All Forum Posts by: Mike Yee
Mike Yee has started 1 posts and replied 7 times.
Post: San Jose ADUs. Experiences to share?
- Posts 7
- Votes 2
AS OF 6/28/18, SAN JOSE EASED RULE NOT REQUIRING OWNER OCCUPIED, SUBJECT TO CHANGE.
great job!!
Post: Dealing with Code Enforecement Inspector in San Jose
- Posts 7
- Votes 2
new ADU ordinance says minimum lot 3000 sq ft for ADU. any updates on this?
Post: ADU options in SF East Bay
- Posts 7
- Votes 2
Just following up on what you decided
Post: 27 y/o Female – 50k debt to $1M+ net worth (24 units,50 deals/yr)
- Posts 7
- Votes 2
seems like a lot of work and efforts but congratulations of being self made millionaire. keep up good work.
Post: [Silicon Valley]: House hack 2 bedroom condo or continue renting?
- Posts 7
- Votes 2
Patrick,
When we can afford to buy a house regardless of types (condo, townhouse, etc), try to buy one in a good location any time because we need a place to call home. If you plan to relocate to other areas of the country in short term, it may be better idea to rent and downsize to save money.
Also, diversify investment portfolio.
Post: Basement vs ADU Value-Add in South Bay Area
- Posts 7
- Votes 2
Hi all,
I've been thinking about how to improve my house values while generate rental income in SF Bay Area. Assume lot size 8400 sq ft on corner. I've been thinking of two residential additional projects for long time: Basement Vs ADU. Local famous architects prefer to do basement and replace house good brick foundation as first project and then ADU. Here is a few questions I have.
1. Living square footage
Assume equal square footage and finishes and rental income, which would you prefer habitable walk-out basement (without kitchen) over detached ADU on top of detached garage or attached ADU?
2. Cost variance
It appears cost to construct habitable finished basement for house with existing 6 feet crawl space is higher than building ADU equal square footage and finishes and rental income
3. Home resell values
Which gives more home values, habitable walk-out basement, detached ADU or attached ADU?
Other questions I like to ask:
4. Would you prefer one story detached ADU 1200 sq ft or two story detached ADU 1200 sq ft? Assume one story costs 50% more than two story ADU.
5. For house with ADU, would you prefer to convert 2 car garage (440 sq ft) into 1 car garage (200 sq ft) and covert the other half garage as ADU partial living space (240), convert 2 car garage to ADU (440 sq ft) to save building cost, or keep 2 car garage and build ADU on top of car garage?
Construction cost a fortune in the Bay Area, not to mention design/engineering fee and permit process. Or should I consider invest money somewhere else like buy a house in more affordable area?
Thank you very much!