All Forum Posts by: Eddie Medal

@Matthew Forrest Thanks! Wish I had the background to subcontract the work myself but thanks for offering.

Fingers crossed other members have some referrals they can share?

Hey BP Members, 

I'm looking for any referrals for a contractor near Claremont, CA.

The project is for a SFH with an attached garage that needs to be converted into an ADU.

Any recommendations would be greatly appreciated? 

Thanks,  

Eddie Medal 

@Account Closed

I'm also thinking of purchasing a home in La Verne and converting a garage to an ADU. Would you mind sharing the cities ADU rules or pointing me in the right direction? I'm specifically interested in the maximum square footage the city would allow for a detached garage ADU conversion.

I've also looked at the city website and wasn't able to find anything on La Verne's ADU rules. I have had success in other city websites (Claremont, Glendora, San Dimas, etc.) but no luck with La Verne.

If it's easier, feel free to DM the info and best of luck with your new ADU!

I'm currently researching properties near the Pasadena, CA to buy the property and start an Assisted Living business. (5BD,2+Bath) We have close friends that are have been running two Assisted Living homes and are open to partnering with my wife and I to run the operations of the AL business. My wife is getting certified for the AL business and our partners are open to showing us the ropes to help us get started. 

The real estate side of the business will be completely separate from the partnership because I will be purchasing the home and our partners won't have the capitol or credit for home purchase. 

As the sole real estate investor partner, what should we consider if we decide to partner with folks that have experience in running assisted living homes? 

I'd also love to get the thoughts of savvy real estate investors on how they would recommend to structure this partnership?
For example, since we will own the property and we will share 50/50 responsibilities for the operational side of the business; Does it make sense to split the profits evenly for the AL business? I'd think this would be fair but would appreciate some guidance.

Any other insights welcomed!

@Jeremy Paschedag I know this is an old post but would love to get a quick recap on the step-by-step guide for SDIRA. I'm considering it myself. 

Thanks! 

@Jerry Padilla

Could you please elaborate more on there being no limitations on the refi?

@Dominique Taylor Hi!

I'm also an out of state investor and would love to connect with Levi. I just sent you a connection request.

Thanks for sharing!

@Account Closed Congrats on your first investment! How's the rehab coming along? The information you provided is fantastic since it's aligned with where I want to start. SFR with the BRRRR strategy within the price range of $80-$90k. I'm curious to know more about your cash flow target since a 40% down payment seems pretty high and "should" get you a decent monthly cash flow, unless I am missing something. Would you mind elaborating a bit more? How much cash flow are your targeting for?

@aiden mosher  I'd also be interested in a referral for an SA Realtor that specialized in Real Estate Investment. I'll send you a direct message. Thanks!