All Forum Posts by: Tommy Ishida

Originally posted by @Jordan Berry:

@Tommy Ishida it’s not a great location for AirBnB. Plus, cap rates for a new building in this area are in the sub 4 neighborhood so I’m not too worried about the numbers. I don’t really think there’s a need to get too creative with this property. It’s fairly straightforward in terms of what to do with it to maximize the value. I’m more getting lost in the nuts and bolts of actually getting the thing built.

 Do you just need a developer to walk you thru it?

To piggy back what @Hai Loc was saying, another way to look at the deal is look at it as an Airbnb model if your location allows you. Your RevPar should be greater than your traditional leases. If your total cost is equals to around $2m to the current value based on market rate rent, meaning you are not gaining any equity value, then you should Airbnb it via the short term rental method, and crush cashflow. There are lenders out there now that will let you refinance your property based on Airbnb income. I have a consultant who can do a proforma for you if you are interested.

Originally posted by @Jordan Berry:

@Tommy Ishida

5,850 square ft. FAR 3:1

WIth that for 6 units, your max SF is 17,550, which means 2,925-SF/unit, which is HUGE per dwelling unit.

Does the zoning allow you to do retail on the bottom to maximize it?

@Colleen Prescott, lenders for single family (1-4 units) will be different than lenders for multi family (5+ units). You can go as little as 3.5% down on 1-4 units but most multifamily will require you to put 20-25% down as well as having 3-6 months of PITI reserves

Originally posted by @Shawn William:

@Tommy Ishida my main short goal would be to finance a deal and do a small flip just to break even, profiting would be great too. Just To get that experience, but I don't know the legal steps to take in that aspect as well as what is my next step from finding, a deal, calling the seller and then what? Go to a hard Money lender after and say I found a deal? I would like to rehab please give me money lol? Thank you

 where are you based out of? where do you want to do your first deal? in the city that you live in or remote?

@Jordan Berry, what’s the lot size and FAR with the zoning that you just mentioned? I’ve been in development for 12 years. Happy to guide you thru this.

@Daniel Zapata, congrats on taking the first step. Let me know how I can be a resource for you.

@Rashaniqua Cason, absolutely! Share some numbers with me and I’ll give you some options. Feel free to DM me.

@Shawn William, what’s your main short term goal?

@Rhyna Orillaneda, have you thought about using your house as Airbnb to get active cashflow? If you have that much equity, you should consider refinancing it, and purchase another property with it and have dual cashflow. Double the depreciation, and interest write off. Happy to walk you thru it if you like.