All Forum Posts by: Baird King

EVENT CANCELLED!  I hate to have to do this but, for the first time ever, we need to cancel the event due to weather. Third Window is also closed. Stay safe out there and see you in the new year. Happy holidays!

The 30th Santa Barbara Real Estate Investor Meetup will take place at Third Window Brewing Co. on Thursday, December 21st from 6-8pm. We will be in the front patio area by the bar and old kitchen. Look for the sign similar to the above banner and call/text me (Baird) at 805-705-5667 or Val at 805-215-6733 if you are having trouble finding the group.

We are a group of real estate investors of all experience levels who get together each month to share stories, experiences, leads, etc. Whether you have only started dreaming of your first property, or just closed on your 100th; whether you invest out of state, or keep it local, we look forward to having you join.

We kick the evening off with quick group introductions so be ready to tell the group one thing you are seeking, and one area where you can provide value (everyone has something to give).

RSVP here AND post a response if you plan on joining so we know who to look out for and to help promote the event. Call/text Baird at 805-705-5667 or Val at 805-215-6733 if you have any questions.

NOTE: If you would like to be included on the list to receive future invitations via email, please direct message me your email address and keep an eye out for emails from [email protected].

Photos from November 2023:

Love the venue choice :-). Congrats on 1 year and going strong.

@Jacob Youngberg - this is a great way to get into real estate, but be ready for a bumpy ride. I purchased my first property in Santa Barbara as a house hack with a partner and my wife. The three of us built out an ADU, did some light rehab to the main house and redid the landscaping. All said and done we added 40% to the value of the property in one year which my wife and I were able to access to buy out our partner. Although everyone won financially in the end, the partnership was tough. Three real estate rookies stretched themselves to the absolute max financially in order to make this deal work. It had to come together quickly because that is what we needed to do to land a deal in SB, so we weren't as detailed in our partnership agreement as we probably should have been. Once we were in the deal and living together, it quickly came to light that my wife and I were way more interested in sweat equity. We busted our asses and he consistently resisted. It was an awkward and uncomfortable situation for all and escalated for the entire year. Coming to an agreement on price when we purchased his share of the property was not fun at all. He felt he deserved an equal 1/3rd of the value, but my wife and I did 90% of the rehab work, as well as finding the deal and the project management. Unfortunately this stuff was not explicitly included in our agreement. We ended up paying him close to 1/3 to make a clean cut, but our friendship basically dissolved in the process, despite everyone coming out on top. In the end, it was still the best decision I have ever made! Owning basically anything in SB is a home run over the long term in my opinion. If you do purchase a house hack with a partner, the easiest way to structure it would be to outsource all the work to professionals and split the cost equally. If you do any of the work yourselves, agree on an hourly rate or some other PM fee ahead of time and track your time meticulously!

I run the monthly RE investor meetup in SB.  If you are interested in finding partners, there are a number of folks who attend regularly who are also interested in partnering / house hacking.  I am also always happy to talk more about my experiences.  DM me your email address if you want to be added.

 Great, thanks Jennifer!

The 29th Santa Barbara Real Estate Investor Meetup will take place at Third Window Brewing Co. on Thursday, November 16th from 6-8pm. We will be in the front patio area by the bar and old kitchen. Look for the sign similar to the above banner and call/text me (Baird) at 805-705-5667 or Val at 805-215-6733 if you are having trouble finding the group.

We are a group of real estate investors of all experience levels who get together each month to share stories, experiences, leads, etc. Whether you have only started dreaming of your first property, or just closed on your 100th; whether you invest out of state, or keep it local, we look forward to having you join.

We kick the evening off with quick group introductions so be ready to tell the group one thing you are seeking, and one area where you can provide value (everyone has something to give).

RSVP here AND post a response if you plan on joining so we know who to look out for and to help promote the event. Call/text Baird at 805-705-5667 or Val at 805-215-6733 if you have any questions.

NOTE: If you would like to be included on the list to receive future invitations via email, please direct message me your email address and keep an eye out for emails from [email protected].

 Thanks for the tip. I will be reaching out to Obie this week. Hope inland is treating you well :-)

Its a consideration, but unfortunately not as simple a solution as I would hope for.  I imagine this would take close to a year if all went well, and eat up a lot of funds. Not sure if it would be worth it.  You aren't the first person to suggest it, however. Thanks!

Thanks for the recommendation @Sarah Downey. We have tried Steadily but we have not tried Obie yet.  We will give them a shot. 

Insurance difficulties are everywhere these days, but it seems there is at least one (expensive) option in most instances.  We are having a heck of a time finding ANY option for our situation.  We live in one unit on our duplex consisting of two stand-alone houses in Ventura, California.  The other house is a short term rental.  We have found policies that would cover the entire property if it was not owner occupied, and we have found policies that would cover the property if the units were connected.  We have been working with multiple brokers who have tried with all the big name providers, as well as loads of smaller providers. We have also tried Proper, which seemed so promising, but they don't cover our zip code.  The insurance world is changing rapidly so I am hoping someone out there in a similar situation has had recent success.  I would hugely appreciate any suggestions, tips or tricks!