All Forum Posts by: Ori Skloot

I would definitely talk with @Chris Mason who is a local mortgage broker.  He is a huge contributor to bigger pockets and a wealth of knowledge. He has helped me get through some complicated deals and is a huge asset for our real estate team.  I can't recommend him highly enough.  

The above posts show that this is very area dependent. In the East Bay Area, a lot of jurisdictions are encouraging Accessory Dwelling Units (ADU) and making the permitted process a lot easier. I am building an ADU in Albany and in that city you don't even need to inform the neighbors your are building one. So long as the ADU meets zoning codes, in this case it can only be a max of 600 sqft, you can get it approved. Defenitely go talk with your city permitting office.

That said, $100-120 per square foot to build is not realistic. I'm a contractor and I know. If you get a good price on construction and don't have an expensive design and finishes then it's more like $200-250 per square foot.  Maybe even more. 

Great topic guys. Just wanted to throw in my two cents and agree with those that say door knocking can be a very fruitful way of getting deals. 

@Andrew Wong  I posted for $100/night.  I then raised it to $120.

@Ariel Smith Good thinking!  I actually just did that!

@J. Martin Finally got the @ to work for you.  Thanks for the great feedback.

I recommend talking with @Jenifer Levini   She was incredibly helpful in thinking about and putting together a deal structure for a multi family I was purchasing.  She is a real pro. 

Thanks J!  Can't seem to @ you.  Looking forward to the summit this year. 

Jason,

I think Santa Cruz may have some opportunities for finding a good enough deal that you can do better than break-even and then enjoy Bay Area appreciation.  It just takes some time and good sleuthing.  Good luck as you start your journey.

I would prefer to have the 30 year loan and then make extra principal payments to pay down the equity when you are able. That gives you more flexibility. Getting a HELOC against your primary residence is a sound investment strategy. Use the HELOC to buy a property with cash, then finance it and put the money back in your HELOC.

I have owned a SFD rental property in Katy for over a decade.  The rental market is very strong, not a bad area to invest.  Why would you buy a new build home when you can try to pick something up that is newish and try to get a good deal?

Hey folks,

After reading about people's experiences on BP with Airbnb and short-term rentals, I decided to give it a try.  I have a studio in Berkeley that I have leased out for years, but I didn't look for a new tenant this time and listed it on Airbnb.  Within a week, almost the entire summer was booked.  Then it occurred to me that I probably listed it too low, and raised the price.  LOL...live and learn.

Now I am in need of a reliable house cleaner.  Seems like the average cleaning fee on Airbnb in my area is around $30-40.  The studio is only 400 square feet so would be easy to clean.   Anyone out there in the East Bay (Berkeley, El Cerrito, Oakland) have a lead on an individual who does short-term rental cleaning?  If I can't find someone through BP my next step is to try TaskRabbit. 

Thanks for any help!