All Forum Posts by: DG A.

Yeah @Jon Q. I'm hearing that general idea a lot. I think it will work out that way too. 

Hey @Jon Q.

It's all good man! Thanks for the insight. I'm curious ---- how do you think tech influences rental growth in SF/Oakland? There's other interesting data out there that plots the average size of a VC deal against rental rate growth for the Bay Area, and there's a lot of correlation. 

I didn't know there was  such a thing as the "S&P Case Schiller San Francisco Index."

I will check that out. There more data the merrier, I say! :)

Hey @Jon Q.

I'm not selling anything. I'm not even past my first year in investing. I started shopping for my first property in January, and just closed in August. I'm here to learn. 

I do work in tech. I manipulate data and web design for a living. 

I think you mis-understood my intent. I wanted opinions from other folks as to the validity of the content in the article I linked to. I most certainly will not stick to what I know! ;) I want to learn Real Estate man! Including from smart guys like you. 

Thanks for sharing mate. Happy Friday! :)

Be happy!

-Danny

hey can i get tyne stats too?

Rent control ordinance just got a little tougher in Oakland!!!

Now it's 2 years before an owner occupying a building 3 units or smaller is exempt from rent control. 

Here's the news: http://www.courthousenews.com/2016/09/21/oakland-m...

Here's the actual update to the ordinance: http://files.constantcontact.com/6ed57cf7001/beee5...

Do a "skip trace" on them with a tool like http://www.accurint.com

Protected tenants are harder to evict,  but u can still raise the rent no problem in oakland. 

Here's what I use: https://docs.google.com/spreadsheets/d/1K-DUa6Kaz1...

^It accounts for transfer tax, but not the oakland business tax (yet). Fill in the green highlighted cells. 

Just make a copy of it, then you can manipulate it. I used it to buy my duplex, and I'm happy with my results there. 

Hope this helps!

@Arlen Chou

When you say "the work to get the properties up to market rates is not as easy"  in Oakland. --- Do you mean doing "buy-outs" ? Or waiting for tenants to move?

I'm curious how the more experienced guys go about getting the rents to go up in a rent controlled city like Oakland. What are the strategies you use to get the low rents to go up?

Nope, you can't @Simon. You HAVE to move in to get the exemptions.

Otherwise,  cash for keys is 7your best bet. I hear 5k - 10k is what it takes to get people to move "voluntarily."

Better said, 3 units and below, are exempt from the just cause to evict ordinance. It does not apply at all from the day you move into a property 3 units or below, and establish it as your principle residence. If you buy a fully occupied triplex for example, and are trying to move in, it DOES apply to you. The ordinance stops applying to you the day you move in and establish the building as your primary residence. 

For the rent control ordinance, you have to live in the property (3 units and below), but you are not exempt from that until after 1 year of living in the building as your primary residence. 

For buildings 4 units and bigger, in Oakland, they are not exempt and both ordinances apply to them ALWAYS.