All Forum Posts by: Account Closed

@Jessica Jones welcome to BP. Nothing is seamless being a landlord here in California, especially the Bay Area. Even more so dealing with the Housing Authorities. 

I’ve never seen FMRs decrease but I’ve only been an Oakland landlord for 6 years. I’ve noticed that there are much fewer 3bed voucher holders than 2beds and 1beds. I can assume there are not many holders of 4-6 either but also there is probably not many units either. Demand could be low but so could supply. 

My experience with OHA has been so-so. It’s typical gov’t red tape but the guarantee is well worth it. If you end up buying in Oakland, I can give you some pointers in dealing with them. 

With your price point I recommend Richmond. There isn’t much here in Oakland under $400K. But rents are higher here so keep that in mind. 

here in CA a lot of people are turned off by termites. I know because I initially was too. Now there's a lot of opportunity buying properties with termite issues - less buyers to compete!

You really need to get pre-approved with a lender so you can map out your options. @Chris Mason is a local lender and has helped me and many friends countless times. He can easily show you what you’d qualify for and arm you with a legit pre-approval letter you can use when making offers. 

Until you get pre-approved you will not know what kind of home/building you can afford. And realtors will not take your offers seriously if they aren’t certain you can close on time. 

The Oakland City Council is nuts. From advocating the homeless moms to illegally occupy property they did not own to now banning background checks. The mayor runs a sham charity that pads their bottom line by instituting insane parcel taxes. 

Fortunately this new law will not apply to our business as we only accept Section 8 vouchers. 

@Judge Singh 100% you should go to the Summit. I’ve expanded my network exponentially as well as learned topics I’d never thought I’d be interested in. I’ve gone 3 times and will continue to go. 

Honestly @J. Martin should be charging $1000 for this event for the tremendous value it provides. 

@Grant Cardone

Uncle G droppin dimes! Great advice above. Although I do like the small multis. Not much competition. I will eventually buy bigger

 Those quotes sound pretty typical: $200-350/ft depending on finishes. If you’re able to GC the job, you can likely bring it down to around $100-125/ft or a tad bit above that.

I’m currently researching options as well, since we can now build ADUs on multi family in Oakland. I have a good network of subs so I think I’ll be able to build a 600 sq ft unit at around $100K including permits, utilities, plans. We shall see. 

Add in the City Council which had several “members” helping these ladies move in. The govt’t here is a joke 

Loving this thread, and thanks for the advice. I’ve been taking my daughter to King’s Beach and/or Incline Village the last few winters whenever there’s a nice snow storm. 

I’ve considered buying a small condo in King’s Beach but never thought to look in Truckee. 

@Anthony Dooley fortunately Modesto and Stanislaus counties are not representative of the entire state of CA, which by the way has 40M people, 12M housing units, and is the 5th largest economy in the world. It is not one market. It is comprised of hundreds of sub markets that all act differently.

I’m sure you can agree Colombus, GA and Atlanta are two different markets and offer different ways to profit. It’s the same over here. 

There are several of us Bay Area investors regularly earning 30%+ annually, and I’m not talking about market appreciation.