All Forum Posts by: Marty L.
Marty L. has started 5 posts and replied 24 times.
Post: Ducks in order, looking for a KCMO Agent
- Real Estate Professional
- Burbank, CA
- Posts 24
- Votes 2
Hey Steven
Our partner and I are both in the hunt for KC and KCMO properties to flip and would love to connect and chat about the heartbeat of the city. We would like to start looking thru some properties.
Would love to chat on email or phone when you are available
Looking forward to establishing a great relationship with you, thank you!
Post: Ducks in order, looking for a KCMO Agent
- Real Estate Professional
- Burbank, CA
- Posts 24
- Votes 2
Finally have the ducks in order!!!
Now looking for an agent who can help acquire foreclosure in the market.
Any leads or helps is appreciate, thank you in advance!
Post: Pre-approved for a loan in Cali., Can I use this Out of State?
- Real Estate Professional
- Burbank, CA
- Posts 24
- Votes 2
Originally posted by @Sebastian Marroquin:
@Marty L.
I am exploring an addition and got a rough estimate of 50k all in on a 900sq foot ADU. If I ever move out to a different neighborhood I will reconsider. I do have equity on the property but I dont plan on using that anytime soon.
: sebastian I agree with @Ami Singh : 50k for a new construction Adu is very low (which seems good) but a bid that low may hurt you more than help you. Thats $55 per sq ft. Even Contractors that are not making any profit cannot make that number work between just material and labor.
The lowest I have heard a contractor do it for (with no profit) is for about $80 per sq ft.
If you have a family member contractor (that knows what they are doing and can do it in a timely manner) will still be at around 90/100$ per sq ft.
I would cautioned you to go with someone like that. They just won't finish the project...
Then you have plans to build ($5k to $10k ) and city fees: $5k to $20k depending on city.
At this point in my life: I know that its always good to negotiate on price but also that people that are good at what they do, timely, good communicators, knowledgeable, ethical and honest deserve to make a reasonable profit.
Thanks SO much for that detailed response! I agree with you 100% that this is a very low price. I am waiting for him to build his $50,000 ADU and I'd like see how that turns out. If I get more info or get a bid proposal I will post it in here!
Post: Pre-approved for a loan in Cali., Can I use this Out of State?
- Real Estate Professional
- Burbank, CA
- Posts 24
- Votes 2
@AmiSingh
Thanks for the reply! A BRRRR investor bought a property in my block and I got to know him. He will be building one for his property and he mentioned that If I liked how it looked, he can do it for me as well.
Post: Pre-approved for a loan in Cali., Can I use this Out of State?
- Real Estate Professional
- Burbank, CA
- Posts 24
- Votes 2
@KierraUnderwood.
Hey Kierra! I would love to connect with you and contact! Please PM the info or reply to this thread
Thank you for your input!
Post: Pre-approved for a loan in Cali., Can I use this Out of State?
- Real Estate Professional
- Burbank, CA
- Posts 24
- Votes 2
@Sebastian Marroquin
Thank you so much for taking interest on my post!
I am exploring an addition and got a rough estimate of 50k all in on a 900sq foot ADU. If I ever move out to a different neighborhood I will reconsider. I do have equity on the property but I dont plan on using that anytime soon.
Post: Pre-approved for a loan in Cali., Can I use this Out of State?
- Real Estate Professional
- Burbank, CA
- Posts 24
- Votes 2
@Jason Kudo Thanks for your input sir! Very true, I believe that the Pasadena/ Alhambra or any So. Cal market has a higher point of entry and this is why I considered (still considering OOS investing).
Post: Pre-approved for a loan in Cali., Can I use this Out of State?
- Real Estate Professional
- Burbank, CA
- Posts 24
- Votes 2
@Aaron K.
Thank you for your reply! I will look into Pasadena/ Alhambra but selling my primary is not my intention as I house hack this property as well. And as far as equity , I don't plan on touching this equity anytime soon.
Post: My first rental purchase EVER!
- Real Estate Professional
- Burbank, CA
- Posts 24
- Votes 2
Congratulations! What made you choose Indiana out of all places?
I am also very close to jumping in OOS investing and would love your feedback!
Wishing you the best of luck!
Post: Pre-approved for a loan in Cali., Can I use this Out of State?
- Real Estate Professional
- Burbank, CA
- Posts 24
- Votes 2
@Aaron K
Thank you so much for your response my good sir! I have a semi hatched out plan. I can either use Owner Occupied on that property and turn my current home into a rental (but moving the fam to AV from Burbank is a hard sell lol) or buy a rental at Antelope Valley @ 20% down conventional loan.