All Forum Posts by: Tecsia Evans

Thank you so much Jamie for the recommendation, really appreciate it! 

My husband and I have a property that has a main home and ADU in Oakland, CA where we will be turning into medium term rentals. Any recommendations for great property managers that do medium term rentals for a reasonable fee in our area? Thank you in advance for your help!

Thank you @Sam Hopkins and @Cory Carlson, I appreciate your insight. The property that we are in is our primary residence and so once we do sell it we would need to use some of the return to find or build another home. For @Cory, I am curious how you arrived at the cash on cash number and if there is a rent analyzer you use that you would recommend? Thanks again for your help!

Thanks @Dan H.!

@Brian Garlington Nice to connect with another Oakland investor! Thanks for your input. Based on his last post I believe @Paul Merriwether has been in Oaktown for quite a bit of time. Over the last 20 years I have really seen a transformation in certain neighborhoods in Oakland that were seen to have less value really come up and be booming again. Oakland is definitely a unique place in deed for both buy/hold and selling. For the both of you, how much (percentage) do you recommend putting aside from your rental income to account for things such as repairs, vacancies, etc? The 50% rule of thumb really doesn’t seem to work for this area.

@Paul MooreThank you for your advice and for your ideas of how I could invest my return if I were to sell, much appreciated. @Paul Merriwether Yes I agree Montclair in comparison to other parts in Oakland is very unique in how it’s appreciated over the years.

@Dan H. Thanks for providing the resource for neighborhood scott. I just check and it mentioned that for the last 10 years the average appreciation rate is almost 10%. Oakland is a unique market and the appreciation that occurs here in the Bay Area (at least in the past years) has been higher than many other places. Considering that it’s a brand new home in a high demand market in which we are in, we chose not to use the 50% rule but definitely accounted for other expenses. @Pravalika Gokulakonda Thank you for your suggestion and the idea of using the profit to invest in 2 other properties. I am so appreciative of everyone’s feedback, it has been very helpful and enlightening!

THANK YOU SO MUCH @Paul Merriwether for your insight and thoughtful suggestions. Oakland is such a unique market and the advice we have received from so many is to sell. It’s really refreshing to receive another perspective from a fellow Oakland investor!!! This has been really encouraging and I am pumped to do another deep look at the numbers for rental and gather info about renting in this area.  Thank you again. P.s. just sent over FB friend request.

Thank you @Paul Merriwether for your feedback. The home is valued at $1.6-$1.7 million and there is a $750k mortgage. If we were to rent it, we would receive about $6000 a month total but after mortgage is paid and other related expenses are put aside the return in our pocket would be $2k a month. The home is located in Montclair/Oakland Hills. Based on these details, would it be safe to say that your recommendation would still be to rent it and take advantage of the appreciation?

Thank you @Dan H. for your insight. I appreciate your note about comparing expected return against what return we could get from investing in other RE. Very helpful!