All Forum Posts by: Ori Skloot

@Account Closed

Hi Sue,

I haven't looked at the area around Brentwood but I'm trying to get more educated on that market. Could you share with me the forum you mentioned in your post?

Thanks!

Ori

@Account Closed for giving that a name!)

You can still find deals in Marina Bay.  I just helped a friend buy a 2/2 condo at the Shores directly from an owner.  He paid $415k.  Similar properties being sold directly by the Shores (there is one large company that owns a little less than 50% of the condos and is now selling them all) go for $465k.   So it's not the best deal in the world, but allowed him to get his foot in the door.  He could rent the place out for around $2500.

Hi Elizabeth,

I am actively looking for investment properties in Richmond.  I actually think it's one of the few under-valued locations in the bay area.  Richmond still has a reputation from the outside as a dangerous city, but this is a big generalization.  The iron triangle and surrounding areas of Richmond are still very rough, but then there are some very affluent areas such as Point Richmond, Marina Bay and the Richmond Hills.  

What I like about Richmond is that there is a lot of government investment happening. To mention two big ones:

1. New ferry terminal going in near Marina Bay.  https://sanfranciscobayferry.com/node/330

2. Berkeley Global campus and rezoning of the South Shore area.  http://www.zonerichmond.com/welcome.html

Imagine what will happen to home prices when folks in SF realize they can have a 15 min ride from Richmond to downtown SF and live in a beautiful condo on the water for 1/3 of the price of SF.  I expect Marina Bay is going to have great appreciation.

Even the flats of Richmond have great pockets here and there where new home buyers have moved in and changed the feel of the neighborhood.  

I have investments in Texas that I plan to sell in order to invest more in Richmond.  Ping me if you want to chat more about it.

Thanks @J. Martin!  Looking forward to meeting in person at the networking summit in August.

Hi Michele -

(@Michele Ling)

I am also relatively new to BP.  I've been poking around the site for a few months and I'm now ready to start connecting with people.   I live in Berkeley and would enjoy grabbing a drink.  I have invested both locally and in Texas (buy and hold), so far they have all been good investments.  I've decided that I want to be much more hands-on, so I'm going to focus on the local market as I dive into real estate investing full time.   I am a real estate broker and a G.C. and I am looking for both flip and hold opportunities.   

Ping me and let's find a time to connect.

Best,

Ori

Hi Everyone,

I found an amazing opportunity in a prime East Bay (San Francisco Bay Area) location.  Two houses on two lots, being sold together at the  same time.  The property lines are screwed up, somewhere over the years the city messed up and now one of the parcel's property line encroaches on the other house.  For this reason the two parcels are being sold together "as is".  

Both properties need a fair amount of renovation, but once fixed up these would be prime houses in an extremely desirable location.  Asking price for both properties is $750k.  Once fixed up and the property line issue worked out with the city (I have done a little research into it and it is doable but would take some time) they could be sold individually for $750k+ Each.   I kid you not, there is an enormous amount of potential here.  If you know Bay Area real estate then you know that this is quite possible.

Because of the encroachment issue seller is requiring cash only offers.  I am a real estate broker and investor, but I don't have the funds available right now for this deal.  I am looking for other investors who would be interested in partnering.   You bring the bulk of the cash, I do all the work.

If you are a serious investor and have the cash available, please contact me.  This will need to happen quickly, house will sell within next 10 days.

Thank you,

Ori Skloot

Very interesting thread.  Thanks for sharing folks.   Would love to hear from other people on this topic.

Hi Jim,

I am also trying to find a small multi-unit property in Berkeley or the surrounding area.  I haven't been successful yet because I have found the same thing as Chris May, the deals I'm seeing don't make sense.  However, one trick I learned is that if a tenant's rent hasn't been raised each year by the rent ceiling, then you can give 30 day notice and immediately raise their rent to the maximum allowed by the rent ceiling increase for all the years.  If you want to talk about your particular deal please let me know.  I live in Berkeley and would be happy to be involved if there is an opportunity.