All Forum Posts by: Account Closed

Teach martial arts, Amazon store selling electronics, day trading

I would still urge you to go modular instead of manufactured. I have a great case study in my area in Northern California wine country, there was a manufactured home that was very very nice they built great decks and made a grand entrance it was on 1.5 acres in wine country. All of the homes in that neighborhood with that much land sell for 1.5-3million however this Sat on the market and went in and out of contract for a year… then eventually it sold for 800k… I did comps because I was curious and this was half the value of all relevant comps of site built homes on the same street … 1.3million was the lowest comp and 3.4 million was the comp for a remodeled modern farmhouse that was marketed well. But this house with all the potential to sell at least at 1.3 million could not get over 800k because people where thinking of this as a tear down and just getting a lot in a 3 million dollar neighborhood due to it being designated with the stigma of manufactured. Had they bought modular in foundation they could have realized 500k more in value as the neighborhood appreciates, that was an expensive mistake on their part and they could not have saved more than 50k at that time 20 years ago. 

@Jesús Zazueta

Utilities are the biggest issue if you are outside of city services. Many prices of land that are cheap (especially in California) are cheap because they won’t pass a perc test for septic system, or they have endangered species restrictions and require expensive mitigation fees, you want to check for protected trees and plants, wetland restrictions, and you will want to do a geotechnical report to be sure you can get a foundation on there. So any property you want to buy you should try to negotiate a 3-6 month contingency period. Because you will need to do a lot of due diligence to ensure that you can build there. Also as a tip if you get all of this checked quick you can get your modular plan picked out and go through planning to see if there is going to be resistance to your build and even get permits to almost to be ready to break ground before releasing contingency and having to start paying interest payments on your construction loans. If you are financing this deal with hard money this can save you a lot of money! Even if you don’t finish permitting I like to know exactly what I am going to build and have it fully priced out and preapproved for the financing of the final product before I buy the lot.

Hello Jesús,

I have alot of experience with dealing with this issue. Everything  depends upon the rules of your planning jurisdiction. many counties and cities are opposed to manufactured homes. Have you considered a modular instead? Manufactured homes lose value fast, are much much harder to finance, appraise very poorly. If you go modular You can order them without roof/truss and install a steeper more attractive roof so since a modular on foundation is considered same as sight built legally and your house will not look like a modular home with a steeper roof and overhangs. The price will be very close to manufactured but you will not lose out on hundreds of thousands of dollars of future equity. Then your permitting and financing will be normal and allowed in all jurisdictions. 

Hello! I am Investor in Santa Rosa … I have not found any Sonoma county groups but I believe David Greene hosts a Bay Area group? 

growth in price is slowing and will slow more... yet hold value more or less, if you were here in 2008 you noticed the prices in sf and silicone valley held. Suburbs around Bay Area dropped quite a bit but not as much as the rest of the country... but then returned in 6 years. The area continues to hold great job prospects and famous colleges... and rich people around the world retire in places like Marin, Sonoma, Napa, Los Altos/peninsula, I would not bet on dramatic price drops nor dramatic increase. 

@Chris Reyes

My father died and had no money nor asset to his name to leave to his family... luckily his kids were grown and working in careers.... made me realize my young family with 2 toddlers would be in really bad shape if I passed early. So a “breaking bad” realization inspired me toward the goal of focusing on getting to $10,000 monthly “passive” rental income managed by property managers as my base for a family estate... now going further than that for fun of it since I like it so much.

I need to find the right person to bribe for a little less :(

Thanks for posting.

Recently got new funding source and am analyzing deals left and right hoping to take advantage of this opportunity. I have found way too many with potential due to our creative strategy. However I have found that creating spreadsheets or methods for organizing all of the potentials deals to keep track, weigh the pros and cons of each, discarded deals vs unanalyzed... etc is getting overwhelming and easy to lose track of all the different types of investments to choose from. Does anyone have systems for keeping track of multiple deals they are interested in and organizing the flow of deals of interest, deals to be analyzed, or something like that. organization is not my strong suit ;) What ever you find useful in your business might help us and others in the community! thanks in advance for any response.

@Todd Baldwin

Just watched your podcast interview... very good ideas! Thank you! it was very helpful to my own project right now in SF Bay Area.