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Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
The 2017 SF Bay Real Estate Networking Summit is confirmed for Oct 7 & 8 in Oakland, CA! www.SFBaySummit.com
For the third time, hundreds of real estate investors and experts will be gathering in the San Francisco Bay Area for a weekend of learning, networking, and joining forces to grow our real estate businesses! This is NOT a Bigger Pockets event. But you'll recognize some familiar faces.
Get your ticket (super early bird now!), a tax deduction, and seriously inspired! www.SFBaySummit.com
"An exceedingly well-done conference, especially in terms of venue, speakers, vendors, info presented and opportunities for connection. What I learned and who I met will catapult me years forward in my abilities. Count me in for the next one!" - Erin A., Stockton, CA
Event: SF Bay Real Estate Networking Summit Date: Sat & Sun, Oct 7 & 8, 2017 Location: Oakland, CA @ Oakland Scottish Rite
Get more info & Tickets here.. the earlier, the cheaper! www.sfbaysummit.com
great event.. Bruce Norris was worth the cost of admission. some take aways from his presentation.
1. No major melt down in the near future.
2. mortgage market much stronger for obvious reasons ( no liar loans real world underwriting)
3. markets would need 40% of the inventory on MLS to be foreclsoures to cause a major correction ( this is not happening).
4. He feels cap rates and multi family is the one segment that is frothy and could correct.
5. in a subtle way he was saying when profits avail themselves it can be good to take it off the table.
Whats he doing now... his normal short term lending and he is now building some new construction.. as that is exactly what I do.. I felt like I was personally on the right track as well.. Great presentation.
@J. Martin, very excited for the event and the opportunity to meet other investors!
Haves:
Information :) We just moved from 20-50 unit multi-family properties to our first flagged mid-service hotel this year. Happy to share our experience with this so far including the good and bad we are seeing compared to multifamily.
Property - Cash flowing SFHs in Arizona with great returns.
Wants:
Feedback, ideas and rules around raising private money.
Nice chatting the other day, and good luck on your next step! Kimberly Smith, the CEO of Corporate Housing by Owner will be out to share in a breakout session where you can ask her questions directly, and @Al Williamson is our resident expert on furnished rentals and especially the travel nurse community. You should talk to him too at the Summit (or before). He also has a course that runs down how to get everything setup. And I'm happy to give you some more tips too. @Andrew Wong has also been growing his furnished rental biz.. I'm sure others will also be interested to know how you did so well in San Francisco...
I'll give you a ring to see if you know when you're available during the Summit, so we can work you in to share some advice, if you're up for it.. Thanks for the shout out for our event! Can I quote you on that testimonial? ;) Glad to have you out again from Lake Oswego / Portland area.
Welcome out to my fellow Richmond investors! Your knowledge that comes from living in the area so long is awesome! You'll find lots of experienced investors at the Summit. Lots that have done flips. We'd definitely appreciate your help raising money for our charity, and to get the word out about yours. So sorry to hear what happened to your daughter. @Jeff Pollack does flips and has a great meetup down in San Jose (worth the drive down).
Andrew,
Welcome back out from down in Milpitas!! I'm sure others will be interested in your short term rental experience and out of state experience in Memphis. And there are plenty of landlords. I'll try to think of someone that does elderly care stuff...
Offering up your vacant room for someone to stay for the Summit? (Or is this Airbnb?) Either way, nice of you! My first place was a house-hack 4plex in Richmond, and several others here have done it also. We're also doing a little renting by the room.
Welcome out from Philadelphia! You'll be in good company with @Dave Van Horn and @J Scott coming out from the East Coast. I'm not sure who else is coming from NYC, Baltimore, Washington DC. @Brie Schmidt and @Danny Duran are bringing a group from Chicago. Other speakers and investors are coming from Austin, And @Troy Fisher is coming down with a group from Seattle. So you'll be in good company from the East Coast, Midwest, Northwest, Texas, and folks from SoCal: San Diego, LA. Sacramento, and the SF Bay :)
@Nichole Stohler, Congrats on your hotel deal! And welcome out from Scottsdale! I think we have some Phoenix folks also. I really like the lodging industry, and was hoping to pick something up when ADR's and multiples are a bit lower. That's great you found a property that works. Interested to hear more about it..
@J. Martin I will be there Saturday only... happy to be in some break out session if you wish.. other wise I am excited to meet some of the other folks like J Scott and Will Bernard.. and I always love listening to Bruce Norris presenation..
