REDDING, CA INVESTORS

Real Estate Agent · San DIego · Member since 2019 · 177 posts · 185 votes

5y

We pass through Redding on our way to our new Oregon investments (when driving). Keep me on your list, just in case we can time it with a meet up.

So Cal has very little inventory. Prices are up. Rentals are scarce.

Christopher D.

Rental Property Investor · Redding, CA · Member since 2018 · 22 posts · 12 votes

5y

Karen I was under contract last month for a house that had tenants on a month to month lease since their original 1 year lease had expired. The way it was explained to me was that I had to give them 60 days notice to leave the property. Ended up not buying it due to the house being built on wetlands though... You're completely right though, inventory is very low all over Shasta County. I'm looking forward to meeting back up a Woodys one of these days!

Bonnie LowPro Member

Lender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes

5y

@Karen Margrave I'd love to be on your list for your meetups. We're still investing in Shasta County, though inventory is very low as everyone else is saying. We're relying on wholesalers and off market deals - haven't found anything competitive on the MLS in about a year and we used to look at 5-10 properties/week.

[email protected]

Zane ZeleiPro Member

Member since 2020 · 2 posts · 1 vote

5y

I would also like to be put on your list for your meetup when we can actually see people in person. I have one rental in RB and a few in Memphis which i will probably be selling soon since I can't seem to find a property management company that I wouldn't mind working with. You can snoop around listings by clicking on my website. Get familiar with the area. Our market is extremely tight, but hopefully will be opening up soon.

Karen MargraveBusiness Member

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OP

Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes

5y

@Zane Zelei I'll be happy to put you on my list. Please set up your keyword alerts on bigger pockets for Redding Meetup, and also keywords for Redding, Red Bluff, Shasta County. I put on Events when I'm doing a meetup. I will probably do one starting again next month.

Karen MargraveBusiness Member

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Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes

5y

@JJ P. Where in Oregon are you investing? I understand about So Cal. We were down there for 12 years doing spec new construction in the coastal areas. I loved it. Then went to Sunriver, OR. Bend has huge demand and low inventory. Sometimes in the high demand areas, it just takes a little longer to find things that work.

Real Estate Agent · San DIego · Member since 2019 · 177 posts · 185 votes

5y

Originally posted by @Karen Margrave:

@JJ P. Where in Oregon are you investing? I understand about So Cal. We were down there for 12 years doing spec new construction in the coastal areas. I loved it. Then went to Sunriver, OR. Bend has huge demand and low inventory. Sometimes in the high demand areas, it just takes a little longer to find things that work.

We sold a 2 bedroom condo in San Diego that would rent for about $2K (my daughter lived in one room, exchange students paid $1K/mo) and were able to buy 3 homes in Coos County via 1031. The 3 of them will gross closer to 4K, net about 3K, per month. Obviously that was a stellar reallocation for us. Without boring you with all the little nuances, I can say that I think we bought older inventory, as the houses were all priced more like 2019.

Since we purchased, prices have creeped up, but, more significantly, inventory is very low. There is very little to buy, and much of it would be better for flippers looking for quick upside turns. We're looking at a couple more LTR investments along the Oregon Coast but they just don't have the numbers we'd like to hit, so we may sit tight for now until something whacks us in the face. The economics of that area aren't real great.. mostly older people and not a lot of opportunity for young people with ambition. There are jobs but not careers. Tourism (LTR transitioning to STR) and lack of housing make it a very strong market if you don't mind a niche. It doesn't dot the I's or cross the T's the way most investors would analyze the market. No Amazon Distribution Center will be moving in!

We only need a couple of units, and wanted to be in a very pretty/affordable coastal area, so it's working well for us. I would imagine that this economic profile is very similar to much of Northern California and many other rural areas. The high return investment option in Oregon seems to be coastal short term rentals, and we haven't gone that route yet. It's good to have a couple of exit strategies, though.

Real Estate Agent · San DIego · Member since 2019 · 177 posts · 185 votes

5y

Wow, Sunriver is very pretty! All of Bend seems to be booming. I just read an article in Bloomberg magazine that talked about the tech worker migration to Bend

Karen MargraveBusiness Member

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Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes

5y

@JJ P. Sunriver is GORGEOOUS! We had a house on the Deschutes River in the subdivision we were doing a spec new construction house in. It took a bit to wrap my head around there being luxury homes intermingled with 5th wheels next door, etc., but their lots were like parks. A lot of people find those lot to build on in their retirement, and in between use them as vacation spots in summer. I'd sit on my couch and watch the Elk coming down to the river, geese, deer. It was hard to get work done!

If you decide to buy in the area get in touch with me, and I may be able to give you some connections up there.

All the high tech stuff is happening north of Bend by Redmond and east. All beautiful areas.

