All Forum Posts by: Anne Chiramberro

@Elizabeth Colegrove I'm impressed you're managing properties from across the country! I'd be curious to hear more about that. How has it been working out? Any nightmares?

Thank you for all of your advice. I've been pre approved for a mortgage and am working with a local agent in Chico to find a property. Guess it's time to start interviewing property managers! I'll think about managing it myself from afar, but as a newbie investor I'm hesitant to try it. 

My agent recommended I find a property manager in town and do a very limited contract with them with a max dollar amount of how much they can spend on "emergency repairs" without consulting me first. Sounds a little like what @Account Closed is talking about.

Lots to think about! Thank you!

Hello, wise people of Bigger Pockets!

I'm looking to buy a small multi-family in Chico, CA, which is a three hour drive from my place. I plan on getting a property manager for my future investment, so I'm wondering when I should start looking into that. Would you recommend I start interviewing property managers early in the process (e.g. now, before I've even offered on a place) or later down the line? Thanks for your guidance!

Welcome, @Samir S.! Please keep us updated in the forums on your investment activity. I'm very curious to see how you find the Livermore and Sacramento markets. I think where you're living would be a good place to start investing, if you can afford it. I worry the Sacramento market is saturated. At least judging off of Craigslist ads, it seems like everyone in Sacramento is offering discounts on rents and security deposits to try to entice tenants.

I'm a newbie in the Bay Area too, so take my opinion with a grain of salt. Do your own research and keep us updated. Best of luck!

The rental market in San Francisco is a little ridiculous right now. It seems like every week the media is reporting on evictions, tenant/landlord disputes, and competition for housing. 

Last week a woman posted on Facebook a letter her landlord sent her, stating her rent was being raised from $2,145 a month to $8,900 and that her security deposit would now be $12,500 A MONTH. All of this to force her to move rather than go through an eviction process. And as of right now, it seems like all of this is legal because of San Francisco's inconsistent rent control ordinance.

You can read the article here: http://blog.sfgate.com/ontheblock/2015/03/16/san-f...

As a human being who can empathize with others, I balk at this way of doing business. As someone who might rent out her primary residence (SF condo) in the future, I can see why the landlord went this route. I worry I might have to do the same if I ever want to regain control of my condo after renting it out for a period of time.

What do you guys think about this? Would you or have you ever raised your rent an exorbitant amount to force a tenant to move? Is this move unfair landlording or just a sign of bad municipal housing policies?

@Craig Wilcox I'm struggling with this one right now as a recent college graduate. I know in theory that following your passions leads to success, but it's hard applying that in your own life when the future looks so uncertain. Taking that job is the safest bet, but it may not be the best one. I'm still working on developing a rich person's mentality. 

Hi, @Jeff L.

I'm a newbie too so but I just got pre-approved for a loan on a small multifamily. I went through several banks and credit unions before finding a bank with a decent interest rate and matching their pre-approval qualifications. My pre-approval letter states it expires in six months if I don't close on a property before then. Maybe other banks have different timelines, but it definitely comes with an expiration date. I don't think re-applying would be too hard though if you don't find a property in time. It just means re-submitting the paperwork.

Hi, neighbor! I'm a newbie in San Francisco looking to invest outside the Bay Area too. Prices here are ridiculous, aren't they?? Good luck to you!

Happy Friday, everyone!

I just got pre-approved for my first loan to buy my first investment property! So of course the first place I come to is the BiggerPockets forums... I'm looking to buy a small multi-family in Chico, California. 

Does anyone have any realtor recommendations for that area? I'm looking for someone who's worked with investors, or preferably is an investor themselves.

Thank you!!

Hey, Carlos. Welcome to the site! Out of curiosity, where have you been investing? Do you stick to the East Bay?