All Forum Posts by: Baird King

@Allen Maris - just seeing this after coming in here to post the SB event we have been discussing.  I am definitely interested in coming over the hill to SY in the future if you get an event together there!

Absolutely @Ethan Shultz and @Jason Underwood; would be great to have you.  BP has requested we move the details of the event to the events area. I will set that up this evening or tomorrow and confirm here once ready.

Sorry to hear @Allen Maris.  We'll get you next time.

@Spencer Cole @Zachary Moore @Allen Maris - how about getting something going? What is the evening of Thursday, June 17th like for you guys? 6pm? If we can lock in a time for the four of us, I’ll reach out to some others and lock in a spot. Allen - looks like your over the hills; are you open to heading our way? 

@Jennifer Gardner - don't mean to disclose you. If we get a regular thing going, I'm sure we can start patching you in. In the meantime, if you want to chat SB real estate, I am always on board. Wrapping up a SFR w ADU in SB right now.

Looking forward to connecting!

@Scott M. - thank you! I thought about the privacy component.  Figured as long as it was agreed upon in a contract, it should be ok; but definitely worth confirming.  

BPers - curious if anyone has experience (positive or negative) including mandatory cleaning services in the rent for single family homes?  Seems like this is not a common practice, but I am not sure why.  We are finishing renovation on our first rental property and want to do what we can to keep it clean.  We are in an expensive area (Santa Barbara, CA) where the cost for cleaning services is minimal relative to the rent prices, so I can't imagine many tenants would quarrel over this, especially if it is included in the rent. My feeling is this would be nice peace of mind when handing off the keys.  On the other hand, I can also see the argument that a one-time hit for a serious deep clean at turnover saves more in the long run.  Thanks for any advice.

@Cornelius Charles - great advise, thank you. It is a tough market all around.  I am sure most folks are aware how hot the market is, but figure its still worth pursuing. It's certainly not any easier to land an on-market house at the moment :-).  Regarding your comment about using an agent - our plan was to use an agent as a safeguard against potential mistakes.  This will only be our second house purchase so I want to make sure everything is done correctly.  That said, do you have recommendations about carrying out the purchase process ourselves?  For instance, where to get appropriate paperwork?  Is that something a transaction broker would help with (as referenced by @Caleb Brown)? Or would an escrow company be helpful in this regard?

@Caleb Brown - thank you also.  Curious what it would look like to use a "transaction broker".  Do they typically take a lower commission?  I assume transaction broker is an standard role for agents/brokers?   

Really appreciate the info, guys!

Hey BPers. I purchased my first investment as a house hack last year with a business partner. We are considering opening a HELOC. Curious if anyone has any experiencing managing a HELOC with a business partner, and if you have any advise, warnings, etc? We will be moving out at some point and renting the entire property; each likely moving in our own directions with future investments, but both wanting to utilize the HELOC for these investments (e.g. down payment, renovation, etc). It's easy enough to split the credit line by ownership percentage, but if one party uses more, and/or doesn't make their payments, the other party's credit gets hit and ownership gets put in jeopardy. From what I have been told by lenders, it is not possible to set up separate LOCs since they are tied to the property. Has anyone experienced otherwise? Thanks for any advise!

Hey BP team. My fiance and I are starting our first direct mail campaign in Santa Barbara, CA to hopefully land our first off-market live-in rental. In this market we would be putting between 5%-20% down. Wondering what you folks think are key things we should know when someone calls us up and says, "tell me more"? Specifically:

1. In what unique ways can we bring them value? The obvious ones are saving them the hassle of listing, and saving them money on agent commission if they choose not to get an agent; but I am sure there are other creative suggestions out there.
2. Is it pretty common for the buyers agent to act as a dual agent in situations like this? I could imagine the seller might be weary of the buyer suggesting, "hey, you should use my agent".
3. What, if any, differences are worth highlighting between the MLS and off-market ownership transfer process?
4. Is there anything related to financing that changes for off-market deals? Is it harder to get financing for any reason?
5. I don't have any more questions but can't get rid of the numbered list. Anyways, thanks for any tips!

You're a big fry compared to me, James.  Congratulations!  I am three years and (hopefully three deals) behind you ;-).