All Forum Posts by: Noah Laker

What's up Tim! I'm a broker, investor, and property manager here in California -- 100+ rentals mostly Airbnb and some LTR.

Multifamily is awesome, you get a lower cost per door and you own your units in clusters which makes property management a breeze. Condos on the other hand come with high monthly HOA fees, restrictions on rentals (particularly STR), and the resale value is affected as a result. I would not recommend buying a condo unless for some reason you want to live in one.

I own 7 doors mostly small multifamily here in Sacramento. Prices here are still relatively cheap but the economy is fundamentally strong (state capitol, two major universities, fast growing population, etc). Nice monthly cashflow and good longterm prospects for appreciation. 

What's up AJ! I'm a 24 year old broker / investor / PM (100+ Airbnb listings and some LTR).

Thrilled to hear that you're jumping in young. The sooner you start, the better position you'll be in when it comes time to retire. And props to your family for instilling this mindset. 

I just closed on my 7th door last month in California, happy to talk shop and share some rental strategies that I use to extract maximum revenue. Consider me a friend and a resource -- and welcome to BP!

That's a bit of a stretch right? The effect definitely makes a dent but those two companies do not control our whole housing market.

How about greed and stupidity? Where does that factor in?

How about the hyperinflationary economy scaring everyone out of saving cash? 

Hey Cara :)

I am a broker and property manager (100+ STR/MTR/LTR)

I manage some properties with shared laundry and I also have extensive knowledge of smart locks due to the Airbnb business. Schlage Encode is way more than you need, and 5-10x more expensive than other viable solutions.

Try a simple static code lock like this. You don't need all of the sophisticated integrations that Schlage Encode offers. You don't even need remote access since the laundry room code doesn't need to be changed frequently. 

https://www.homedepot.com/p/Defiant-Single-Cylinder-Square-E...

Hope this helps <3

Hey Jamiru, I'm a real estate broker and manage over 100 STR properties.

Pros of renting your primary: You can get around many restrictions depending on your area, and you can maintain control over the property and keep an eye on it. 

Cons are obvious, you'll have different guests all the time and you never know if they're gonna disturb you. Be sure to vet your guests for good review history.

Certainly you can talk to a lender about a HELOC or similar loan program if you're short on cash to complete the job. Make sure to run comps on Airbnb / VRBO and make sure the economics make sense.

As far as tax consequences, talk to a CPA. Always maintain records. 

Good luck and hope this helps!

What's up Jad, I'm 24 and a broker based in Sacramento. I own 7 and manage 100+ doors, primarily STR/MTR.

Love working with young people, please reach out and we'll talk. Great to see you getting into this space so early. 

What's up Garrett, welcome to BP! I'm a real estate broker and investor, and I manage 100+ STR/MTR properties.

Congrats on being so nicely positioned in a tough economy and for getting into this space. Financial freedom is within reach if you put the work in.

Firstly, are you planning to move from your current home? Don't make a decision on your primary without factoring in lifestyle preferences. If you're planning to move anyway, you could rent it, but the capital might be better utilized elsewhere, so don't rule out selling and reinvesting. Primary home capital gains are non-taxable up to $250k or $500k for married filing jointly. At $2800/month for that property, you might consider reinvesting or just using a HELOC so you can keep that low interest rate while enjoying the equity you've accrued.

I'm in Sacramento, it's the perfect balance between appreciation and cashflow. I manage properties in several metros but my money is only spent here. 

House hacking is a classic method. Highly recommend. I've done a few and helping some clients do the same right now. BRRRR is a bit more advanced and in this market it's tricky at the "Refinance" step.

Anyway, I hope this helps and please feel free to ask any other questions. 

Hey Ratesh, I'm a broker and investor specializing in multifamily, and manage 100+ STR/MTR/LTR properties. Rent control in California is pretty tough. AB1482 essentially disallows owners from booting tenants out without cause.

If the tenants are well below market rate, and if they've lived there for at least a year, you're not gonna have an easy path to get them out.

I went to high school in San Jose but exclusively invest in Sacramento now. Have you considered this or other markets in California which are more friendly to investment? 

Hey Casey, I'm a real estate broker and investor, and I manage 100+ rental properties - mostly STR/MTR and some LTR.

One of our specialties is 1031 exchange, I partner with IPX1031 as our qualified intermediary. 

Firstly, YES any investment property can be considered "like kind." This includes multifamily -> commercial or vice versa. 

Secondly, your best bet is to sell your portfolio as a package deal in order to simply the transaction and to capture the full benefit of a 1031 exchange. Otherwise things may get hairy if you are trying to sell each property individually, escrows will begin and end at different times and you'll end up in a crunch. 

Recommend putting the properties together in a package and selling to a sophisticated investor. It will require a bit more work up front but well worth the payoff. 

Storage units have done very well the last few years but other commercial inventory is struggling. Definitely wanna do a deep dive into your long term goals and market stats and make sure your "upleg" is the right choice. 

Hey Todd,

I am a real estate broker here in Sacramento and I own 7 doors / manage over 100 STR, MTR, and some LTR properties.

I am in escrow right now with a client from here on BP doing a very similar strategy, living in one bedroom of a SFR and "Airbnbing" the other rooms.

Love to connect!