@J. Martin Yes, I have a vacant room. If you know of anyone that needs a place to stay last minute let me know. Would love to chat about your first house hack and renting by the room soon.
@J. Martin - I am really looking forward to the Forum and excited to get more involved in furnished rentals. Thank you for the introductions and for sharing your insight and experience when we spoke--good stuff!
Al and Andrew - I look forward to meeting you. Meantime, I would love your feedback on a furnished rental option in San Francisco. Please check out this thread: https://www.biggerpockets.com/topics/new?forum_id=...
Thx for that info @j.martin! Just curious- any developers attending who specialize in dedicating a portion of their properties to rent out to non-profit orgs or community use? I'd love to connect! i.e. I know a local developer who uses his multi-unit buildings to house veterans that are transitioning back to a civilian society, with a portion of the rent subsidized by the government. And another local developer who's had a significant impact on the vibe of a neighborhood because over the years because of his focus on being a part of projects that have an immediate and tangible impact on a community. Just looking to connect with developers who have intentionally changed the dynamics of a community through their development- not through new residential construction development but by putting thought behind curating the tenants to fill the needs of a neighborhood. Thx!
I paid J Martin $246 on August 7th to his personal email address linked to his PayPal account for a 2 day ticket to this years SF Summit on October 6th. Unfortunately I recently found out that I have to undergo a surgical procedure during the time of the conference so I am unable to attend as my health is currently at risk. I kindly emailed J Martin over a month before the event (on September 5th) and asked him for a refund due to my unfortunate diagnosis and have yet to hear back from J Martin. I have emailed him several times now and he refuses to even acknowledge my emails!?! I cant imagine that he would not be willing to refund me for the conference (its not like I am cancelling 2-3 weeks beforehand) but he has yet to reply to any of my emails. I find it incredibly UNPROFESSIONAL and quite frankly RUDE that he refuses to reply to any of my emails and am writing to the BP Community now to see if any of you can maybe get through to J Martin on my behalf and ask that he do the right thing and issue me a refund for the networking event that I now am not able to attend due to some serious unforeseen medical conditions. Furthermore if you have already paid him for the event ahead of time, I wish you all the best of luck during the conference
I paid J Martin $246 on August 7th to his personal email address linked to his PayPal account for a 2 day ticket to this years SF Summit on October 6th. Unfortunately I recently found out that I have to undergo a surgical procedure during the time of the conference so I am unable to attend as my health is currently at risk. I kindly emailed J Martin over a month before the event (on September 5th) and asked him for a refund due to my unfortunate diagnosis and have yet to hear back from J Martin. I have emailed him several times now and he refuses to even acknowledge my emails!?! I cant imagine that he would not be willing to refund me for the conference (its not like I am cancelling 2-3 weeks beforehand) but he has yet to reply to any of my emails. I find it incredibly UNPROFESSIONAL and quite frankly RUDE that he refuses to reply to any of my emails and am writing to the BP Community now to see if any of you can maybe get through to J Martin on my behalf and ask that he do the right thing and issue me a refund for the networking event that I now am not able to attend due to some serious unforeseen medical conditions. Furthermore if you have already paid him for the event ahead of time, I wish you all the best of luck during the conference
Glen, I refunded your ticket price due to your medical issue. Paypal says 3-5 days to process. It was 2 days between your first series of emails (beginning Sept 5), and you posting this on BP (Sept 7), while I was vacationing on the San Juan Islands. I didn't see any missed calls or texts from you. I was not refusing to return your emails or trying to be rude or unprofessional. I just don't sit down at a desk every day. Thank you for your patience Glen. I know it can be tough and frustrating to have medical issues pop up, and wish you the best with what you're dealing with.
***ALL OTHER SUMMIT ATTENDEES*** We do our best to answer the [email protected] emails quickly. But shoot me a text and/or give me a call on the number on my profile if anything is extremely urgent and you don't get a reply quickly enough. Everything is on track with the planning to have another awesome event!
I want everyone to have a great time, learn a lot, and especially to GET CONNECTED. If you got a ticket already, you'll be receiving more info about the event, and within a couple weeks, a link to our networking app, so you can get even better connected before, during, and after the event. We have over 200 (and growing) excited investors already coming out, so welcome out to the 3rd SF Bay Summit!
I'll pencil you in for a breakout session on Saturday afternoon, and maybe we can see what topics are of most interest to the attendees that isn't covered yet (since you've done pretty much everything!). I'm sure J and Will are going to be stoked to meet you too. And you'll be able to see Bruce on Saturday also.
@Bac Nguyen, Happy to help. Glad Jay can make it too! He's invaluable.
