All Forum Posts by: Carrianne Mucho

@Ken Rodriguez If you have decided to invest around Sacramento, I know some property managers i could refer you to.  They can share their experiences in various areas. 

As far as what part of Sacramento is "best" to invest in...much will depend on your budget.  Have you determined what price point is affordable for you based on your available downpayment and required payments during times of vacancy? 

Entertaining read @Wes Blackwell!  You're a good storyteller and I appreciate your view on cashflow vs. appreciation even if it wasn't a dollar for dollar example. 

When you organize the march against universal basic income, let me know, I'm in.  Same concept as rent control...fraught with unintended consequences.  

@Dan H., thanks for sharing your story.  I just can't imagine not being able to drive to check on a property within a few hours, nor do I understand how an outsider can "research" a neighborhood in a few day's visit and figure out specifically which streets are good/bad.  You've got a point, they know they've got you over a barrel when you are a distant landlord.  And for the turnkey companies, great business model, but haven't they taken all the profit out of it before they sell it?  Why would they leave anything on the table; and if its so gravy, why not just keep it for themselves? 

That being said, maybe I'm missing something because I'm hearing alot about Indiana lately....

@Kyle Craig have you looked in surrounding counties ie; Riverside, San Bernardino? 

@Dottie Matheson 

http://www.sacbee.com/news/business/real-estate-ne...

http://www.dailynews.com/government-and-politics/2...

http://www.tenantstogether.org/updates/ab-1506-int...

@Adam Juodis - I am in California where it could be a bit different but I'll share how it works here.  When a transfer of ownership occurs, the assessed value is set at the market value of the property.  Here, we have limits to the rate of increase while a person owns the property. However, once it sells again, the property is re-assessed at the market value at the time of that transfer.  It usually takes the county about 6 months to catch up and "work" the transfer so buyers typically receive a supplemental bill 6 months to a year after their purchase for the portion that was "missed" in the prior tax year.  

Regardless of where you are, it is probably a good practice to visit the county site to discover the tax RATE for the property and apply that to the Market value (not the discounted value that you hope to buy it for).  Be sure to look for special assessments, bonds, and direct charges which might be billed in addition to the tax rate.  If you use that as your estimate, you will be playing on the safe side.  

@Amzy Dedios, @Wes Blackwell is right, it will be challenging to find availability in that price point.  He is great at researching!   For condos it is also important to ask the management agency what percentage of the project is non-owner occupied and if there is one entity that owns a large number of units.   

The one you liked, was it in Vicara by chance?  

@Jen H. - I would recommend contacting your local assessor's office.  I have heard of people transferring in an out of their personally owned llc without triggering reassessment in a case where they were 100% owner of the llc and also 100% owner of the property.  It may vary by jurisdiction so I definitely recommend contacting them directly.  You do not need to give them your specific property information for them to disclose the ramifications of this action.  In my area, there is a box that can be checked on the Preliminary Change in Ownership Report which indicates the purpose of the transfer:  ie; it may be transferred from an llc to a personal name for financing purposes and transferred back a short time later since most banks won't lend to an llc.  Definitely give your local office a call to confirm. 

Can you provide more details on your criteria?  Price point? 

@Account Closed knows this area well.  

@Abdul Rahman - what is the range of rates and points you've been quoted?  How many have you spoken with? 

Curious what the main reason is that you are seeking hard money instead of traditional financing? 

@Joe Koppel

http://kcmo.gov/tax/property-taxes/  Here is the link to KC's tax collector.  It shows a schedule of rates and there is a phone number you can contact them.  If you're looking for absolute confirmation, I'd recommend contacting them with the property address or parcel number and intended sale price to find out.