All Forum Posts by: Nicholas Coulter
Nicholas Coulter has started 12 posts and replied 664 times.
Post: Real Estate Investor in California
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
@Shammy Gallo Lets connect! I am in the area aswell and we host a monthly meet up!
Post: Where to begin search for the possibility of replacing an old home with a multi-unit?
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
Quote from @Chris Ghemm:
My mom have a property that's been paid for. Due to her health and age we are considering to let her move in with us and convert her property into a rental. The house will need a major renovation or maybe a teardown and rebuild for it to be considered safe for rental. It is a small house in a big lot. We are looking at the possibility of tearing down the house and building a multi-unit. I am not sure where to begin search on how many unit I can place in the lot.
Zoning Code is "M" and County Use Description is "1 Family Residence".
I am currently working on an ADU build for my unit that will be detached. If you are looking for an easy process to follow I would look into a company that can help you get permits and design done. Then you can take the partnership with contractors to have them build out the units
Post: Unpermitted Units but high cashflow
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
@Brian Cain might be worth making a call to the city to see if the units are old enough to be considered legal or non conforming from a grandfather timeline as Allan mentioned. If youre looking to flip it how do you plan on getting the value add for the increase in value?
Post: New to the game!
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
@Scott Garcia Depends on where you are at with self education. If you are feeling confident about the strategy you have laid out you can partner with an investor friendly agent. Preferably one that has done the same strategy you have! ID your buy box and when the right deal comes along dont hesitate and pull the trigger!
Post: Aspiring host. Looking to buy my first property to AirBnB in San Diego by year end!
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
Quote from @Bruce Woodruff:
Quote from @Nicholas Coulter:
@Bruce Woodruff I agree with you 100%. If the opportunity is there to HH in a place like this I consider it a win win. Likely with these prices and ROIs the HH is the best strategy to get a higher ROI. If not maybe out of state makes sense. I have looked into out of state outside of my HH plan in SD. If you ever come visit ill try and convince you to move back!
I come back all the time to visit my son (33) who still lives there. In order for me to move back, you would have to a) lower the COL so that I could really make money, and b) turn the state Red again.....both of which are unlikely, but I appreciate the offer!
As a Realtor you might want to consider an alternative game plan. I know dozens of people who are in the process of leaving, and they know dozens. I always thought if a Realtor could do a package deal - sell the SD house, work with an OOS Realtor to buy the house in the new state, incorporate the misc factors like moving and relocation data, you could make a killing.... Just my .02
My wife's family is down here so that wont be a reality for me!
Post: Aspiring host. Looking to buy my first property to AirBnB in San Diego by year end!
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
@Bruce Woodruff I agree with you 100%. If the opportunity is there to HH in a place like this I consider it a win win. Likely with these prices and ROIs the HH is the best strategy to get a higher ROI. If not maybe out of state makes sense. I have looked into out of state outside of my HH plan in SD. If you ever come visit ill try and convince you to move back!
Post: Aspiring host. Looking to buy my first property to AirBnB in San Diego by year end!
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
@Bruce Woodruff best city in the world ;)
Post: Aspiring host. Looking to buy my first property to AirBnB in San Diego by year end!
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
@Kevin G. I am currently house hacking a duplex with air bnb to cover our mortgage! Would be happy to share more with you about the process.
Post: Cash Aid - income?
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
@James Erikson I would think then it could qualify as income.
Post: Backyard renovation: Xeriscape
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
Quote from @Hunter Broschinsky:
Hey guys! First time home buyer attempting to do a live in BRRR (very slowly). I wanted to know how much money and time I should be focusing on yard renovations. Upon move in it was very rough. As of right now I'm planning on doing a xeriscape in the front keeping it very minimal with only a few plants and laying mulch instead of the dead grass and weeds. The backyard-
1. Covered Alumawood patio cover
2. Gas powered fire place
3. Privacy hedges or plants
Im curious if Im over doing this. Just not sure how my ROI will look as I am planning on renting not selling.
Also anyone know a good episode of the BP podcast that could help me with my landscaping questions?
I would add in pavers over the concreate. The look is so much better. If you are looking to add value to those living there after you take a look at sectional outdoor furniture to allow the outdoor space to feel inviting and warm.