All Forum Posts by: Owen Schwaegerle

@Jonathan Olcott that would be great to get him to pay off the loan as he suggested - it would make it much easier and cleaner for you to take title. Have you written him an offer yet? It would be best to get it written up with terms that work for you and to make sure that you are protected. 

In California, our standard CAR contracts do have an addendum for assumed mortgages and a seller financing addendum. These contracts have been vetted over by numerous attorneys and have protections in them to make sure you can purchase the property above board and be complicit with the law. 

Congrats on this opportunity! It sounds like a good one, and you may be able to turn it into a great deal!

@Henry Clark thanks for the comment!

We will be having our next SLO Real Estate Investor Meetup on March 22 at 6:00 PM at the Quality Inn and Suites on Monterey in SLO. We will be having an estate planning attorney share about how to create an estate plan, set up entities to protect your assets, structure partnership agreements, and leave your property to your heirs.

This is the third part of our wealth building series. Please let us know if you can come so we can have an accurate head count for the venue.

The next SLO Investor Meetup will be at 6:00 PM on Wednesday, February 22 at the Quality Inn & Suites on Monterey in SLO. Our focus for Q1 2023 will be How to Build Wealth and Keep It. Real estate is one of the best investments due to the incredible tax saving benefits. Our guest speaker, Tom Cook, CPA, will elaborate more on this in detail.

Tom has over 25 years of accounting and tax experience, first at KMPG and then with various technology firms in Silicon Valley. Tom helps real estate investors save money on taxes, and he invests in real estate himself. Tom received his degree in Accounting from Cal Poly, San Luis Obispo in 1991 and returned to the Central Coast ten years later. He and his family live in Pismo Beach, and his children attended local schools. You won’t want to miss the next investor mixer where he will cover tips to save more on taxes and showcase how real estate can help.

Do you think you can make it? Please RSVP so we can run an accurate headcount for the venue. The address is 1631 Monterey St, San Luis Obispo, CA 93401.

How have are you doing working toward your real estate investing goals? We have just 30 days left since we created 90 day goals. Have you made progress? Remember, it's about progress not perfection. Just take action!

If you are ready to check in with other investors on the Central Coast, mix and mingle with the best in SLO County, and learn more about wealth building you won't want to miss this next session!

If you missed out last Meetup you can catch the replay here!

Best wishes,

Owen and Ben

SLO Investor Meetup

Keller Williams Realty Central Coast

CalDRE 02040597 / 02026424

Consider what your total cost of housing is currently. Now find a way to cut that cost in half or reduce it completely through house hacking. If your rent is $2000/mo, and you could buy a place for $4,000/mo with PITI, it might seem like a bad idea. But, if you have someone in a duplex paying half of that, and a roommate paying a little bit you could come out ahead.

Oftentimes, a house hack won't have massive cashflow, but you have to consider the other variables that are putting money in your pocket:

#1 Every month you own it you are paying down the principal. Putting $ in your pocket rather than someone else's pocket.

#2 What is the rate of appreciation for real estate in your market (historically 5% over 100 years). If you bought a $500K property, that means it would be going up $25K/year which is already a huge bump to your net worth.

#3 What would the tax savings be owning a place that is also an investment? I'm not a CPA, so please confirm with your tax advisor, but you can write off a large chunk of the expenses of ownership on investment properties. If you own a multiunit and live in it, you will only be able to deduct a portion of the pie for certain expenses like depreciation etc. 

Overall, I say just do it! The best time to plant a tree was 20 years ago. The next best time is today!

@Yue Lehman Looking forward to having you here!

The next SLO Investor Meetup will be at 6:00 PM at the Quality Inn & Suites on Monterey in SLO. Our focus for Q1 2023 will be How to Build Wealth and Keep It. Due to the incredible tax saving benefits, one of the best wealth building tools available in real estate is the 1031 exchange. Our guest speaker will be 1031 Exchange Specialist, Jay Peet.

Jay started his career in Real Estate over 20 years ago working for the nation's largest title insurance and escrow company. From there became a certified 1031 exchange specialist assisting taxpayers in deferring gain on over $1 Billion dollars in real property transactions. In 2015 he became the Team leader and chief operation officer of Keller Williams in SLO county. Jay is a lifelong resident of the central coast, a proud father of three young men and enjoys engaging in the outdoor activities that living on the central coast provides,

Do you think you can make it? Please RSVP so we can run an accurate headcount for the venue. The address is 1631 Monterey St, San Luis Obispo, CA 93401. We will be in the back cafe area across from the courtyard.

How have you been doing working toward your real estate investing goals? At the last meetup, Ben challenged all of us to set a 90 day goal and write it down on a yellow sticky note. That way you could look at the goal every day and make progress towards it. How are you doing with that goal?

If you are ready to check in with other investors, mix and mingle, and learn more about wealth building you won't want to miss this next session!

Best wishes,

Owen and 

SLO Investor Meetup

Keller Williams Realty Central Coast

CalDRE 02040597 / 02026424

We are doing our next real estate investor mixer Thursday, December 1st at 6:00PM at Benny's Pizza in SLO. Our guest speaker is our very own  @Ben Tilbury. Ben has been involved in real estate as a Realtor and Investor Specialist for over 5 years. He has done fix and flips, wholesale deals, BRRRR investing, and multifamily apartments. He has recently been learning a lot about syndicating deals and taking down larger properties.

At our next mixer, Ben will be sharing some of his experience with finding and funding larger deals. This is going to be a good one. If you'd like to go please RSVP so we can save a seat for you!

Hello BP Fam!

Hope you are having a great week!

We are doing our next Central Coast real estate investor mixer on Thursday, October 27th at 6:00PM at the Benny's Pizza Palace in SLO. Our guest speaker is a residential/commercial Realtor, Abel Contreras. In a few short years, Abel has been able to build a sizable business, broker countless deals for his clients, purchase apartment buildings, vacant lots with development potential, and homes at massive discounts. Abel has dialed-in underwriting processes that allow him and the Invest SLO Team to analyze deals to determine whether they should be brokered or purchased. He will be sharing some of the these underwriting tips with us at our next event.

If you want to learn more about finding, analyzing, and funding great real estate deals, then you won't want to miss this event! We will be meeting on the back patio of Benny's Pizza Palace and Social Club at 6PM on Thursday, October 27th.

We usually have a turnout of about 20-30 people, so if you'd like to go please RSVP so we can save a seat for you!

f you want to learn more about real estate fix and flip, Multifamily and hotel development, wholesaling, and building a successful investing business you won’t want to miss our next Real Estate Investor Mixer. Our guest speaker @preyesh_patel has a background in hotel development and management. He started investing in single family in 2020 and has done over 50 fix and flip/wholesale deals. Right now he is focused on doing high-end, multimillion dollar flips, Multifamily development, and wholesaling. He has a vast array of knowledge and is a perfect example of Learn by Doing and is a Cal Poly Proud alumni (and one of Owen’s fraternity brothers in ZBT). We will be hosting this mixer at Benny’s Pizza Palace and Social Club on Monday, September 26th at 6:00pm. @Ben Tilbury Will you be able to make it?