All Forum Posts by: Carolina Solorzano

Start getting a hold of brokers out there now if you can and build your network. Read every business journal and have a better understanding of what works best in your market, even if things change, you have a base line to your analysis. 

If you can start attending any REIA clubs that specialize in investing out of state (since you're in the Bay Area) and talk to others, I'm sure you're not alone.

Here's a local REIA meetup you may want to attend:

https://www.meetup.com/Los-Gatos-Real-Estate-Netwo...

Carolina. 

I have one in Santa Clara. PM me if you want info. 

Hello Charlie, 

Here's our story.

My husband and I bought during the recession in San Francisco. We lived and remodeled the last two homes we've purchased in the city and sold for profit. Now we're reinvesting those funds into multifamily in Sacramento to diversify our portfolio. This wasn't overnight and to be frank many mistakes were made along the way. The best thing I can offer is to attend as many meetups as possible in your area (you're in the valley, there are at least 3 meetups in your radius). It's harder now because it's much more expensive than 8 years ago, but it all comes down to your purchase price. 

Also, have you read Millionaire Real Estate Investor by Gary Keller? His and Brandon Turner's books I think give you the best summary. 

Carolina. 

Hello Elena and welcome to BP! 

There are few property managers who will take on any shorter length time than 1 year lease, some do 6 months lease (in the US).  At least what I've seen is that you will get a costs sheet from your PM, however you will be responsible for adding such expenses as property taxes, mortgage payments and so on, which will be reported to your accountant at the end of the year. 

Most PMs charge on a scale between 8-12% of the monthly rent and if they have to look for a new tenant for you, they will charge 50% of the new tenant's first months rent. 

About rents, prices will vary if you do corporate housing rental versus long term. 

Lastly, do your homework on property managers, as everyone here is correct. Find an amazing one and stick with them, or else it's garbage. 

Best, 

Carolina.

Travis- 

Try Sharon Fazio at Diaz-Christians in Santa Clara. She's local and has clients with investments out of state. 

Does it have to be in San Francisco? I have one but she's in Santa Clara and knows plenty about RE. PM me if you want her info. 

@Myrna Santos I'm also interested in locals that are trying to get into the Sacramento market. There's a local meetup group in Sac run by Al Williamson. However, there's plenty of local groups in the Bay Area. 

I must agree with @Josef Roberge here. My building plans for my property in San Francisco is now 2 years from submittal of plans to the city. From hiring my architects and structural engineers for plans, it's now been about 2.5 years. However, this is for a larger scale remodel on a two story home, I don't know what your plans are and I'm sure this time frame changes drastically from city and state you work in. 

2011 Outback with about 137K miles on it. I use it for work and travel. Great on gas and perfect for Bay Area hills.

Is San Jose too far for you? We use Dan Gonzales at Ferrari Ottobani and Caputo. They're on West Santa Clara Street.