All Forum Posts by: Sam Yi
Sam Yi has started 1 posts and replied 3 times.
Post: Adding Square Footage
- Posts 3
- Votes 2
Quote from @Dave Skow:
@Sam Yi- adding sq footage will likely add value ..but 1) it can expensive 2) complicated 3) beuacratic if you have some ideas of what you would like to do - you might get a contractor to provide estimates and timelines
Yes! I'll be talking to a contractor here very soon. All the comps are multistory and bigger, I'm just wanting to to bring it up to par with that of the comps in the surrounding are, and since the other homes are bigger and have more floors I wouldn't think zoning would be an issue? I guess it would really come down to the price of rehab. Thanks again for the response!
Post: Adding Square Footage
- Posts 3
- Votes 2
Quote from @Sherief Elbassuoni:
@Sam Yi, you will need to do the analysis and see if it makes sense to add the sq ft or not.
For example, if adding the sq ft will cost you $80K, and comps only $50K more, it doesnot make sense to add the sq ft
Thanks so much for the reply, I'm talking to a contractor here very soon and seeing if it's going to even be a plausible idea. Thanks again for the advice!
Post: Adding Square Footage
- Posts 3
- Votes 2
Hey Guys, I'm a newbie investor in the Seattle Washington area! I found a property but it's pretty small compared to the other homes in the surrounding area including it's own comps (had to adjust pricing cause it was so small) I'm wondering if adding sq. footage would be cost effective and better to fit some of the comps in the surrounding area. I think it would be a great project that could have good return if I could bring this property up to some similar level to that of the comps, just wondering if adding sq. footage is the right move here?