All Forum Posts by: Henry Tsao

I appreciate the messages so far.

I think the first poster is correct about over my head but that doesn't mean I can't be doing the mental exercises to get ready to be able to do the things I mentioned. 

@Curt Davis Do you have any recommendations on the actionable items? I just want to get a feel for what are the questions that needs to be asked and what are the required information that needs to be gathered to be able to move the process to the next step in a development cycle.

As I mentioned, for example when I'm talking to an architect firm or a GC, what are the preparations I need to hold the conversation with them? 

Hi All,

I’m an aspiring real estate investor who would like to step into the Apartment Real Estate business focusing on either acquiring apartments and then fixing up the rental rate or acquire land to develop a new apartment on. I come from a family that’s in the real estate business but from very different markets (Asia) so they can only provide me so much insight about investing in America. Therefore, I want to ask some questions to the awesome BP community!

My need right now is some actionable items for me to take for starting out in finding these deals. From most of the blog posts, a lot of the information is about how to evaluate the deals or where to find the deals. However, what I'm looking for is the actions to take when these steps are reached. For example, should I be cold emailing CRB's for leads? If so, what should I be including in my email and what should I be asking? If it is a spec build, at what point should I contact architecture/engineering/construction firms for information? What questions/requirements should I gather from them? And lastly, if I do find a deal on the MLS, what is the action to take to move the process further? What should I be emailing the broker/seller about and what information should I be sharing?

These are the kinds of questions I have all the time that require answers that are more direct. If anyone could help, I’ll greatly appreciate it

I’m not too worried about the financing aspect of Real Estate (as I feel like that is the most controlled part of it) so any actionable items/tips for me to start finding and acquiring land/property AS WELL as gather enough information that will make me confident in buying the land.

@Kevin Z. My family is the investors for the development that goes on a private scale. Mainly doing this in Asia but my sister and her family are still in Arcadia doing this as a side investment. I'm in Seattle working and want to understand the market more since one day I will be rejoining my family's business

You're stats about that house goes quite closely in the range that we do in Arcadia, they generally look for lots with 10000-20000 sqft.

We focus on just finding the land to buy and hiring a contractor ourselves. But if you're in the Arcadia area I would definitely recommend Mur Sol Construction built houses. As an Asian in a largely chinese dominated city of Arcadia, they know what we want in terms of luxury, build, and cost.

@Melvin Yuen $250 /SF in San Francisco??? Wow, that is really expensive for something not considered High end. Truly an eye opening information...

I guess LA ain't so expensive after all...

Sorry about the lack of parameters. I would say this is just a fun perspective to see what all the construction costs around the country. I agree that 50 miles can make huge difference but that is also why I said to include the city you're in =)

The cost is purely construction that does not include, inspection, holding cost, and land acquisition cost.

Some people include permits and demolition in it, but I think that can be left up to the responders!

Hi Guys,

I just wanted to ask all the spec home builders out there how much it cost for you for your construction per square foot? I feel like this can give an idea of the cost of construction around the nation.

So if you can leave, City, State, Cost, Tier of homes (Optional) it would be super helpful!

I'll start with my family business' numbers

Arcadia (Los Angeles), CA. $160-$185/Sqft High-end to Luxury

@JScott, Thank you for the quick reply and great resource! I'll be sure to go through everything you wrote htere

@Edwardburns How do you check with the zoning laws?

Lastly, my question would be how to search for these potential land deals. What are the numbers to look at and how to find these old crummy houses?

Hi Guys,

I'm a newbie to BP and I tried searching for threads on this topic but I couldn't find any =(.

I see that from most posts, there are 3 RE methods: Buy and Hold, Flip, and wholesale. But what about buying houses for the land then redeveloping it yourself (A True Real Estate Developer!) This includes tearing down the house and build a brand new one

Does anybody have experience with doing this? Are there any resources to help someone thats aspiring to go thru that (Family Trade that I want to learn myself). Lastly, What would be the best way to look for land over the houses on MLS?

Thank you to all the great folks in BP =)