All Forum Posts by: Michael S.

 Ditto this. I myself am from Orange County, NY originally which is considered upstate if you're from NJ LOL. So where is the "rust belt"?

Hi Omid. Great post and good job!

You think you can break down for everyone here the itemized costs that totaled near $25,000? Purchase price was $200k, $80k for renovations and your all in cost was $305k leaving about $25k that went to closing costs, refinance fees, etc. Can you itemize those for us? 

 Also known as wholesaling

Wouldn't it make more sense to get the pre-approval first that way when he identifies the target property and puts an offer in he can tie it up, do 14 or 21 day loan contingency and use that time to secure the loan? Otherwise if he gets the HELOC he will be making payments when he hasn't even identified the property yet. Am I right or am I missing something?

 Hey no worries, it's Kuvella Modular Designs

I don't know too much about the Arizona real estate market to give sound advice on where the market overthere is headed but it sounds like you thought this through pretty thoroughly if you already know that you can get better cash flow in the midwest. A lot of investors that I work with here in Los Angeles would never want to invest outside the city so the fact that you have a higher tolerance to outside investing says to me that you should follow through with your plan. Like @Peter M. said, trying to time the market is a fools errand and there truly is no "best" time to sell. The best time to sell is when you don't have to and when you're ready to move on.

Depends on the square footage. R3 means each unit must be 800 sqft minimum. So if you have a 5,000 sqft lot you can put 6 units on that lot. Than no doubt it would make sense to redevelop. 

Talk to Los Angeles Building And Safety Department. Who says you need a driveway to have an ADU? Are you zoned for 2 units?

craigslist is another good one.