All Forum Posts by: Alex Capozzolo

@Jason Hill There is always more room for Tech in the Real Estate Industry. There is potential for this as long as the plumbers, electricians, etc are receptive to using it! If they are good, they are usually working on the job, so if it is a single handyman without a team, it may be difficult for them to be at the ready for picking up their phone. I like the concept of streamlining it like this though !

@Shaunak Deo Welcome to the community! You'll find a plethora of valuable connections and information here. 

@Joe Xie No problem! I would assume that even if title transfers, that 12 month hold would still be valid. However, you should confirm this with either an attorney or someone who has done a good amount of investing in Oakland to find a definitive answer!

@Kyle Bentz The answer largely depends on your market, and the people who need housing there. In the Bay Area, corporate housing is a HUGE opportunity. So options like Airbnb, VRBO, and short-term rentals create cashflow opportunities that traditional long-term rentals wouldn't quite reach. I love the idea of a niche Airbnb. Creating a place to stay that has a funky, weird, quirky theme that people with pay a premium to stay at! For example, I've stayed a bungalow, tiki themed Airbnb before. A niche idea can add some extra $ in your pocket per month.

Public workspace is also becoming more common as more millennials are gaining the ability to work mobile. However, you would need to refer to your local regulations for using the property as commercial use. 

@Joe Xie Oakland definitely has some strict regulations to follow in regards to rent control and tenant/landlord relations. 

Rent Control for Oakland:

- Starting July 1st, 2017: You can raise your rent 2.3%. This has been increased 0.3% from the previous year. Great news for landlords. 

- Frequency: This can only be done ONCE every 12 months. Even if you don't use the entire 2.3% (i.e. you raise the rent 1.0% to start out) it still freezes your ability to raise the rent for the next 12 months after that. 

- Rent raises do rollover ! However, only up to 3x the current CPI amount. For example, if you haven't raised the rent in 37 years - like the real life example above (although that took place in SF, not Oakland) - you can only raise the rent a total of 6.9% if you do this after July 1st of 2017. 

- Important: Also, make sure to give your tenants at least a 30 day written notice of any rental increase!

You can read more up on the specifics of the regulations here!

Also, check out this link for some information on Fees!

@Luis Martino Murillo Welcome to BP ! It's no joke that many have been and are continuing to say 'it's a good time to sell'. The Bay is seeing record highs in home values in certain areas, so selling now would definitely not be considered a bad time. Whether there is a better time that will bare more fruit/equity, that's a much tougher question. If you're planning on investing that $100K directly into your next investment, and nothing more, you'll have some good options ! Cashflow is like chasing the magic dragon in the Bay sometimes, but it is STILL POSSIBLE to find with some persistence and wit. That $100K would take you much farther, but then a house hack would be out of the question if you didn't want to move. Have you ever considered East Bay as a market for multifamily investing? 

@Virgilio Mateo Welcome to BP ! Virtual wholesaling is becoming more and more popular nowadays because of technology and awesome networking sites like BiggerPockets. I'm originally from Philly (moved out here 2 years ago), but have some boots on the ground out there. We're in the process of starting an Investment LLC to start buying properties through out there. Philly is leagues different from the market here, and much more affordable to start as an investor. I'll shoot you a DM and let's chat :)

@Peter Oh Welcome to BP! 

I haven't read Brandon's book, but have listened to almost every Podcast of his. Investing in low income areas can be tricky when it comes to running a tight ship ! There are different pay structures that you can offer managers to keep them motivated and running your properties properly (i.e. they earn an additional compensation from a % of the rent roll based on vacancies). 

@Avi Garg Great idea, I'm looking forward to the rescheduled meetup. I'll bring a box of coffee to keep the creative juices fueled up for it !

@Christina Shackleton I don't have any personal experience with online auction sites. I have some limiting beliefs about them, since they are available to EVERYONE online, I assume they are more saturated than the in person auctions. What have you gathered so far from observing?