All Forum Posts by: Michael Evans

After listening to the Podcast 229, I was very impressed with Zeona McIntyre and her strategy to early retirement. How can I get more knowledge about the ins and outs of renting on Airbnb? Great job as cohost Mindy!

Permit fees are minimal compared to the potential fines for not getting a permit. Not to mention the cost of exposing the work that was done and then repairs after inspections. Cities do not just look the other way when they find work being done without permits. They can  "retag" the property meaning there cannot be any work done to the property in the future until it is resolved. It is like a skeleton in the closet. Sooner or later it will come out. 

get some tools and be ready to do the grunt work for at least 3 months

I want to repeal anything Nancy Pilosi supported

I liked the idea of sticking to "The One Thing" and not being all over the place with your business

It's a lot of the leg work but you can, and should do yourself (good education) If you don't have time or don't know where to start, you are in the right place. First you need to check the zoning with your city planning department. They will tell you how many units you can build and what is the maximum lot coverage for your property. It's usually a percentage of the total square feet of the lot. If you lot is 20k square feet and the maximum lot coverage is 50%, then you can build a total of 10k sq ft lot coverage

Then you should get a good Real Estate Broker in your area to tell you the completed value of the project. You'll need to know when trying to get construction financing.

Keep in mind, all cities are different, just as all States are different. In most California Cities, you cannot get plans approved and a permit at the City Building Department without an architect stamp on the plans. They will also require a structural engineer stamp on the structural drawings. 

Hope this helps

Alway keep an updated spreadsheet for each job listing all expenses and subcontractor costs. The spreadsheet is shared between the partners and discussed regularly so there are no misunderstandings

Why pay an inspector when you're probably going to hire a contractor anyway. Your contractor will do inspections as part of his scope of work. If you want to offer a partnership position, do it with your contractor. Then he has a vested interest in getting the project done on time and on budget.

I'm looking into the Sonoma County market, specifically Rohnert Park / Petaluma. I lived there in the '80s and my son, who I would partner with is still living there working as a contractor. Any thoughts on this market currently?

Hi Tony, Yes I have considered private money. Let's talk about it, thanks