All Forum Posts by: Karen Margrave

@Wesley Carroll @Maari Christante @Mike Fish @Justin H. 

https://www.biggerpockets.com/...

The first meetup of the new group, KickAss Real Estate Investors, will be on Tuesday, September 27th. Once we have an idea of how many we will have and the interest, I will book a place. I'm checking with a few different venues right now. Please go on to the Meetup website and sign up so that I have one place with all interested people. (PLEASE SIGN UP ON BOTH PLACES, that way I can make sure you're notified when I have the location, etc. in addition, it helps draw more people to the meetup when they see there's good participation) 

Things in the market are changing. More listings are becoming available, and home prices have started to stabilize. What does all of this mean for investors? Will there be another crash? Will money be available? What is the best strategies and niches? Partnerships? Creative ideas? LET'S TALK! 

It's been awhile since we had a meetup. Getting enough BP members consistently has been a challenge. I'm starting a new meetup, where we will open to others too. My daughter/broker, whom some of you have met, will be co organizing with me.  By having more interested parties, it will be better for BP members opportunities.  We will have guest speakers, on subjects from lending, the market, title/escrow, building officials, etc. Let me know what it is you're interested in learning about. 

Please respond on this thread too, and comment. 

Call or text me with any questions. (530) 782-1800 Karen Margrave

Some of the local areas that have properties investors may be interested in are:

Redding, Shasta County, Tehama County, Siskiyou County, Cottonwood, Anderson, Palo Cedro, Shasta Lake, Lake Shasta, Mt. Shasta, Shingletown, Burney, Lewiston, Trinity Lake, Trinity Center. 

Types of properties currently in high demand: ADU, STR, Short Term Rental, Long Term Rental, Storage, MFD, SFR, MFR, fixer. What are you looking for?

Hello everyone! Things are starting to open up a little more in our local market, and thought it may be time to get the meetups going again in September. In order to have more participation, as we discussed at the last meetup, I am opening it up to the public at large. Hopefully we will pick up more investors, and they can learn about Biggerpockets too! win/win. Meetup

I think you'd be better off talking to your private money lenders and ask them what it is they're looking for in a deal, and then find deals that work. if you have a deal that you're looking at and trying to fund, look at every scenario you can think of and then propose it to some lenders. If they don't like it, find out why.  There's different options. When we were in so cal building spec homes, there was a rare vacant lot that I wanted to buy, but our money was tied up. I was able to find someone to buy the parcel and hold on to it. When I was ready to buy it, he subordinated to the construction loan, then after construction and upon the sale of the spec duplex, he was paid back his original investment plus a healthy profit. Win/win!!  

You haven't given any information on which we can look at it and give you any kind of opinion. If you're considering buying it, get a licensed plumber to go over and give you a bid on what it takes to deal with the items mentioned. While you're at it, get a home inspection and pest inspection and figure out all the issues you're dealing with and the cost to remedy them. Nobody on BP is going to be able to tell you if it's a good deal or bad based on a portion of a sellers disclosure. What we can tell you is that if you're going to buy a property, do your due diligence. 

Sounds like a can of worms. It's priced too high based on rents, and the work that apparently needs done. If a place were 100 years old but had been impeccably maintained, that's one thing, but a major fixer, with asbestos, probably lead paint, etc. would be a money pit. Walk away. Just because you can do something doesn't mean you should! 

Congratulations! You've already been given some excellent advice. I just want to tell you not to short change yourself. The experience working in sales in the ranch store is sales experience. However; the discipline that you have from being in the military will give you a huge advantage when doing real estate. Though you are working under orders in the military, you are used to systems, another big advantage. Ethics is also another very important thing in the real estate business, as is networking. I'm sure in the Navy you get used to being around groups of people, and you talk ... bingo!  Also, you learn to listen, another big plus. 

Everything you do in life has value. Never underestimate that. One of the most important things, is to know what you know, and never be afraid to admit you don't know something, but will find out the answer. Good luck. 

Everyone seems to always do LLCs, however; what about S Corps? I'm not up to speed on all of this, and thus why I always recommend talking to an attorney or CPA that knows what they're doing, the most recent laws, and your specific circumstances. 

Whoot! Whoo! on the 2000 posts!! plus all your other duties on BP. I've definitely been slacking and am re-engaging. Though I'm not actively building right now (materials costs don't make sense) and doing sales, I still have some nuggets that may help others I think.  I can't wait to see all the answers from all of you!! 

As you know, there are pros and cons. The pros are if you're buying a property that is listed you get your portion of the commission, which can be substantial. The cons are, you have more liability. I'm a licensed general contractor and real estate agent. When we were building spec houses I used to be the listing agent which saved us a lot of money. It also allowed me to list properties on MLS. You don't have to pay the fees to MLS or Board of Realtors if your license is inactive. You can activate it when you are ready to use it. Good luck. You have plenty of time to figure it out.