All Forum Posts by: Karen Margrave

@Jasraj Singh I'm a realtor in Redding, CA. We are the real northern CA. The natural beauty around us is unimaginable, with Lake Shasta, Shasta Caverns, Mt. Lassen and Shasta, Whiskeytown Lake, the Sacramento River runs through town, and we have the world renowned Sundial Bridge.  I've been in this business for many years, having developed, built, bought and sold properties. Most of that time has been in Redding. However; 10 years was in Orange County, CA. All of CA is expensive for a variety of reason. With that said, there are still people moving here. In Redding/Shasta County we have an extremely high demand for homes up to 400k with many getting multiple offers. Rental units are the same. We had massive fires in northern CA in the past few years, destroying thousands of homes. Add to that the Covid virus, and people rethinking living in larger cities. We are getting people moving here from L.A. and S.F. bay area, as well as other place. Bethel School of Supernatural Ministry draws students from around the globe. They have approximately 3000 students, but no dorms, so they rent room space. 

Multi unit properties rarely come on the market. There is land available for larger complex, one that actually has plans, etc. ready. If you'd like to know more about this area, I'd be happy to answer any questions. 

@Tim Roeschlaub @Cara Murray @Conner Bridwell @Matt Christensen @Joshua Cruz @Christopher Deforest @Jesse Eberle @Paul Fagot @Danny G. @Benjamin Goodpasture @Kyle Jones @Taylor Knott @Chris Low @Jordan Michaud @Tiffany Reguera @Vincent Rodriguez @Tim Roeschlaub @Zach Wain @Ramon DeLeon

Hi everyone! It's been awhile. I was thinking about starting a meetup soon.  What does everyone think? Is anyone actively investing right now in the Redding market? Please leave comments. 

OOh... this can be fun for me!! Where in Capo Beach? We did a spec new home on Paseo Pinzon in Capo Beach. I would have loved to have found a rehab. If you'll post some pics, I'd be happy to give you ideas. 

From what I see he may owe you 1 day. However; you don't show what state you're in, so we don't know the laws. How long had he lived in the unit before the notice? 

I had planned on selling the house we had remodeled in Sunriver, OR. Sunriver homes are mostly owned by people that use as STR / LTR mix, with owners using them for themselves a few times a year. We had it leased for the winter (the LTR portion of the mix) and planned to switch to STR and sell. However; due to the virus Sunriver Owners Association put a hold on STR for the season. Rather than risk it, we switched gears and have decided to lease it for another year, allowing someone to buy and then start up as STR next year, or move in. I leased it for $2500 per month through May 2021. I actually had several interested parties. I think there are a lot of people wanting to move into places that are a little more rural, fresh air, lots of recreation, rivers, lakes, etc. and get away from the hustle and bustle. Our Redding market is seeing that too.

For those unfamiliar with Sunriver, it's just about 20 minutes south of Bend Oregon. Redding, CA is 2.5 hrs. north of Sacramento. Both areas are drawing people from the larger cities of CA and OR. 

So you have no bathroom? You definitely need to find someone that works on behalf of tenants. Portland is a large city, and I"m sure there's housing advocates there, or legal aid. Contact them. Your landlord probably will have to pay for you to stay in a hotel or ?

 Some landlords can be so cheap. My grandson rented a house from a BILLIONAIRE. The  house was located on his ranch. It was located along a river. There was a huge winter storm and it flooded. My grandson and his family had to use a boat to get out because the road was covered. My grandson was off work for the winter, with a broken back from a wildfire he had worked as a firefighter during the fire season. Did the BILLIONAIRE pay for their hotel room? Nope. Not a dime. It worked out, my grandson ended up buying a house. 

Educate yourself better on your market. Look at what's on the market. Go to open houses, get flyers and learn what is being offered for sale. What age is the house?  What is the size? What are the cabinets, all wood, composite, IKEA, stock ? What is the flooring? Is it hardwood, tile, laminate, vinyl, carpet, tile or ?  Counter tops? Look at appliances, new, old ? Roof ? Does it need paint or is it in good shape. LEARN YOUR MARKET, neighborhoods, etc. Look on realtor websites and watch their listings that are selling. What is selling fast, and what's staying on the market? 

The point is, learn to compare apples to apples. Start coming up with a ballpark number for price per square foot for low - and mid range. As others have mentioned, be happy your deals got shot down if you were going to be over paying. Good luck

I have a different perspective. As a builder/developer every property that we developed was found by cold calling. Even when we moved to so cal and were new to the area, and every contractor in town was looking for vacant lots, I found 3, and they were great lots, with ocean views, in good areas.  People get enormous amounts of junk mail. Do you read it? I don't. It goes from the mailbox to the trash, never makes it through my door. Just be friendly. Say I noticed you own the house at .... street, do you mind my asking what your plans for the property are? Get into a conversation. Don't be someone trying to hustle their property. Then even if they say no, drop them a personal note, say thank you for taking the time to talk to you. If it's a cell number, text and say thank you and if you ever change your mind, please contact you. 

You lost me. If a seller does owner financing the title transfers to you as with any other mortgage, they can't decide to take it back later, nor would any of their judgments attach to the property. If you can't get conventional financing you need to find private money, HML or partner with someone better positioned where you are weak. Lenders are looking at risk, and the quality of a deal. The good news is, so cal has great appeal to lenders because it's one of the most solid markets in the country. Risk is mitigated through the deal, and what the borrower brings to the table as far as investment, experience, knowledge. Shore up what's weak.

How many deals have you done in your lifetime? How much money have you borrowed and paid back? Ask yourself why should a lender trust you with their money? I have 30 years experience. In those years we've always done new construction. I ended up venturing out into a remodel in Sunriver. It came out beautifully. However; it took longer than expected as it had problems that weren't visible. It cost more than anticipated, and it didn't sell as the season is so short there, so I leased it for the winter thinking I'd put back on the market this Spring. Then... Covid 19. No STR allowed for this season. Luckily I'm able to lease it out for $2500 mo. on LTR until next year. Rather than marketing to a STR buyer wanting to do STR this year, I'll look for an investor wanting to buy a STR property and willing to position it for next years market. Actually mixing both STR and LTR is the best formula for Sunriver. The point being, sometimes things don't work out, and your lenders need to know you will stick it out and do what needs to be done to protect them.

There are lenders that will loan on projects with what you have to work with as far as money. 

I know that here in Redding, CA it's still a sellers market. There are multiple offers on homes. My house that isn't even listed and is close to 1 million mark had someone calling me today to see if I want to sell!  It's perspective. It's also area specific. If you're looking for articles to bolster the sky is falling, you'll find them.... but why? There's always going to be areas that are expanding and others contracting. Why not try to look for the good things happening around us ? Despite the challenges people in real estate and construction are pushing forward and meeting the needs, and small businesses are beginning to rebel and open back up!! People are chomping at the bit to get back out and live! WE ARE AMERICA PEOPLE .... WE HAVE THIS!! NOW... GO BUY SOME STUFF - BUT DON'T HOARDE!! Support your local businesses. Buy American when possible.