Thanks for offering up a room! Very generous of you :)
@Ethan Cooke, Glad you're excited too! I responded on your furnished rental thread, and saw Andrew and @Ariel Smith jump in. She honestly probably knows the most about what demand looks like in the area. So take that into consideration.
@Al Williamson, an investor sharing at our event has a very intentional way he combines Airbnb to provide affordable housing in some of his units, and most developers in the SF Bay Area include at least some portion of affordable housing in their new projects (partially, as required by law.) So most developers out here that are coming will have at least some experience with it :)
Just registered for both days! This will be the first time I'm attending but super excited to learn and network with people locally and nationally. Currently have SFH's in Stockton, CA and looking to 1031 some of them in 2018 into better cash flowing OOS markets (currently zeroing in at OH & IN). My focus is SFH investing; attendance goals include networking with fellow investors & various business providers, vetting/improving my RE business plan, looking for tools to help my RE business, and continuing my education. Really excited to have such a great event offered locally.
I'll pencil you in for a breakout session on Saturday afternoon, and maybe we can see what topics are of most interest to the attendees that isn't covered yet (since you've done pretty much everything!). I'm sure J and Will are going to be stoked to meet you too. And you'll be able to see Bruce on Saturday also.
Yep, very excited to meet several of you whom we havevonly had great discussions with by online format and jotbin person. As for Bruce Norris, guess I'm spoiled as I get to see him speak several times per year including the I Survived Event coming up.
Look forward to networking with everybody and providing what I hope to be an educational session on rehabs/developments.
I got your message, and will try to get ahold of you today.
@Metra Ulloa Welcome out for your first Summit! @Bill Exeter is the 1031 exchange pro coming out to the Summit, so be sure to connect with him. @Andrew Fingado is still looking at Stockton to buy I think, so connect with him. Might be able to provide you more flexible timing on the sale if his investment criteria matches what you're selling. You'll pick up lots of tips on operating your business, connecting with service providers, and of course investors from around the San Francisco Bay Area and around the country.
Gilroy isn't too far from Santa Cruz. Have you been to @Shane Pearlman's meetup? (in Capitola I believe?)
@Johnson H. also has a great meetup in Milpitas. And @Jeff Pollack also has a great meetup in San Jose. I used to drive all the way down from Richmond and Oakland to attend these, and do business with people I've met down there.
@Will Barnard, Looking forward to seeing you with Bruce at "I Survived Real Estate," and of course even more so about the Summit! Are you taking some time to relax or go on vacation while the market's a little hotter Will? Or does the money burn a hole in your pocket and keep you aggressive? Bruce has been talking about "Quadrant IV"/late cycle investing. But part of the reason I decided to travel so much is it's too much effort for the risk on a lot of deals right now. Am I just lazy? Where's your next trip?
Have not taken any vacations in awhile, I have been working non stop taking advantage of my niche I have here in this hot market. I will rake a break soon though for vacation but right back at it again.
I won't give away all the details here, people can hear it first hand at the summit from me.
@Brian Burke No one can find deals any more, but you're still out there finding and funding them on a regular basis.
A lot of it is hard work and determination. But people get discouraged. Do you mind sharing about how many properties you have to look at, and how many offers/negotiations you get in, for each deal that you close?
What type of characteristics are you looking for in cities that you invest in? Does affordability of rents/prices for the local population play a roll? (The San Francisco Bay seems to have limited upside on the affordability side, so that's always in the back of my mind...)
@Keong Kam Glad you're as excited as I am! Lots of great folks coming out to share :)
First preference to my Summit folks! But invite a friend if you know someone in the area. Tag me or call to get confirmed. Great speakers, and raising lots of money for charity.
First come, first serve. Especially if you're in Yorba Linda, Costa Mesa, Newport Beach, Anaheim, Orange, Santa Ana, Irvine, Huntington Beach, Corona, or Riverside, hit me up!
@Brian Burke No one can find deals any more, but you're still out there finding and funding them on a regular basis.
A lot of it is hard work and determination. But people get discouraged. Do you mind sharing about how many properties you have to look at, and how many offers/negotiations you get in, for each deal that you close?
What type of characteristics are you looking for in cities that you invest in? Does affordability of rents/prices for the local population play a roll? (The San Francisco Bay seems to have limited upside on the affordability side, so that's always in the back of my mind...)
