All Forum Posts by: James Park

@Minh Le,

I am not arguing that California isn't the home to some of the most innovative companies in the world or that there are more millionaire and billionaire households living in California than any other states. 

The point of this article is that jobs are leaving California due unfavorable business climate. 
Many of the valley technology companies are branching out to different states. For example, Facebook just opened a 5045 sq ft office in Northwest Atlanta close to Georgia Tech. You can see that among the 247k households who moved out of California, 1/3 of the Californians moved to Texas due to its business friendly climate. California maybe the economic powerhouse of the past, but Texas may very well be the economic powerhouse of the future. Please take a look at some of links below to show you want I am talking about.

1. Toyota to move headquarters from Torrance, CA to Texas
http://www.latimes.com/business/autos/la-fi-toyota...
http://www.forbes.com/sites/dalebuss/2014/04/27/it-makes-sense-for-toyota-to-leave-california-for-texas/
http://mobile.bloomberg.com/news/2014-05-15/toyota-texas-move-could-generate-7-2-billion-analysis-finds.html

2. Nissan moves out of LA for Tennessee

http://wardsauto.com/news-analysis/why-nissan-leav...               

3. Apple announces $2B global commander center in Arizona

http://www.cnbc.com/2015/02/02/apple-announces-2b-...

4. Chinese buyers feed new energy into Texas real estate

http://www.cnbc.com/2015/02/02/apple-announces-2b-...

5. Gov. Jerry Brown pleads with companies to stay in California, and scolds those that are leaving. He, too, recognizes the storm clouds over his state’s business climate

http://www.washingtontimes.com/news/2015/feb/17/editorial-businesses-flee-californias-high-taxes-a/

An American icon, the Campbell Soup Company, is closing its plant in Sacramento, leaving 700 people without jobs. The plant was built in 1947, and some of its workers have worked there for forty years or more. 

Most of the items produced in Sacramento will be transferred to Campbell’s plants in Texas, North Carolina, and Ohio.

Comcast announced two days ago that it will close all three of its call centers in Northern California, including one in Sacramento. 1,000 Comcast employees, including 300 in Sacramento, will have to pull up stakes.

That’s 800 jobs out the door which gives Chevron a larger presence in Texas than it still has in California

Charles Schwab's plans to move about 1,000 jobs from San Francisco to Texas inflamed Texans who fear that more Californians will ruin the Lone Star State

Here is another interesting article from LA Times.

"California's high housing costs drive out poor, middle-income workers"

http://www.latimes.com/business/la-fi-california-m...

Irvine , CA
Thursday, January 07, 2016 

According to a new study of companies leaving California during the last eight years, the state's business climate will worsen because of a multitude of proposed tax hikes and new regulations – measures sufficient to motivate more company departures.

The study by Spectrum Location Solutions is critical of extending the "temporary" taxes in Proposition 30, escalating fuel and motor vehicle taxes, imposing a service tax on routine transactions, raising carbon-related cap-and-trade fees, and threatening to weaken Proposition 13's protections for business property owners.

"California's public officials come across as being uncaring about the damage they inflict on businesses, investors, employees and their families, and to the towns that lose jobs," said Joseph Vranich, the study's author. "With a growing number of California activists demanding higher taxes and more regulations, look for an increase in the number of companies seeking to leave the state."

The conclusions are contained in a report that shows Fortune 500 companies down to small family-owned companies relocating and expanding in out-of-California locations that offer more satisfying business and lifestyle outcomes....

The report ranks the Top 15 California Counties in the order starting with the worst losses, which are: (1) Los Angeles, (2) Orange, (3) Santa Clara, (4) San Francisco, (5) San Diego, (6) Alameda, (7) San Mateo, ( Ventura, (9) Sacramento tied with San Bernardino, (10) Riverside, (11) Contra Costa tied with Santa Barbara, (12) San Joaquin, (13) Stanislaus, (14) Sonoma and (15) Santa Cruz.

The Top 10 States in the order starting with those that gained the most are: (1) Texas, (2) Nevada, (3) Arizona, (4) Colorado, (5) Washington, (6) Oregon, (7) North Carolina, (8) Georgia, (9) Florida and (10) Utah tied with Virginia. Texas was the top destination each year during the eight-year study period.

Does anybody have any information on how to broker EB-5 Investment Immigraton Projects? I am working with a developer who sponsors the EB-5 for overseas  Chinese, Korean, and Indian investors who will invest $500k+ in real estate in the U.S. to qualify for a U.S. Visa.

I had lunch with one of the principals and he told me that the EB-5 investements are governed by the SEC and that I may need to get my security license for clients I bring to him from overseas.   

Don't know much about it, but currently researching it. 

Appreciation Depreciation Chart comparing Los Angeles Index, San Francisco Index, Atlanta Index, and S&P 500

1) Case Shiller Chart for SF, LA, and Atlanta

2) Population Net Inflow for SF, LA, and Atlanta between 2010 - 2014

3) Peak and Trough Date and Peak to current declines

4) Inventory Chart of four cities in Orange County

Bumping this question.

I guess nobody on Bigger Pockets holds both an NMLS license and a Broker/Agent license.  Is there any benefit holding both the RE license and the NMLS license? Are you able to hang your NMLS license under your RE brokerage or would you need start a separate mortgage company?

I know that the question of "Should I get my real estate license" has been asked hundreds of times on Bigger pockets, but I wanted to ask if there would be any benefit for a real estate broker/agent to also hold an NMLS license (Mortgage broker license). In state of California, if you hold your CA broker license, I believe you also get into the lending business in California, but in Georgia, I will need to take new prerequisite courses and take the NMLS state exam.

The reason I am curious about the NMLS license is that I may be interested in getting into the HML/lending game down the road in addition to my SFR rental portfolio for passive income. I am also interested in learning more in depth what goes on behind scenes in real estate financing.

I am curious to know if any real estate brokers/agents on BP also have your NMLS license and if you do, has it been beneficial having your NMLS license for refinancing and originating your personal loans or more of a distraction for you? If you get your NMLS license, are you allowed to hold the license under your RE brokerage or does it have to be a mortgage company?    

Thank you and I apologize if a similar question has been asked before.

Short term, I see a correction in both the bay area and southern california housing market between 2016 - 2019 or 2017 - 2020. 

@J. Martin,

The leading indicators for me for the Atlanta housing market is inventory levels and population growth. The current median home price in Atlanta is $182,100 and median household income is $55,733 making our HI ratio at 3.26.  

Atlanta metro's population net inflow has grown 327,595 between 2010 (5,286,728) to 2014 (5,614,323). I estimate that Atlanta metro net inflow population will to grow to 6,269,513 by 2020 census data. As of end of 2015, we are currently 7.9% below the July 2007 peak. I believe that Atlanta's housing market should be making new highs by next year, surpassing July 2007 levels like Dallas and Denver is doing today.

@J. Martin, I would like to ask you this question. If the bay area corrects by 15% in the next two years, do you also see Atlanta housing market correcting 10-15% or do you see the Atlanta housing market continuing to appreciate 5-6% / year in the next two years? I would love to get your opinion.