All Forum Posts by: Karen Margrave

In the current market the cost of materials vary considerably by region due to availability. What condition is the garage in? What size is the garage? Will it have a full kitchen and bathroom, or ?  Does it have electrical, good roof, good foundation, slab, good framing, is there any plumbing, are you on sewer or septic?  What is required for permits? You'll probably have to get plans drawn, and submit, so what are the costs of doing that? You may also need energy calcs.  Those are a few of the things you'll need to consider. 

Having your real estate license definitely has value if you're an investor. As mentioned above, the seller is technically the one paying commissions. However; if you are going to make an offer on a property that is listed, the listing agent more than likely won't deal directly with you, unless they're getting both sides of the commission. If you are the agent, that means you get the selling side of the commission, which has real value, and can be used towards down payment, etc. I've used my commissions over the years on many development deals. 

Another advantage of having a license, you can join MLS (which will require you be under a broker) and have access to new listings, etc. However; most MLS searches are online now with realtor.com.

As for the lingo, you don't need your license for that. Taking a real estate principles class may be a good idea as it helps you learn the process. Different states have various processes for escrow, title, who can write offers, etc. 

@Mindy Jensen I posted this meetup on the Event page. Cara is able to see the event information if she opens on her laptop, but not on her phone. 

As a Realtor I would suggest that you hire a Realtor in the area to list the property in "as is" condition, seller will not be doing any repairs. They can get it on MLS, make sure all the legal disclosures are done, and show the property. I would suggest getting a pest inspection, and home inspection that has photos included, then have the agent upload those and note "bids on some items are available". Be sure to put that Buyer to do their own due diligence, including any and all inspections they feel necessary, and that any inspections, reports included on listing are for buyers convenience only and do not guarantee they cover all items needing work nor the price of doing work, etc.

Get a video walk through so that buyers can see condition, types of finishes currently in the house, etc. PRICE ACCORDING TO ACTUAL CONDITION, NOT POTENTIAL. Getting into doing the work beforehand will be time consuming, materials and labor are very tight right now, so ask if it's worth it. 

https://www.biggerpockets.com/...

I'm sorry! Wasn't trying to be a smart A$$  That's Strange. This is an entry on the Events page, where it has all the information. I'll check it out on my phone and see if there's an issue that tech support needs to deal with. 

@Cara Murray when and where are what the post is about!! LOL  It's

October 14th from 5:30-7:00 p.m. 

From the Hearth at 2650 Churn Creek Rd., Redding, CA 96002

Menu link is on the post.(should you want to pre order) Hope to see you there! 

I had never heard of that program, but it sounds great! We've built many spec houses over the years using private money lenders. I'd suggest you do a search online for FHA OTC , here's one I found, maybe it will help you. 

Ashley, the property management companies are where you are going to find the stats for the local areas they work. Any agent can list or sell properties that are currently set up for, or will work for STR. We see homes on our local MLS all the time that are being used for STR, and can be purchased to use as that again, or for SFR. You can also check AirDNA for stats as they have the most comprehensive stats for all areas. Your question is so broad it's very difficult to help you. How much do you have to invest? What are you putting down? What is your experience? Do you want something that is turn key, or are you willing to buy something and get it ready for renting? Will you rent it out full time, or use it part of the year? I'd suggest to try to narrow down the region you're interested in, the type of STR you want to have (there's so many variations, it can be condos, homes, cabins, tiny homes, glamping, houseboats, RVs, etc., they can be specialized for medical professionals, business travelers, large groups, etc.) As to finding agents that know zoning, look at a map at every city in America, that's how many different zoning maps there are, and that's why you need to choose an area, then get details. The devil is in the details! It's an exciting niche, good luck. @Avery Carl book looks like a great source! I've always had an interest in STR considering it for my house, and in fact talked BP into starting the forum years ago, I'm buying her book! 

Hello Redding and Shasta County members! I know the market is challenging right now, but thought it would be fun to get together to discuss the market here in Shasta County, things happening in CA and how they affect us locally, the recent fires and more! Is anyone still investing here or have you given up for now?