@J. Martin, yes it's tough to find properties worth buying nowadays. Hard work and determination is a big part of it. In fact, I have five people plus me working full-time just to find deal flow. On average we look at and underwrite 100 properties to make offers on ten, to buy one. That average has held up over 25 years. Even in the heat of the foreclosure crisis we were buying over 100 houses a year, but we were looking at 200 houses a week (maybe more).
Now our main focus is acquiring large Multifamily properties. The tried-and-true 100/10/1 ratio still holds true but now we buy one property for 100 times the price as compared to houses.
I think the SF Bay Area trade is over. We bought 120 houses at the very bottom of the market -- 2011, and now we are selling. Best real estate trade ever and I don't expect to see that opportunity again in my lifetime.
Now I'm not looking for a trade, I'm looking for value and upside. Value comes from buying right which is a by-product of old-fashioned shoe leather and elbow grease coupled with sophisticated financial analysis. Upside comes from swimming with the current--buy in markets where there is job and income growth coupled with a favorable ratio of income to housing costs.
Looking forward to seeing everyone at the Summit. Rumor has it I'll be speaking Sunday at 2:00PM, just I time for everyone's after-lunch nap. I'll do my best to help y'all fight off the Z's.
A couple of us are arriving in Oakland Thursday and doing San Francisco - we are planning a day trip to Napa Friday before the conference. We are planning on leaving around 8:30 am and will be back for the networking event that night. If you interested in joining us please let me know by Monday 9/25
@Brian Burke No one can find deals any more, but you're still out there finding and funding them on a regular basis.
A lot of it is hard work and determination. But people get discouraged. Do you mind sharing about how many properties you have to look at, and how many offers/negotiations you get in, for each deal that you close?
What type of characteristics are you looking for in cities that you invest in? Does affordability of rents/prices for the local population play a roll? (The San Francisco Bay seems to have limited upside on the affordability side, so that's always in the back of my mind...)
@J. Martin, yes it's tough to find properties worth buying nowadays. Hard work and determination is a big part of it. In fact, I have five people plus me working full-time just to find deal flow. On average we look at and underwrite 100 properties to make offers on ten, to buy one. That average has held up over 25 years. Even in the heat of the foreclosure crisis we were buying over 100 houses a year, but we were looking at 200 houses a week (maybe more).
Now our main focus is acquiring large Multifamily properties. The tried-and-true 100/10/1 ratio still holds true but now we buy one property for 100 times the price as compared to houses.
I think the SF Bay Area trade is over. We bought 120 houses at the very bottom of the market -- 2011, and now we are selling. Best real estate trade ever and I don't expect to see that opportunity again in my lifetime.
Now I'm not looking for a trade, I'm looking for value and upside. Value comes from buying right which is a by-product of old-fashioned shoe leather and elbow grease coupled with sophisticated financial analysis. Upside comes from swimming with the current--buy in markets where there is job and income growth coupled with a favorable ratio of income to housing costs.
Looking forward to seeing everyone at the Summit. Rumor has it I'll be speaking Sunday at 2:00PM, just I time for everyone's after-lunch nap. I'll do my best to help y'all fight off the Z's.
You mean there's not 1 secret tip that let all investors find the best deals easily!?! lol
Good ol fashioned pounding the pavement, analyzing many, submitting offers, and negotiating the few that can be closed on. Whether that be in Oakland, Atlanta, or elsewhere. I think it's a great lesson for anyone starting out - or jumping up to the larger multifamily. They can learn the techniques, analysis, and strategies that you're utilizing. But without hard work, it's not just going to fall into their lap.
I appreciate that you're putting your money where your mouth is on the end of the "San Francisco Bay Area trade." Like you said, you bought them because they were cheap, for a specific purpose. And now that purpose and relative values have changed. I recently did a Facebook live post from the first property I bought out in Richmond, and have been thinking about selling or exchanging it recently. Will be on my mind for a while I have a feeling.. One in Oakland I've been thinking about also, because it's value is basically maxed out..
@Will Barnard, Do you end up around the same ratios on analyzing, offering, and closing on flip deals? 100 looked at, 10 offered, and 1 closed? Just curious how similar the "guideline" might hold up in MF vs flipping, especially in totally different markets. A reminder that deals don't fall in your lap. They get CREATED, right?
I will share this story and many more at this great event. Most importantly, what I am doing now, how, and why! We are at the final stretch people, get your tickets and come network with us.
No, I haven't heard of the Santa Cruz meetup. I've wanted to attend the one in Los Gatos, it's geared towards OOS investments which is going to be my focus. I'll definatly check out the one @Jeff Pollack runs in SJ since that is close to where I live.
My hotel is booked, looking forward to meeting so many people!
