All Forum Posts by: Rick Trivedi

@Seth M. Whats the price range? 

@Raj Sidharthan as I had mentioned earlier, call City/county first to figure out the possible zoning change allowed. 

If you want to hold there property for longer term and being Landlord then you can either look into commercial or residential, build and hold. 

For short term, build and sell.
Construction cost in the area could be $175-$300 per foot Depending on how hands on you want to be.

Look at the avg sales price per foot in commercial and residential subtract the construction cost, combine that with long or short term hold preference and you have the net.

My guess is, Condos or townhomes would yield the most.

@Raj Sidharthan - First of all, congratulations on having a piece of land in San Jose - there arent many vacant lots anymore! There could be several options depending on permitted zoning. First thing I would suggest you do is call City to understand the zoning flexibility and what could be allowed. Based on your preference (long term buy and hold) vs short term (sell or build and sell). We are local and happy to help.

@Tracy Lau there are a few areas near I-5 south and further north east that you can consider for strong cashflow.

Reviving the thread, looking for handyman in Jacksonville and Orlando area

@Samuel H. without knowing the address and neighborhood, condition of the property, don’t think it’s wise to give an advise on the price and probably to even take one. Consult with someone whom you have shared this information, because that would be the most accurate advice.

@Jin Zhang - Your realtor in the transaction should be able to help you with these questions. They have access to the legal hotline for being part of CAR/NAR.

@Ryan Espinosa Most CPAs are going to be busy next month or two with the tax season - this being one of the most challenging seasons - which is probably why you are having a bit of hard time. Would recommend search for Real Estate CPA. Some of them do offer hourly consultation. If you search on BP, I believe, there are a couple that offer that. 

@Janki Shah - Personally I would base the cashflow based on the current numbers and price the property based on that. There are lots of deals which advertise "below market rents...opportunity to improve cashflow...", but they are below market for a reason. It will need some effort in terms of improvements or tenant recycling etc. which are additional costs (time and/or money). If you are successful in increasing rent etc. that is where the personal expertise comes in as an owners/operator, but that should be the cherry on top. 5-7-9% is all relative to location (which is everything in real estate) and hence the associated risk factor. Hope this helps.

@Adam Olguin Since you are a fellow agent in CA as well, have you tried calling CAR legal hotline? They are very helpful with legal questions. This is *not* a legal advise but AFAIK, if the lease is coming to an end (normally when seller list the property in the market, they do this) and if the tenants are not experiencing any Covid related distress (lost job) than it is okay to not sign a new lease i.e. to ask them to vacate. Of course you want to be considerate and give them as much time as you can potentially 30 days or more of due diligence and close period.