Does anyone have real estate experience in Piedmont, California?

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Does anyone have real estate experience in Piedmont, California?

Nathanael Troupe
Oakland, CA · Member since 2017 · 14 posts · 6 votes

I'm looking to house hack in Piedmont and I'd like to learn more about the Piedmont market. I'd like to chat with anyone who has experience in Piedmont. Thanks.

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
7y

very expensive area for house hacking .. but good way to offset some of your mortgage payments

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  • Brad Polvorosa
    Developer · Oakland, CA · Member since 2011 · 13 posts · 2 votes
    7y

    What form of "hack" are you looking to do?

    I lived used to live in Piedmont, now Oakland.

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y

    very expensive area for house hacking .. but good way to offset some of your mortgage payments

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    1Reply
  • Nathanael Troupe
    OP
    Oakland, CA · Member since 2017 · 14 posts · 6 votes
    7y

    @Brad Polvorosa It's my understanding there is a strong incentive for families to live in Piedmont because of the great school system. I'v been told families will even rent in Piedmont for the schools. I've been looking at all the homes that go up for sale in Piedmont and many of them are very large with multiple floors. In many cases, the floors have multiple bedrooms, bathrooms, living spaces, and areas that could be converted into small kitchens. I'm single, so I'm looking to take a floor for myself, maybe rent out a room on that floor to another professional, and rent out the main floor of the house to a family. These homes always appreciate and always sell. What's your thoughts? I'm looking for more insight on Piedmont. 

    1Reply
  • Matt K.
    Walnut Creek, CA · Member since 2015 · 3k+ posts · 2k+ votes
    7y

    I'd imagine there's zoning that won't work with your idea...and out of all places to be enforced it'd definitely be there.

    0Reply
  • Matthew Barba
    Lender · San Ramon, CA · Member since 2016 · 6 posts · 4 votes
    7y

    @Nathanael Troupe you will want to speak with Dan Silvert with Climb RE, he grew up in the area and has been helping homebuyers find the right opportunities. 

    0Reply
  • Nathanael Troupe
    OP
    Oakland, CA · Member since 2017 · 14 posts · 6 votes
    7y

    @Matthew Barba Thank you!

    0Reply
  • Frank Wong
    Real Estate Broker · Bay Area · Member since 2018 · 1k+ posts · 3k+ votes
    7y

    Piedmont has the best public schools in the area. Very desirable city but also very expensive. Not many homes come on the market and people just don't sell. I think if you are trying to do a high-end flip it is the perfect city for it. If you are trying to house hack and rent it out. It is the worst city for that. It makes no sense from an ROI standpoint to rent it out.

    1Reply
  • Frank Wong
    Real Estate Broker · Bay Area · Member since 2018 · 1k+ posts · 3k+ votes
    7y
    Originally posted by @Nathanael Troupe:

    @Brad Polvorosa It's my understanding there is a strong incentive for families to live in Piedmont because of the great school system. I'v been told families will even rent in Piedmont for the schools. I've been looking at all the homes that go up for sale in Piedmont and many of them are very large with multiple floors. In many cases, the floors have multiple bedrooms, bathrooms, living spaces, and areas that could be converted into small kitchens. I'm single, so I'm looking to take a floor for myself, maybe rent out a room on that floor to another professional, and rent out the main floor of the house to a family. These homes always appreciate and always sell. What's your thoughts? I'm looking for more insight on Piedmont. 

    A family looking to rent in Piedmont does not want to live on a floor and share a house. They want their own detached house without anyone living in the property.  They are paying a high rental amount already and that is what they are expecting. A professional probably would not want to live in Piedmont. They don't have kids so they don't need the schools and pay the premium.  Piedmont is also not near Bart so if they work in SF that can be an issue. 

    I think if you are trying to do what you're saying above. I think the area of Rockridge in Oakland would be best. Rockridge is a great neighborhood probably the best in my opinion for Oakland. Instead of renting out to a family rent out the rooms to professionals and you live in the house. The cost base for a Rockridge home will also be less. You will find a higher ROI.

    1Reply
  • Aamir V.
    Investor · Houston, TX · Member since 2018 · 25 posts · 5 votes
    7y

    Piedmont is not near BART but there are two rush-hour bus lines (the C and the P) that go into the city <40 minutes.

    Rockridge is awesome.

    Temescal is gentrifying fast.

    0Reply
  • Chris MasonPro Member
    Moderator
    Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes
    7y
    Originally posted by @Nathanael Troupe:

    @Brad Polvorosa It's my understanding there is a strong incentive for families to live in Piedmont because of the great school system. I'v been told families will even rent in Piedmont for the schools. I've been looking at all the homes that go up for sale in Piedmont and many of them are very large with multiple floors. In many cases, the floors have multiple bedrooms, bathrooms, living spaces, and areas that could be converted into small kitchens. I'm single, so I'm looking to take a floor for myself, maybe rent out a room on that floor to another professional, and rent out the main floor of the house to a family. These homes always appreciate and always sell. What's your thoughts? I'm looking for more insight on Piedmont. 

     FWIW if there is any area in the East Bay Area where annoying nosy neighbors are MOST likely to report any actual or perceived zoning violations and throw your plans awry, it is without a doubt Piedmont. 

    0Reply
  • Amit M.
    Rental Property Investor · San Francisco, CA · Member since 2013 · 1k+ posts · 1k+ votes
    7y

    Frank and Chris nailed it. Piedmont is probably too precious for what you want to do. Plus your ROI will blow with a high end home. You'll get equal or better appreciation in the other good Oakland neighborhoods suggested.

    0Reply
  • Nathanael Troupe
    OP
    Oakland, CA · Member since 2017 · 14 posts · 6 votes
    7y

    Thanks all for the great feedback. I'm adjusting my plan. Thanks!

    0Reply
  • David Hooper
    Rental Property Investor · Berkeley, CA · Member since 2018 · 2 posts · 0 votes
    7y
    Originally posted by @Frank Wong:
    Originally posted by @Nathanael Troupe:

    @Brad Polvorosa It's my understanding there is a strong incentive for families to live in Piedmont because of the great school system. I'v been told families will even rent in Piedmont for the schools. I've been looking at all the homes that go up for sale in Piedmont and many of them are very large with multiple floors. In many cases, the floors have multiple bedrooms, bathrooms, living spaces, and areas that could be converted into small kitchens. I'm single, so I'm looking to take a floor for myself, maybe rent out a room on that floor to another professional, and rent out the main floor of the house to a family. These homes always appreciate and always sell. What's your thoughts? I'm looking for more insight on Piedmont. 

    A family looking to rent in Piedmont does not want to live on a floor and share a house. They want their own detached house without anyone living in the property.  They are paying a high rental amount already and that is what they are expecting. A professional probably would not want to live in Piedmont. They don't have kids so they don't need the schools and pay the premium.  Piedmont is also not near Bart so if they work in SF that can be an issue. 

    I think if you are trying to do what you're saying above. I think the area of Rockridge in Oakland would be best. Rockridge is a great neighborhood probably the best in my opinion for Oakland. Instead of renting out to a family rent out the rooms to professionals and you live in the house. The cost base for a Rockridge home will also be less. You will find a higher ROI.

    Great recommendation on the area of Rockridge in Oakland for a house hack to rent out. I've been looking around in Oakland and I haven't thought of Rockridge! 

    0Reply
  • Brad Polvorosa
    Developer · Oakland, CA · Member since 2011 · 13 posts · 2 votes
    7y

    I agree with most of the info being posted... Piedmont not ideal for house hacks. Good luck with your search.

    0Reply
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