All Forum Posts by: Nick Hedberg

Sure, shoot me an email or a PM.

I would go to local REI meetups and network with other wholesalers in the area and see who they use. Also listening to the Michael Quarrles podcast can be a great resource. While you are figuring out your contracts and systems, start dialing and knocking. It’s pretty tough and certainly not for everyone. You can also try car.org and see if you can get or purchase the blank contracts. Start with the standard RPA and Assignment Contract. Good luck!

Hi Peter Tawfik , If you find any I have someone that can help. Nick

Hi Amaya Palmeri , I’m a local agent in the Marina and am very familiar with Playa. My big question is what would you do with the money if you sold it? If you can find a better investment then I would recommend selling. If the market stays strong then you could see significant appreciation. If the market turns then condos normally get hit pretty hard. Figure out what else you would do with the money and that should give you some guidance. Feel free to give me a call if you want a more accurate price appraisal.

I’m interested if you still have spots. Full time agent and I use to do systems analysis, QA and testing in the tech world. [email protected]

Everyone that has chimed in is correct. Get the permits while you are doing the work, it will pay off in the long run having extra square footage. Plus it’s cheaper to do it now while under construction.

Jose S. - if it’s under contract please send it to me. I have buyers actively looking in La Mirada.

@Seth Borman - I concur. If you are looking at adding an ADU as an independent real estate transaction then you can hit the 2% mark. If you look it as part of the strategy for the whole property, the numbers look different from a cash flow perspective. However if you can add 500 SF to a property that's $150,000 (at $300 per SF) for lower priced areas. In Venice where we see $1000 per SF that's HALF A MILLION DOLLARS. I'm currently helping clients purchase a property with an ADU. The home is a 2/2 and the ADU is a 1/1. The property is treated on the MLS as a 3/3 which is a huge benefit.

@Wadner Cortez - I completely understand. There are many variables. I appreciate the range, it helps me put a stake in the ground to at least get an idea. Can you PM me your info and your companies info? I want to add you to my database and vendors list.

@Shawn Ward - For your flips, do you guys ever factor in the potential option of adding an ADU? If you can turn a 2/1 one into a 3/2 far cheaper then adding square footage, I'm sure it opens up some new options. Think of all the cheap 2/1s out there with a garage. (Sssshhhhhhh, don't tell anyone I mentioned this).

@Wadner Cortez - Thanks for the info. What's the typical price range you see for bringing the utilities out to a garage? Also when do the @ symbol a little box should pop up with the person's picture. Click on the picture and they will get tagged and notified.

@Manolo D. - I agree 100%. If you are purchasing a property you definitely have to look at the entire picture for an accurate investment evaluation. Properties with an ADU getting 2% cashflow? I don't think so.... But if anyone finds one CALL ME. :-)

@Andy Brohard - Thanks and keep the great info coming! I've really enjoyed your comments..

Look to see what the FHA guidelines are for your area. In LA it’s up to $1.1M for a 4 unit. For $1.5M you might be able to find someone that can do 10% since it’s owner occupied. Call a bunch of lenders in your area. They will be able to give you an answer in minutes.