Jennifer Senhaji

Rental Property Investor · Walnut Creek, CA · Member since 2020 · 2 posts · 0 votes

5y

@Karen Margrave Hey, Karen. I'm in Walnut Creek, Ca but actively looking to invest in Redding. Been studying your market for a while and hoping to Brrrr some properties in 2021. I'm a new investor but I've been an escrow officer for 18 years so not new to the industry. Been busy studying all I can the last 6-12 months and ready to jump in. Meeting with a realtor tomorrow in Redding who just happened to answer my email on a listing. He's nice but from my preliminary conversation it doesn't seem like he works with a lot of investors. I'll be meeting him tomorrow at noon to see a few properties I've been watching on the MLS but would love to connect with you. Happy New Year.

Karen MargraveBusiness Member

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Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes

5y

I don't want to step on any toes, but if you're not working with an agent, I'd be happy to help you, but even if you are, I'd be happy to talk with you about the Redding area and answer any questions you might have, etc. Our area is so unique and beautiful. We're hoping that there will be more listings coming online here in the next month or so. Fingers crossed!

Jennifer Senhaji

Rental Property Investor · Walnut Creek, CA · Member since 2020 · 2 posts · 0 votes

5y

Thanks so much for getting back to me, Karen. I saw some properties today, only one of which I thought had potential, but an offer would have to be pretty low to hit the 70% rule which is the goal. I totally understand about not stepping on toes. The agent I met with today for the first time was very nice. He is not familiar with Brrrr and works with mostly buyers looking for updated homes but he showed me 6 places today. So not sure how to proceed. I appreciate the value of his time, but also don’t want to shoot myself in the foot by not using an investor savvy agent. I’d love to join your meetup when that restarts as I’ll need contacts for bids and management, etc. Any resources for investors in Redding would be greatly appreciated. Doing lots of my own research, but brand new to investing and would love to network. Thanks again. If you have a list please add me.

Cara Murray

Investor · Redding CA · Member since 2019 · 55 posts · 24 votes

5y

Hi Guys/Gal- We purchased another house last month and like always needs a lot of work (found off market). We also refinanced 1 rental and went from a 5.75% to a 3% interest rate, changing my cash flow over $200 a month. It was a pain trying to refinance but totally worth it.

Anyone that remembers we bought the really ran down house in Anderson, we also finished the remodel and refinanced that one also. We were able to pull all the Rehab cost back out and some extra to roll into our next property.

Not only are property hard to find, trying to find contractors has been extra hard this go around. Called our normal granite installer and he can't come out to measure until April (I plan on having it rented/sold before then). And it seems this is how everyone is. Everyone is home and deciding to do those updates they have been putting off.

I can't wait to meet up again, love the conversation and hearing how everyone is doing. Hope to get to see you all soon.

Justin H.

Investor · Shasta County, CA · Member since 2020 · 28 posts · 12 votes

5y

Hi Karen and everyone! I am new to BiggerPockets and also new to Redding. I moved to Shasta County earlier this year. Just bought a house and now I am looking to start investing in the Redding area. Please add me to your list for the next meet up. Thanks!

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Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

5y

Originally posted by @Karen Margrave:

@JJ P. Sunriver is GORGEOOUS! We had a house on the Deschutes River in the subdivision we were doing a spec new construction house in. It took a bit to wrap my head around there being luxury homes intermingled with 5th wheels next door, etc., but their lots were like parks. A lot of people find those lot to build on in their retirement, and in between use them as vacation spots in summer. I'd sit on my couch and watch the Elk coming down to the river, geese, deer. It was hard to get work done!

If you decide to buy in the area get in touch with me, and I may be able to give you some connections up there.

All the high tech stuff is happening north of Bend by Redmond and east. All beautiful areas.

To ty Coos county and Bend together brought back memories of a trip I took in the late 90s when Bandon Dunes first opened.

Friend of mine in Santa Rosa has a home at Cross Water and a hanger there at the airport and of course a nice turbine twin to put in it.

We departed SR for Bandon played golf that day spent the night at Bandon dunes got up early played 18 holes at Bandon again jumped into his bird flew over to Sunriver got there by 12 teed off at cross water at about 1pm and played 18 holes there.. so may one of the few 4 somes to ever play Bandon and Cross water in Sunriver on the same day LOL.. Oregon coast crashed hard in the GFC the Covid has it coming back FINALLY but bottom line is very little industry and jobs.. since logging and fishing has curtailed .. so its retirement and tourism.

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Real Estate Agent · San DIego · Member since 2019 · 177 posts · 185 votes

5y

@Jay Hinrichs, if you're down in Bandon again I truly hope to meet you. You are the master of Oregon investments!

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Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

5y

Originally posted by @JJ P.:

@Jay Hinrichs, if you're down in Bandon again I truly hope to meet you. You are the master of Oregon investments!

