All Forum Posts by: Nicky Zannis

@Kimia Dargahi

Part of the issue is that there are literally more realtors in the USA than properties for sale… that is a fact. Many have gotten into the business with the hope of making the big Dollars, but have yet to have the longevity or patience to develop the skill set. You need to seek out skilled professionals, and not waste their time.

Investors can be LAZY. Just as everyone wants to be a realtor, everyone wants to be an investor, and there’s a lot of BS floating around. I can’t tell you how many randoms a day flood into my inbox on automated email or text campaigns, asking for off market deals from my network. I don’t know you, and I can’t put deals out into the open.. I dedicate my my life developing my network, and people expect me to hand it over, all while looking to pay no buyers commission because they promise me the eventual listing. If that’s the case they better know how to do their homework.

Seriously. You want deals and insight. Do what we do and prospect. Develop RELATIONSHIPS by setting meetings with top realtors in your prospective markets. Get in there, introduce yourself, explain what it is you are looking for, and KEEP IN TOUCH. We may only get so many creampuff deals a year, so play that numbers game and meet top shelf professionals, and have the know you.

If you make that sort of effort, you may find that you’ve developed a team of agents who are willing to go the extra mile and get you what you need. As long as at that point you perform effectively and don’t waste people’s time, you’ll be in good shape.

Create a profile on meetup.com and take a look in your area. I am new to this as well, but having previously been on meetup for other organizations, and exploring these threads, meetup seems to be the place to go

I have a long and loving history with Lake County, Kelseyville and the lake in particular. Everything that Jay said is accurate. There are certainly good things, as well as bad. My family has owned a vacation home on the lake for 40 years, and I proposed to my fiance there last weekend. It can be a magical place.

Economically the area seems to be recovering from the economic recession at a snail's pace. That coinciding with the mismanagement and closure of Konconcti Harbor Inn 10 years ago, much of the draw to the lake for tourists has slowed, and most businesses subsequently failed. Rarely is there a new business started in the area that still exists the following season. They continually come and go. For this reason, I don't see there being a good pool of tenants or a ton of demand considering the economy is so slow and people who spend time and $ there typically have vacation homes there.

The fires certainly have not helped, and I know they have had moratoriums for Home insurance in the region.

That being said, for a place to purchase acreage, it still is relatively cheap compared to that of other wine country atmospheres and can have all the same charm. Air BnB could be a good option, and if they ever get Konocti online again the good times really could resume. They certainly are taking their sweet time, the bar and marina section was supposed to be open July 4th... Lake county always makes promises that they rarely deliver on and getting people to show up can be very unreliable. What can you say, the nature of the place can take your breath away

I would be interested as well. Here on the Peninsula as a residential realtor, I always want to discuss with fellow investors and gain more insight into the driving economies here in the Bay Area.

Throughout California, Gold mining communities have dried up and turned into Ghost towns. Similar situations have occurred throughout the Mid-west with coal... I assume all would depend on what your investment timeframe and what your goals are. Investment in a town driven off one economic factor could prove risky in the long term. If this is the case, understand all the economic factors in that area that drive the job force and how those factors could affect demand for tenants.