All Forum Posts by: Karen Margrave

@Bruce Woodruff I agree with most of Scott's points. However, all real estate is local. My local market is becoming stagnant. Interest rates have stopped sellers from listing, making it difficult for the buyers (and there are buyers). Building costs and red tape in CA make new construction, which is sorely needed, unreasonable. Rents are high. The cost of living (food, energy, fuel are ridiculous) add to that the difficulty finding insurance, and it's a mess.

Then, what's going to happen with China? If their economy falters, it's all bets off. Oh, and now the talk of mask mandates, new vaccines, and an election season. There's no telling what lies ahead. Sit down, buckle up, and hold on! 

@Ismail Sogbaike In northern CA, title and escrow are usually handled by one company. It's customary for both parties to split. It's paid at closing. When escrow is opened and title insurance is ordered, which triggers a preliminary title report showing liens and encumbrances. You'll need to determine the process where you are.

@Kevin Sindorf I've sold properties to BP members, and all have been due to them reading my posts, or coming to a meet-up.

I've read posts others about buying leads from BP; and it doesn't seem they're high quality leads of hot prospects, but lookieloos.

Joe, I was just talking to someone the other day down in So Cal, that was asking about the Meetup I had started in Lake Forest. I told them you took it over when I moved, and I thought it was still going, but wasn't sure of where. I'm glad to see you're still doing it! Are you still working as a broker too? 

Contractors are extremely busy, and need to be able to access jobs when they have the time. If something changes in their schedules, they can move up or push out a job. Communication is key. Talk to the contractor and set a schedule, and tell him about your changes. Your changes could mean him having to rework his schedule on not only your job, but others. It might cost you extra. 

@Eric Yu I just wanted to check in and see how everyone's doing. The markets still tight, but people are still buying. Are you still looking for a STR?

The City has outlined what the new rules are going to be. Message me if you're interested.

Thanks! I have address, just finding a current phone number can be a challenge. 

Potential Short Term Rental - Redding, CA   This home is oozing with old world charm. Redding, CA , located in the REAL northern CA; with some of Americas most notable lakes, water falls, rivers, caverns, climbing, hiking and biking!  Plus there's 2 Volcanos. This home is close to the Downtown area, with restaurants, pubs, entertainment, etc.; and in the hub of the city, enabling visitors to go in any direction. 

Great opportunity! Currently in the process of being permitted as a STR, or rental for traveling nurses and medical professionals. New buyer can finish the process, and save paying 2x. Detached garage in back should be able to be converted to an ADU for additional space. Current owner rents as vacation rental, but hasn't finished the process of permitting. She uses for family and friends quite often.

Call or text me about this opportunity. 

Karen Margrave

530-782-1800

American Real Estate, DRE#008848454. 

Redding, Shasta County, Lake Shasta, Sacramento River, Sundial Bridge, Turtle Bay, Whiskeytown, Mt. Lassen, Mt. Shasta, Shasta Lake, Shasta Caverns, Castle Crags, 

I usually use Realist to get property owner information, as it's part of my MLS. I often use Spokeo to track phone numbers of owners. However; it's not the most reliable, and sometimes I go through several relatives listed to FINALLY get phone number.

What service do you use to find phone numbers of owners that live in property, or are absentee? 

I do! When the market crashed in 08, my adult kids, myself and my husband all relocated from Redding, CA to southern CA. We were 2 General contractors, electrical contractor, a broker, an agent, and a hair stylist. We didn't know anything about that market. In my quest to get up to speed, and learn what the demand was, where to invest, etc. I found Biggerpockets. Though I didn't learn a lot about the local market, I began answering questions on the forums regarding construction, spec building, land development, real estate, etc. and was eventually asked to moderate. 

By being on the forums consistently, providing information that highlighted our experience, etc. there were investors that contacted us wanting in on projects. However; never having had partners, we declined most, as they didn't have the experience and understand the risks involved on spec building. 

We did however; there was a parcel of land in San Clemente, a block from the ocean we found. At the time we had our money tied up on a spec house. A BP member, purchased the lot, subordinated to a construction loan, and then we got the funding from another BP member that was a lender to do the construction on a duplex on the lot. When the duplex sold, both lenders were paid off, and we made a profit. We did other projects in so cal too, but there weren't BP members involved.

After my husband passed away and my son and I moved to Oregon, a BP member partnered with us on a remodel on a manufactured home in a recreation area. We bought it for like 70k, gutted it, put 60k into it I think, and sold for $224k. 

I've sold several houses to BP members in the Redding area. I've tried getting a meetup for Redding going, as I've done them in so cal, and in Bend, OR, but Redding just never took off, and I think it's more the market is just to expensive and too few opportunities to find fixers, etc. than anything. 

Advice:  Participate in the forums. Be consistent (which I haven't been lately) and you'll find what you're looking for. Be realistic about what your strengths and weaknesses are. Shore up where you're weak. Money is based on risk vs reward. If you have a good deal, and the ability to perform, you'll find money. If you have money, but don't know the ins and outs of doing the work, find someone with experience that does. Check references. Licenses, etc.  You can see the houses we did in so cal here. I'm just doing real estate sales now.