All Forum Posts by: Tim Holmes

@Lei Pan Back in 2005 I had a 2114 sf Elk Run built by Realty Homes in Federal Way. I liked their product, and it made a good personal residence, however I think the margins are to tight to be profitable for an investment. House 112k lot 45k sewer 21k permits 8k water 6k flat work 4k landscaping 4k miss.10k Total 210k. We lived in it for 8 years and sold for 290k in 2013.

@Orlando Roche Since I own the land I did look into JVing with a builder with my equity position being the land. With them it was going to take 36 months before I saw any ROI. Maybe I should reconsider short platting and selling.

@Ryland Taniguchi What is the differance between a long plat and a short plat? I have a 4 ac. parcel in Tacoma on Pierce co. sewer and Spanaway water that is zoned for six lots per acre. I was thinking of dividing but after looking at the costs for all the infrastructure, I am now thinking of just putting a SFR on it. Your thoughts?

@Adam Rees Guest houses, mother in law houses are also known as ADU'S accessory dwelling units. Check to see what your city or county requires and than run the numbers. Since you already own the land and many times you can get permits to tap into your main houses sewer and water lines this can be a big value add. Many cities will limit the square footage of the ADU, some will require stick built, some even allow mobiles. You can put family in them, ie. mother in law, or rent them long term or if you are in a good area you can use it for a vacation rental. I have a nice 2/2 which I get $1200 per month. The pros are you get to keep your eye on your renter. The cons are your tenant is your next door neighbor.

@AlexAnder Zeisburg the 6000 covers inspection fees and late comer fees.

I just had an ADU hooked up to Pierce co sewer. We were able to do this by a process called a side sewer. We were allowed to tap into the main home on the properties out going line. This only required us to go down 8 feet instead of going into the street and down 16 feet. Total cost $10,000. Six thousand to the county and 4000 to the contractor. This included 500 to pump and demo old tank. I wanted to use it for a in ground pool, butt county said no.

@Caroline Hedindrove by today and I can see your progress. Your paint job is looking good. It won't be long now.

@Curtis Bidwell @Kevin C. @Troy Fisher Thanks for the mentions. I'll be there, because of your persistence. Thanks. 

@Caroline Hedin This is a good chance to meetup with some very good R/E investors.

$35000 per unit in your area is a great buy. Hope it works out for you.

@Kelvin Schaeffer

Had the same surveyor survey a lot for me in Federal Way and it seemed like King County was easier to deal with than Pierce County.