All Forum Posts by: Houston Garcia

@Julie Kern Congrats! Love learning other members' stories - great to learn and get inspired.

@William Webb - I would strongly recommend what @Chris Mason said - the CAR Residential Purchase Agreement has tons of built-in protections for buyers and sellers (particularly mediation & arbitration clauses). Any particular reason why you're trying to stay away from the CAR form? 

Ever thought of purchasing or flipping an investment property in San Francisco but not sure where to start? Or you're ready to scale up from buy-and-hold single-family investments or have even considered flipping multifamily buildings.

If you're looking to get started in the world of multifamily buildings, looking for off-market multifamily properties, financing, or partners - this is the event to attend!

Highlights include:

• How to find multifamily projects with add-value & positive cashflow opportunity, while minimizing risk and liability.

• How to finance and properly manage a buy-and-hold multifamily versus flip project.
• Current market trends & future forecasts on the Bay Area real estate market, short-term and long-term.

• Our exclusive list of off-market properties and pocket listings, which is updated weekly. These properties are only available to a select group of investors.

Learn how you can make your money work for you, not the other way around. We will show you how to get started investing in multifamily buildings, fund your deals, how to access our off-market properties, and more.

Please note that this event is intended for real estate investors, not industry professionals. Active real estate brokers and lenders are kindly asked to not attend.

@Levi Potts I have to agree with what @Alexander Araniba said - look into the East Bay. There's tons of great properties out there (and significantly more inventory than SF/Peninsula) at affordable prices. I've had clients recently purchase cashflowing SFH and condos in Oakland - and they even have enough leftover to purchase second property as a pure rental.

Anything along the BART line will likely be a good long-term investment. Decent SFHs in Concord used to be in the low-mid $200s just 2 years ago, now they're closer to $450k+. The local market is turning more into a Buyer's Market lately, with prices softening a bit and listings seeing more days on market - but I anticipate the Spring buyer frenzy will start around March this year.  

@Brandon Schlichter Thanks for sharing your story. Love hearing fellow investors' stories and backgrounds. Can't imagine acquiring 40 rentals in under a year - definitely inspiring. Keep it up!

That figure is in line with what a friend of mine did on his corner lot, but he did most of the work himself for around 500 SqFt that he uses as a short-term rental. 

Generally top of the line brand-new residential renovations/construction are in the $200-$250 per SqFt range here in the Bay, but IMO that would be over-improving for a small ADU. The labor is where a big chunk of the cost comes from due the shortage of good contractors/competition around here.

Interested in learning how to prepare your property for the Spring 2019 real estate market?

How is the market doing? When's the best time to sell? What do I do to get the highest price for my property? Answer these questions and more by attending our workshop to learn all the secret tips & tricks to maximize your return and minimize your days on market. Snacks & beverages will be provided.

Highlights include:

• Market data: Current trends & forecast (short-term & long-term) on the local Bay Area real estate market.
• How to maximize your sales price: Learn what improvements add value and appeal to buyers - and which don't.
• How to market your property properly with experts: Pricing tips, negotiation tactics, staging, disclosure packages, and different marketing techniques for various property types.

Directions: Please enter 600 Townsend, go to the double-doors to the left of the security desk, and the event will be on the first door to the right - Compass Real Estate. 

If you have any questions, feel free to contact Houston Garcia @ 415.715.4248 or [email protected]. Please note that this event is intended for members of the general public, not industry professionals. Active real estate agents are kindly asked to not attend. Thank you.

@Mikhail Katz, I have to agree with everything that @Tobey Grey said - particularly expanding your search within a few miles of BART and the potential to add an ADU.

There's plenty of 3BD+ SFH in the sub $500k range that are perfect for an owner-occupant with 2 roommates and ADU potential (there's . a very informative PDF on the City of Oakland's website about ADU restrictions). The cost for ADU's can be $75k+ though, so just be aware of that.

I've recently gotten some clients great househacking deals in Oakland (decent areas between Lake Merritt & Fruitvale station) - and they even are searching for more properties to add to their portfolio now due to the deals they got. The market is currently a bit slower - with properties seeing more days on market and less offers. In my personal experience, there's quite a few properties that sell at asking or even under in Oakland.  Anything around Lake Merritt will likely be extremely competitive unless it is a complete gut job.

@Justin Christian Macabenta Primarily Oakland, with a bit of Richmond. Anywhere along the Bart line really. The closer to the City, the higher the premium/return so far. 

 Justin - I have to agree with what Frank has said. The market is a particularly weird right now (I mean, when isn't it?). We're seeing longer DOM, and a few price reductions - but it really depends on the property. Most indicators point to March being when the local markets will pick up this year - but overall, buyers have been a bit more hesitant and wary of where they will park their money - the desperate competition factor simply isn't there.

That being said, I have some clients working on some big projects right now (luxury SFH flips over $4m+ in SF) with very comfortable timetables and margins. Of course, there are more headaches and risks for those sort of projects. Lately, I've had a few clients buying sub-$500k residences in East Bay with great success and adding value by fixing them up and renting out rooms. This is a great strategy for the long-run.