All Forum Posts by: Account Closed

If anyone's interested I just completed a modular project this year. I posted a write-up of it here.

I think I have the coolest, lengthiest-worded degree in the world. It reads: Master of Real Estate Development for Architects from Woodbury University in San Diego. 

They changed the name since I graduated to add more words: Master of Science in Architecture in Real Estate Development 

@Jake Thompson yeah it's this program

I did a masters degree in it. Would highly recommend it. It was a professional program designed with working professionals in mind. Met twice a week for a year. Made offers during my last semester, was in escrow two weeks after graduating. I started an alumni association specific to our degree program, have an amazing network of former students and teachers. We're changing the landscape of San Diego for the better. It's very much a pay to play way of doing it but for me it was well worth it. I will say that not everyone who graduated with me has been as successful but the body of work the 100 or so alumni have put out over the last ten years is beyond impressive. As with anything you'll get out of it what you put into it

@David Morrison is this county of San Diego? R7 isn't a zoning in the City of San Diego. Maybe you mean RS-1-7 in which case you can't build the density you're talking about as that zoning is 1 dwelling unit per lot. Check the zoning here:

http://apps3.sandiego.gov/siteinfoweb/begin.do

Do you have entitlements? I wouldn't count on getting a lender on board without some very specific assurances that you can do what you're intending. I've worked on several container projects at this point but I've yet to see a construction lender lend on one.

AirBnB has now added the ability to "Link" calendars. This is different than Syncing or Synchronizing them. It allows you to add subordinate listings under a main listing and is really easy to use. In my case I used it to link the upstairs and downstairs portions of my listings to the main house. When either subordinate listing gets booked it blocks the main listing but not the other subordinate listing. This is a great addition.

https://www.airbnb.com/help/article/1864/how-do-i-link-airbnb-calendars-for-multiple-listings

@Phil D.

1. FOB cost if they were built as originally planned should be $150/sf. I'm charging the factory for its faults. 

2. Foundation, utilities, landscaping, hardscaping, ROW improvements, etc. This cost did not include appliances, those were part of the manufacturer cost. 

3. Send me a PM. 

@Rich Ferradino good question. We opted for a minimum loan and left the money in. In truth we didn't have much choice because of the product type and not doing a subdivision or condo map it was tough to find financing for three units that didn't run up against lending limits. We got a commercial 10-year, 5 fixed and may look into the lot split within the next 5 years to be able to refi into three single-family loans. The commercial side was also difficult to pull value out of because of the perceived volatility of AirBnB and San Diego's current political climate vs. AirBnB that most lenders wanted to qualify the loan on a DCR vs. long-term rents. We found one institutional lender that was willing to appraise the project as its highest and best use of short-term rentals and were able to get the value we wanted only from them due to the DCR on the short term side being quite low. The payback period looks pretty good for getting our cash out so we're alright.

@Robin Boyer not sure I can make it this week but let me know if you get something organized in the future