All Forum Posts by: Ariel Smith

@Scott Shatford How is it possible that you are able to gather real data? When I negotiate pricing with someone for the stay, how do you capture that? How do you capture whether I block my Airbnb calendar or whether it is an actual booking? Interested to know.

@Mary B. how quickly was your escrow going to be? Might have been a quicker close without contingencies or one of the two. Your agent should be able to check your MLS (assuming this was listed on the market) to see when the COE date is and can also see whether the property shows contingencies or not. For the one that sounds like it already closed, your agent should just be able to call the listing agent and ask what the terms were.

Essentially, your agent should be able to find out exactly why you lost.

@Lenny B. interesting article - thanks for posting. I know that the opposition to rent control is very powerful so I don't foresee this getting through.

@Sandra Holt the typical fees are the association of realtor fees (local, state, national) and MLS fees. The association will provide you with state and local contracts for you to use with your membership. Since you don't have experience as an agent in a transaction, I'd maybe consider hanging your license at a brokerage for the first couple of transactions to have them help you through them. You will have to give a cut of the commission, but it's a small price to pay to make sure you learn the basics. After that, you should be able to work on your own as a broker if you feel comfortable.

@Louis W. What neighborhood is your property located in? How about price point and size? Have you had any feedback from showings on the price or amenities?

@Michael Strachan if you're currently in property management, then I will definitely get licensed. It will allow you to do more within your current role and build up your experience along the way! If you're working in property management, then your brokerage may not require you to join the MLS and association of Realtors which will save you money up front.

@Ed Lee the majority of what I've seen is people using hard money or private money (family). I'm also seeing a good number of friends or colleagues buying property together to be able to afford a multi-unit. 

@Ed Lee welcome! 

- Getting a Real Estate License: For what you are looking to achieve, I don't think getting a license is necessary due to the time and cost to maintain your license. Also, the material you learn in the licensing courses don't really teach you how to buy or sell. It is more information on laws for land with a small amount of information on the process. You would learn much more through having a mentor who can give you real world experience.

- FHA Loans: Most people in the bay area aren't talking about them because as @Grant Rothenburger mentioned, they are owner occupant loans. Also, there are loan limits to FHA. This year for Alameda, San Mateo & San Francisco Counties they are as follows:

Single: $679,650

Duplex: $870,225

Tri-plex: $1,051,875

Four-plex: $1,307,175

Most properties at least here in SF don't fit into the loan limits. Also, it's hard to get your offer accepted in a seller's market with an FHA loan either because you seem less qualified or because the property condition is a part of the loan approval process, so "fixer" properties or ones that need significant repairs can cause issues with loan approval. Smart agents know not to accept an FHA loan if there is cash or a conventional loan on the table.

@Michael Strachan it depends on your goals and timeline I guess. I just made a move from a brokerage down in Burlingame up to the city and it feels like a whole new area. I had to join a new MLS, association of Realtors, etc. However, I learned so much about real estate in general working on the peninsula that the switch is easy. If you want to get started right away and are ok with the costs of joining an association/MLS knowing you will move at some point, then go for it!

Hi Lawrence - welcome! @Sean Walton and some others have a meet up in San Francisco that is at Hotel Zeppelin I believe monthly.