All Forum Posts by: Karen Margrave

I just ran across this post again and was curious what you ended up doing, and how it all turned out? 

It's great for contractors. There's too many people flying under the radar and having work done by people professing to be contractors, that aren't. Though it may seem to save them money, many homeowners end up with shoddy work being done that isn't to code, and end up paying a fortune to get it corrected.  Homeowners are going to be required now to actually verify licenses, which isn't hard at all to do. 

Sellers need to understand, Buyers are requiring home and pest inspections. They, and their agents, oftentimes go online to check and see what permits were pulled, and work done. If a seller says a home has a new roof, deck, addition, etc. and want to get credit for the value add, but there's no permit to back up the claim, forget it. Also, as licensed agents, if a home has work that wasn't permitted, we are required to tell the buyers, that should they purchase the home without permits, and the City or County finds out about it, they can make them remove any additions, etc. If it was done to code and not permitted, they also could just say to submit plans, pay fees, and have inspections. However; there's no guarantee that's the option that they will do. 

I'm not sure if you're still interested in the deal you posted, but thought I'd weigh in. Deals are about balancing the Risk and Reward for investors. To put deals together you need money, experience, and knowledge of the area. Ask yourself, what is it that you bring to the table of those? Do you have money to put into the deal?  Over the years I've been involved in spec building projects of houses, small office parks, office/retail condos, etc. Aside from seeing a parcel and knowing a great project could be built on it, it's necessary to be able to show precisely what can be built, how much it will cost, and have real numbers, based on actual bids to back up your projections. 

Experience has more quantifiable value. Curious, why did you choose Architecture or General Contractor? 

As a moderator on BP for years, though I've been away for awhile, I've answered this question many times in one form or another. Ask yourself, what are you good at? What are your strengths? What is your experience in anything related to real estate, construction, development, etc.?  Developers are the ones that pull all the pieces together on a project, but even that's not set in stone. A developer can work with an end user on a project they want done, find agents to locate the land with proper zoning, location, etc. to support the type of project. Find architects or designers, engineers of all types, general contractor, etc. to design the project, and know how to keep the design where it's functional, cost effective, but has appeal. There's so many pieces to the puzzle. Developers can also do their own projects, and sub out all the different trades, etc. 

There are also a variety of skills that contribute to the development of a project. Sales, marketing, legal, etc. ALL of these things have value on a project.  Every state has different requirements, depending on the type of jobs. Some states you can do an open book test to be a contractor or a developer. Other states you have to be licensed for residential, but not commercial. 

What are your goals? What type of project would you like to develop? It may be working for another developer would have the most value, or a GC, Project Manager, etc.

Jason Jones and Zach Bowman. It doesn't appear there's anyone that's seen the Meetup post (I had a hard time finding it knowing exactly what it says)  I will need to figure out a better way to get info out. If you'd still like to get to get together and talk shop, I'm in. Call or text me, otherwise I'll tag you when I come up with plan B. 

How many BP investors from the Redding, Shasta County area are there?  I know the market is challenging, but there are opportunities that come up; and I'm curious how many are still in the business, or watching it? What is your niche? Room rentals, short term, long term, Buy/hold, flip, etc.? Are you finding properties? Is anyone building new construction? 

I'd like to start a Redding, Shasta County meetup if there's enough interest, and have posted a date.  I know BP search isn't very effective in pulling up and listing by date, so I'll try a general post. The link to the meetup is here. 

I used to build spec new construction in CA. However; with all the regulations, permitting time and fees, materials costs due to high fuel prices, taxes, coupled with workman's comp insurance, etc. , the high insurance for homes, etc., it's no longer possible. 

I'm focusing on real estate now, but there again, with the high costs of everything in CA, along with interest rates, the market where I am is extremely challenging. There's so much demand, but little availability of properties to sell. We have had major wild fires, which destroyed thousands of homes. Add to that the pressure put on our housing by the Covid refugees relocating here, and now those fleeing larger cities for smaller ones due to crime. We also have a local ministry school that draws a few thousand students of various ages, from around the world; and no dorms, so investors have bought up much of the housing for renting room space, in addition to the airbnb properties! It's DEMANDNG to say the least. We are tapped out for housing, with no hope of building new supply anytime soon. The ADU regulations don't help, as it's too expensive to build

The political policies in CA and elsewhere do have a direct impact on housing, affecting prices, landlords ability to remove tenants, etc. People used to threaten to sell their places and move out of CA, but now, every day we have clients doing just that! 

Let's do this! Bring your questions, haves, wants, etc.  It's time for a BP / Real Estate Investors Meetup in Redding, CA !! Come talk about the market. With YEARS of experience in the Redding market, as a Realtor, Contractor, and a RE Developer, I KNOW this market, and what drives it, etc. What niches are doing good right now? I've been through the ups and downs. We have one of the hottest markets, with some of the highest appreciation predicted in the country. Why?  Let's discuss it, and look where the opportunities are. What are your questions? Loans? Properties? Property management?  Insurance?  Zoning?  Contractors? Partners? WHAT'S ON YOUR MINDS? We will have some of the best and brightest in the local market coming as guest speakers once I know your investment priorities, challenges, etc.

Whether you're a seasoned investor, or looking for information to decide if real estate is for you, this is where you want to come and seek out answers. LOCATION: Will be determined once it's closer. PLEASE LET ME KNOW IF YOU WILL BE COMING.  Call or text me with any questions! 

Everyone in Shasta County area Redding, Anderson, Cottonwood, Palo Cedro, Shasta Lake, Weaverville, Lewiston, Red Bluff, Shingletown, Whitmore, etc. are invited to attend.  Tehama County