All Forum Posts by: Karen Margrave

Experience has more quantifiable value. Curious, why did you choose Architecture or General Contractor? 

As a moderator on BP for years, though I've been away for awhile, I've answered this question many times in one form or another. Ask yourself, what are you good at? What are your strengths? What is your experience in anything related to real estate, construction, development, etc.?  Developers are the ones that pull all the pieces together on a project, but even that's not set in stone. A developer can work with an end user on a project they want done, find agents to locate the land with proper zoning, location, etc. to support the type of project. Find architects or designers, engineers of all types, general contractor, etc. to design the project, and know how to keep the design where it's functional, cost effective, but has appeal. There's so many pieces to the puzzle. Developers can also do their own projects, and sub out all the different trades, etc. 

There are also a variety of skills that contribute to the development of a project. Sales, marketing, legal, etc. ALL of these things have value on a project.  Every state has different requirements, depending on the type of jobs. Some states you can do an open book test to be a contractor or a developer. Other states you have to be licensed for residential, but not commercial. 

What are your goals? What type of project would you like to develop? It may be working for another developer would have the most value, or a GC, Project Manager, etc.

Jason Jones and Zach Bowman. It doesn't appear there's anyone that's seen the Meetup post (I had a hard time finding it knowing exactly what it says)  I will need to figure out a better way to get info out. If you'd still like to get to get together and talk shop, I'm in. Call or text me, otherwise I'll tag you when I come up with plan B. 

How many BP investors from the Redding, Shasta County area are there?  I know the market is challenging, but there are opportunities that come up; and I'm curious how many are still in the business, or watching it? What is your niche? Room rentals, short term, long term, Buy/hold, flip, etc.? Are you finding properties? Is anyone building new construction? 

I'd like to start a Redding, Shasta County meetup if there's enough interest, and have posted a date.  I know BP search isn't very effective in pulling up and listing by date, so I'll try a general post. The link to the meetup is here. 

I used to build spec new construction in CA. However; with all the regulations, permitting time and fees, materials costs due to high fuel prices, taxes, coupled with workman's comp insurance, etc. , the high insurance for homes, etc., it's no longer possible. 

I'm focusing on real estate now, but there again, with the high costs of everything in CA, along with interest rates, the market where I am is extremely challenging. There's so much demand, but little availability of properties to sell. We have had major wild fires, which destroyed thousands of homes. Add to that the pressure put on our housing by the Covid refugees relocating here, and now those fleeing larger cities for smaller ones due to crime. We also have a local ministry school that draws a few thousand students of various ages, from around the world; and no dorms, so investors have bought up much of the housing for renting room space, in addition to the airbnb properties! It's DEMANDNG to say the least. We are tapped out for housing, with no hope of building new supply anytime soon. The ADU regulations don't help, as it's too expensive to build

The political policies in CA and elsewhere do have a direct impact on housing, affecting prices, landlords ability to remove tenants, etc. People used to threaten to sell their places and move out of CA, but now, every day we have clients doing just that! 

Let's do this! Bring your questions, haves, wants, etc.  It's time for a BP / Real Estate Investors Meetup in Redding, CA !! Come talk about the market. With YEARS of experience in the Redding market, as a Realtor, Contractor, and a RE Developer, I KNOW this market, and what drives it, etc. What niches are doing good right now? I've been through the ups and downs. We have one of the hottest markets, with some of the highest appreciation predicted in the country. Why?  Let's discuss it, and look where the opportunities are. What are your questions? Loans? Properties? Property management?  Insurance?  Zoning?  Contractors? Partners? WHAT'S ON YOUR MINDS? We will have some of the best and brightest in the local market coming as guest speakers once I know your investment priorities, challenges, etc.

Whether you're a seasoned investor, or looking for information to decide if real estate is for you, this is where you want to come and seek out answers. LOCATION: Will be determined once it's closer. PLEASE LET ME KNOW IF YOU WILL BE COMING.  Call or text me with any questions! 

Everyone in Shasta County area Redding, Anderson, Cottonwood, Palo Cedro, Shasta Lake, Weaverville, Lewiston, Red Bluff, Shingletown, Whitmore, etc. are invited to attend.  Tehama County

It shows it's a pre foreclosure, so until the process of foreclosure is finished, and lender knows what the costs all are, the listings shown are guesstimates basically. 

I have YEARS of EXPERIENCE in real estate, construction and real estate development. I KNOW my local area, and market.  In challenging times the agents that are used to the low hanging fruit leave. The serious agents, know that in these times, we need to know the market, and go the extra mile. I live in Redding, CA, Corelogic says our appreciation rates going to be 7.6%. Why? Because we have little supply and high demand, meaning agents are in an extremely competitive market, and have to go the extra mile, know their business, our area, and have a clientel, etc. 

Last month I paid my yearly dues to the Board of Realtors, $750. Monthly $60. Plus we have Websites, CRM, Marketing, Insurance, business licenses, Fuel (huge expense in an area where a listing can be 30-45 minutes away sometimes) networking events, fundraisers, etc. (I do the same with my construction business) The regulations and fees in CA are horrendous. Taxes are high. Fuel is through the roof. 

We often pay for the clients home warranties, inspections, or ? On one recent listing (where I've discounted my fee) I went by and noticed there was a roof leak. Clients are out of the area. I had someone come over and put up a tarp, called to get a temp repair, and will have roofer there today to give a bid on a new roof.  Later I went and picked up one of my clients flying into town at the airport to take her to pick up her rental car. She wasn't here on business, but building relationships is what it's about.  

Every sale isn't easy. I've had clients I've shown 30-50 houses to, over several months before they find the one that works. Others that wanted something specific, not on the market, so I did marketing to the subdivisions they wanted. 

Real Estate isn't the easy money everyone thinks it is, no matter what market you're in. Higher dollar markets require all the same things, it just costs more to do. 

Unless you know about it and have searched, you probably haven't heard. The FBI and the companies affected, don't want it known, for fear of panic. Russian hackers are seizing the accounts of the largest financials institutions (ncluding banks, title, escrow, insurance, govt. accounts, etc.) and holding them for ransom. The most recent is First American Title. They were held hostage for ransom. Luckily they realized it fast enough to take down all their tech, and isolate funds. However; they couldn't disburse funds to buyers, sellers, agents, or any vendors, etc. associated with those. This went on from Dec 21 through yesterday. 

Before that, it was Fidelity Title, U.S. Bank, and others. Even the MLS was hit a few months back, and it was down for days. IMAGINE! This amounts to BILLIONS of dollars, that though not stolen, are inaccessible until the ransom is paid. Though this article is on 1st American, they're just the latest. First American Hacked  

When doing any transactions for clients, or yourself, make sure you are communicating with everyone. Make sure funds are being wired when and where they should be going, that they are received and actually available to fund transactions before any deeds are recorded, etc. Thankfully other title companies stepped in to help with a work around, and the experience and professionalism of all involved paid off. These are crazy times.