very interesting topic.

Drew

0 Votes

Looking to learn more about the new ADU regulations in the Seattle area. Any help or direction is appreciated.

I’ve seen posts on the BP forums of people selling ADUs as separate Condos/homes and wanted to see if this was legitimate.

From other posts it looks like in CA there are issues with appraisals for ADUs. Does this also occur in the Seattle market? Even if you do build a new ADU, will no one be able to obtain financing to purchase if it? Does the appraisal depend on the lot's zoning?

The scenario would be building one of the pre-approved ADU models.

A lot of questions but any help on who knows/specializes in these areas would be greatly appreciated!

Drew

1 Vote

All Forum Posts by: Drew Corwin

Drew Corwin has started 3 posts and replied 8 times.

Post: How to get on local wholesalers list?

Post: How to get on local wholesalers list?

Post: Seattle DADU question

Post: Seattle ADU Information?

Post: THE ULTIMATE SEATTLE HOUSE HACK (no, it is not renting out rooms)

Post: Seattle ADU Information?

Post: Seattle ADU Information?

Post: Seattle ADU Information?