Now that I dont fly anymore I dont think I will ever set foot in that area its just way to far to drive. and personally not a big fan of the Oregon coast unless its Tillamook bay to fish for Salmon and Steelhead in the rivers that feed the bay .. thats the only time we go to the coast.. my wife was born and raised on Puget Island in the Columbia river ( Cathlamet) so she wants a summer home there on the island you can get river frontage and nice sandy beach and watch the big ships roll by.. So looks like thats what we will do ... Enjoy your time there in Coos Bay.. I have flown into north bend many many times I would go on IFR training flights from Aurora and my go to was first to Newport then shoot the approach into North Bend which takes you about 5 miles out into the ocean for the procedure turn.. always could find some actual weather there.. Last time in my MFD ( multi Function Display) went off line and I had to break off and climb out of the clouds get on top and go back to home base.. that was a 15k box that broke :(

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Real Estate Agent · San DIego · Member since 2019 · 177 posts · 185 votes

5y

(sorry for the thread hijack)

We're restoring a Maule taildragger and probably bringing up there. OTH is fun to fly into even on United.

Josh Stevens

Real Estate Investor · Coos Bay, OR · Member since 2011 · 21 posts · 12 votes

5y

Originally posted by @JJ P.:

(sorry for the thread hijack)

We're restoring a Maule taildragger and probably bringing up there. OTH is fun to fly into even on United.

I'm in Coos Bay, if you bring the Maule up here let me know! I'll buy the fuel if you'll take me up!

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Trisha J Fagan

Member since 2020 · 3 posts · 4 votes

5y

Hi Karen,

So glad to see a Redding group on here. We just started investing and have 3 houses now, one LTR as of August last year, paying rent without a problem (so far, keeping fingers crossed), and the other two are Dunsmuir properties that are Airbnb's. We'd love to attend any meetings in the future, so please add me to your list!

Question for any and all.. we have had trouble finding a real estate investor friendly CPA, one that proactively wants to help us learn and obtain all the tax rewards with real estate. Does anyone have a recommendation?

Thanks so much,

Trisha

Isaias Velasquez

Investor · Chico, CA · Member since 2020 · 14 posts · 8 votes

4y

Haven't seen much activity on BP lately up here in the NorCal region, I'm sure everybody is busy out there taking on some great deals. How's everybody doing?

Rob Tierney

Member since 2022 · 1 post · 0 votes

4y

I'm new to this real estate game and would love to meet with some people in the area who have a grasp on how things really work. I'm a quick learner and a hard worker. If you have more meetups again I would love to come and meet people and see how I can fit into the local community. Please add me to the list.

Karen MargraveBusiness Member

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Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes

4y

Hi everyone, just checking in. The last meetup only had a few people, and we discussed opening it to investors at large, what are your thoughts? I know it's easy to miss posts on meetups, so if you'd rather I message or email you, please send me your contact info. The market is beginning to change, and we're seeing a little bit of movement on pricing, but not a lot. The inventory is still very tight, and expected to remain that way.

Being a Realtor and GC, having developed tens of millions of dollars worth of properties in Redding, I KNOW this market, the areas, etc. We have a very unique market. The major fires that burned hundreds of homes in Redding, and over a thousand in Paradise put a huge demand on housing. It's not as simple as homes that were burned being rebuilt and original owners returning to them. Many property owners rented, and decided not to rebuild, but to sell their homes and use the money to invest, travel, etc., staying in rentals. Others purchased smaller properties, and sold their lots to builders. Add to that we have Bethel School of Supernatural Ministry with students (ages vary from 18 to seniors) numbering a few thousand, with no dorm space, and investors have purchased homes and rent room space to them. We also have a big demand for traveling medical professionals, etc. Finally in the mix we had Covid, which pushed a lot of people out of big cities up to our beautiful area with lakes, rivers, mountains, etc. and housing inventory is crushed!

Personally I'm working on a very exciting niche, but will take some time to pull together; and I'll give you more details as it moves ahead.

QUESTION?? WHAT ARE YOUR THOUGHTS ON THE CURRENT CONDITIONS, AND WHAT SOLUTIONS DO YOU FORSEE FOR HOUSING?

Justin Kerstetter

Investor · Redding, CA · Member since 2019 · 48 posts · 14 votes

4y

@Karen Margrave I am definitely going to try to make it to the meetings more often. I don't think it would be a bad thing to open it up to any real estate investors and not only BiggerPocket Members.

I would definitely be interested in hearing about this niche that you are currently working on. For me and my wife we are focusing on building out an ADU in our backyard as we are within a couple minute walk of the new Bethel Campus location. We are wanting to have that completed prior to the new location opening. After that we are somewhat in a holding pattern just seeing which direction the market heads.