Oliver Davis

Multifamily Investments and Development.
Newsletter:

[Oliver Davis @OliverJeanDavis]

RSVP here: https://t.co/4SfR9IYX3p

[Oliver Davis @OliverJeanDavis]

Join us tomorrow at our Meetup dinner in San Francisco. I will share everything I learned about ADUs and answer all your questions!

[Oliver Davis @OliverJeanDavis]

Hello Bay Area Friends!

Want to learn more about ADUs (Accessory Dwelling Units)?

Come join Brenda Chen and me for a great networking dinner where we will dive into the ins and outs of building ADUs!

I will be an open book and share everything I learned on my projects.

[Oliver Davis @OliverJeanDavis]

Hello Bay Area Friends!

Want to learn more about ADUs (Accessory Dwelling Units)?

Come join Brenda Chen and me for a great networking dinner where we will dive into the ins and outs of building ADUs!

I will be an open book and share everything I learned on my projects.

[Oliver Davis @OliverJeanDavis]

Please be sure to RSVP here: https://t.co/4SfR9IYX3p
Looking forward to seeing you there! #ADU #Realestateinvestments #retwit

[Oliver Davis @OliverJeanDavis]

Hello Bay Area Friends!

Want to learn more about ADUs (Accessory Dwelling Units)?

Come join Brenda Chen and me for a great networking dinner where we will dive into the ins and outs of building ADUs!

I will be an open book and share everything I learned on my projects.

[Oliver Davis @OliverJeanDavis]

@TheJubrick 460k hard cost and about 60k soft cost
Signed lease for 2,500 for 1 unit and hoping same for other

[Oliver Davis @OliverJeanDavis]

I am proud to reveal our latest project finally completed!
2 new detached ADU's on the side of a 4-plex in north Oakland.
The project as a whole consisted of the full renovation (inside and out) of the 4-plex and the construction of 2 detached ADUs in lieu of an old garage.

[Oliver Davis @OliverJeanDavis]

Are you interested in getting involved and learning more about real estate entrepreneurship? Joint our Newsletter, link in below 📷
https://t.co/PMIRdeDfYr

[Oliver Davis @OliverJeanDavis]

What a great turnout at our on site Meetup yesterday with @KenjiCapital !

Making new friends while sharing what I have learned with my projects is very rewarding and a lot of fun.

#retwit #realestateinvesting #Entrepreneurship

[Oliver Davis @OliverJeanDavis]

Can't wait to do many more projects so I can transparently share what I am learning along the way with others and grow this meetup community!

[Oliver Davis @OliverJeanDavis]

@DomastroGP @KenjiCapital Thank you!!

[Oliver Davis @OliverJeanDavis]

@KenjiCapital Looking forward to it @KenjiCapital !!

[Oliver Davis @OliverJeanDavis]

2 ADUs on 4-plex on site Tour! https://t.co/Os2eCYiWGE #Meetup via @Meetup

[Oliver Davis @OliverJeanDavis]

There have been many lessons learned and I will share those in other posts in the coming weeks.
#ADU #realestatedevelopment #retwit

[Oliver Davis @OliverJeanDavis]

I want to thank our Investor, our Partners Cottage who designed the ADUs as well as GreyHawk Construction (Akshat Jain) for their great work and professionalism.

[Oliver Davis @OliverJeanDavis]

Construction update! 2ADUs on the side of a 4-plex:

- LVP flooring Installed
- Cabinets installed
- Countertop installed
- Stairs and deck (structural) to second floor installed
- Tile is going in today
- 6 electrical meters installed. Work on elec panels will start soon

Question for you:

The ADUs will have on-site parking. However, there currently is no parking for the 4-plex.
It seems more and more tenants want on-site parking due to security issues.
Should I replace the 4-plex shared garden with parking spaces?

I would really prefer having a garden but I wonder if tenants would actually prefer having on-site parking than a shared garden (I understand a shared garden is much less valuable than a private open space). Let me know in the comments below ⬇️

#ADU #realestatedevelopment #retwit

[Oliver Davis @OliverJeanDavis]

Networking and building Partnerships is probably one of the most important aspects of being a Real Estate Investor.

I spent the weekend in Biloxi, MS with the 3 Beach Capital Mastermind group.
It was great to finally meet everyone in-person after a year on Zoom!

We discussed many aspects of Multifamily Syndications and Entrepreneurship.

Here are my main takeaways:

- as an entrepreneur, it is extremely important to surround yourself with people who are more advanced than you to be inspired and see how they think and operate. Never be the smartest one or most advanced in a room.
At the same those people need to be relatable and approachable otherwise the gap will be too big and you will be discouraged. In that regard, small groups are probably better than very large ones.

- investing in multifamily mostly brings mid to long-term results (cash flow, equity creation, depreciation). Therefore as an entrepreneur, you need another source of income in the meantime to pay the bills. Several people in the group still had their W2 jobs, several were business owners (whether in the Real Estate space or not) and several were just full-time multifamily investors with the means to do so.
For me personally, I see the need for my business of having 2 sides:
1) one that generates quick cash (like fix and flips, wholesaling and short-term projects)
2) and another one that slowly builds cash flow and equity (like the larger multifamily syndication investments).

- having rental properties in California can be very challenging. Many investors in the group (and elsewhere) don't understand why anyone would be a Landlord in California. This definitely made me reflect.
This being said, I believe those who learn how to navigate the complexities of doing multifamily value-add projects in California can set themselves apart. More barriers to entry also means less competition.

What are your thoughts on this? Let me know in the comments below! ⬇

#realestateinvesting #multifamily #retwit

[Oliver Davis @OliverJeanDavis]

I had the pleasure to be invited as a speaker at the VIG meetup in San Francisco.
I spoke about my experience adding ADUs on Multifamily properties.

Here is a summary of my main lessons learned:

- Target properties that are already 5+ units and add several ADUs. Converting a 1-4 units property (resi financing) to 5+ (commercial financing) is a bad idea in my opinion. Ask me why in the comments!

- ADUs should not be the main value-add play and need to be the cherry on the cake. You need to be able to make your numbers work with the main building first.

- ADU timeline is tough from an investment standpoint because it will take a minimum of 12 months to complete them (from start to finish) and probably longer. So it will take you 12 months + to get income from them.

- ADUs are a great way for owners who already own a property to add value. However, unless you can build many (4+) they are not a "silver bullet" to make a new deal pencil.

- You make money on the purchase and by controlling construction cost.

- Zoning codes and building regulations change often. You need to be aware of this and embrace it.
- The rental market can get softer and vacancies harder to fill than anticipated. Plan this in your underwriting.

- Remember that getting utilities to the ADUs is a long process and you need to be very proactive.

- Building ADUs is more expensive than you think. Especially with all the soft costs (A&E, permit fees, utility fees).

Do you have any questions? Let me know in the comments below. ⬇

Thank you Chris Vandervaart and Daniel Linh Nguyen for the invitation!

#realestatedevelopment #ADU #RETWIT