Investor · Chico, CA · Member since 2015 · 40 posts · 6 votes
Hello Everyone,
Noob here from NorCal. If you live in or near Chico, California, I'd love to visit with you for lunch. I'll buy. I'm looking to build a network of friends both online and locally so we can share and grow our businesses.
I'm 46, married with 3 young-ish children and work as a teacher. Real estate investing is my next adventure and I'm working to build a retirement for me and my wife.
My game plan is to wholesale SFHs and Apartments to build cash and then invest in apartments in emerging markets wherever it makes sense in the US. If you have insight into these areas, especially successfully working deals in Norther California, I'm all ears.
Real Estate Agent · Lincoln, CA · Member since 2014 · 225 posts · 43 votes
11y
Jessica, you went there too? Geez. Maybe the next meetup should be a chico alum one! there can be consistent 1yr turnover and only few 2yr leases if your renting to kids. The benefit is that you require the parents to cosign. You also have to look at rentals as price per bedroom whereas outside college towns its more per sqft. Closer to college the better for students. I always liked the streets but not the avenues. My moms places are spread out & shes had next to 0 problems in 6 yrs, but she swears by her pm. Outside the summer months id bet there isnt nearly as much demand for rentals, but that can work in your favor if you find a seller in december & do a 6 mon or 18mon lease to line back up with school. Just my $.02. Oh my old fraternity started back up again, so if you need access to strong young labor (starving college kids) i may be able to send them your way i think a number of them are construction majors
I live in Redding and I'm experiencing the same thing you are. Everything on the MLS seems high right now. Hopefully we'll see some release soon.
Holy crap !! I bet we have crossed paths before haha . I worked at Winco from 11-12 and then joined the Air Force . Miss that town , and especially miss the lake!! Looking to join the Redding Police Department as a backup if my real-estate plans don't work out .
Investor · Warrensburg, MO · Member since 2015 · 21 posts · 4 votes
11y
@Chad Anderson I would love to purchase a nice apartment or couple SFH to rent out to bethel students , those people come from all over the world and a lot of them have a good amount of money somehow . I had a couple roommates that were students , odd bunch but from a landlord perspective they have potential to be good tenants.
I have been progressing but not in Chico. I'm working on wholesaling apartments out of state. It's hard, but I have some experience with apartments. I sold 2 properties as a broker in Texas over 15 years ago. So I have a small head start there.
My local market is very hot right now for sfh investment. I will probably return to it at some point, but I'd rather pursue better markets first.
El Cerrito, CA · Member since 2015 · 257 posts · 129 votes
10y
Dave Hall Hi Dave, just curious if there has been any progress on a club meet up of sorts in the Chico area. I grew up in Chico and attended Chico State but have since re-located to the Bay Area. My parents still live up there and we discuss investing in SFH's frequently (they seller financed a commercial property and still own a SFH as a rental).
Also, how has your progress on the real estate license gone? Any deals you've done since this thread started 5 months ago?
Happy new year
Doug
Contractor · Paradise, CA · Member since 2015 · 13 posts · 0 votes
10y
Hey Dave I'm located just up the hill from you in paradise. I work in chico for a local plumbing company Earl's plumbing might have seen our big red vans? I'm looking for property's in paradise. Had any luck in this area?
Flipper/Rehabber · Chico, CA · Member since 2015 · 26 posts · 11 votes
10y
Dave, I'm in Chico also and would love to know if you've made some headway on setting up a local REIA. I went and liked the Facebook page you set up (thanks for doing that!). I'll send you a colleague request also. I used to go to a REIA in Chico that was very small (about 6-7 people consistently showed up), but that folded about 2 years ago.
Chico, CA · Member since 2016 · 60 posts · 16 votes
10y
I live in Chico and am new to REI (I've read a couple books). I am interested SFHs, or might need to start in condos due to current available funds. I am also interested in participating in a local group.
Investor · Pleasanton, CA · Member since 2016 · 11 posts · 5 votes
10y
Pat McGrath who is your moms property manager? I own/rent in Chico and am looking for a good one.
North valley property management used to be really great... But in 2014 they changed leadership and I've yet to have a good experience with them since.
I used Sheraton in a pinch last time.
Curious to learn of other options!
Flipper/Rehabber · Chico, CA · Member since 2015 · 26 posts · 11 votes
10y
I think Paul has been the owner of NVPM for some years now...I was not aware there had been an ownership change. I manage my own, so I can't speak to this directly, but I'm pretty sure Paul presented at NVPOA Expo in 2011 or 2012 and he was already at NVPM.
Pat McGrath who is your moms property manager? I own/rent in Chico and am looking for a good one.
North valley property management used to be really great... But in 2014 they changed leadership and I've yet to have a good experience with them since.
I used Sheraton in a pinch last time.
Curious to learn of other options!
Hi Jonathan, check out Blue Oak Property Management, we started Blue Oak 6 years ago and have worked hard to become one of the top companies in the area. We have a track record of increasing profits for owners while being fair and honest with tenants. Check us out online (our website, Yelp, Google etc). Feel free to reach out to discuss management or investment properties.
Specialist · Northern CA · Member since 2014 · 154 posts · 57 votes
10y
Also a local CA investor/general contractor currently investing in Northern CA. Sonoma, Mendocino, Sonoma, Butte, Sacramento Counties. I would be interested in anything 3/2 SFR or duplex 2/1 or greater. It would need to at least meet the 1% rule ( 1% monthly rent to purchase price )