All Forum Posts by: David Gotsill

@Tommy Hoang, @Houston Garcia thanks so much for the great overview.  I can't wait to head over there and check out some neighborhoods.  @Brandon H. & @Charmian Wong - I'll definitely look at the Richmond and Sunset districts as well.

This may be a naive question, but will safety levels vary greatly between these neighborhoods?  Does it vary greatly between streets within the neighborhoods?

I won't make it to SF in time for the fall school year, and will end up having to enroll my kids mid-term.  I understand that the elementary schools are on a lottery system.  Does this mean that there's a good chance my daughters won't go to the nearest school?  Generally choosing an area by school would be one of our top priorities.  I had my eye on Clarendon elementary, but if living nearby doesn't guarantee enrollment... Tommy - I'll reach out to you separately with some school questions, thanks so much for the offer.

Hi All - I may soon be relocating from overseas to the San Francisco area.  I'm totally new to the area and looking for information.

1. What areas to target for an initial search for residence (renting)?  I'll need to juggle my commute (office is located near Howard &  1st), housing expenses and living environment, including two kids in public elementary/middle schools.
2. Do people typically use leasing agents in SF?  If so, any recommendations would be appreciated.
3. In the next year or so, I'll probably look to purchase a residence.  Any recommendations for agents in this capacity are also very much appreciated.

Super excited to start something new, and thanks in advance!

Hey @Cory Ballantyne - from a fellow expat in Japan, welcome to BP.  If you're out West near @Daniel Mills, I hope you haven't been too seriously effected by the recent quake and rains.  

Some thoughts, many of which have been covered above: first, what @Nick Mulligan said should form a substantial part of what you do, no matter what you do.  The more you can learn and the more people you can create a connection with the better your options will be moving forward.  You can't try things you aren't even aware of. 

Second, I would generally stay away from investments here in Japan, unless you're looking at purchasing an entire building.  I'd be happy to speak about this more, but in most cases, for most Americans, you're more likely to find a solid deal in the US than you are here in Japan.  

I think that leaves you looking at long-distance investing, which is completely doable.  The book has already been recommended above, and that's a great place to learn more.  Some investors are strongly opposed to long-distance investing, but just as many people make it the primary strategy for their investments.  Also, given your capital available now, it's likely you'd be better served by partnering up, at least initially.  Efforts to learn and network now can lead to natural partnerships, so don't stress about that at first.  Just put the word out to people you are in contact with that you're looking to do a deal.  Your existing network, including Dan and this forum, can help you quickly vet any potential deal to at least ensure that it's not completely idiotic on its face.  Having that resource is invaluable.  

If you're ever up in Tokyo and would like to talk real estate, please feel free to drop me a line.  

Hey @Patrick Nguyen - unfortunately, I don't think I've ever been to that fine state except en route to DC.  

If Tokyo is too far, we can chat over the phone.  If you'd like to speak on the phone, IM and I can give you my contact information.  

Hello @Patrick Nguyen - welcome to BP. If you're still in Japan and in the Tokyo area, I'd be happy to meet up and talk REI. I'm in central Tokyo and would love to grab coffee or lunch.

You might also consider joining our monthly BP meetup, the 3rd Thursday of each month (next one is July 19), in Roppongi, Tokyo.  Attendance varies, but always a great source of information and a chance to network.  

Re-reading this thread I realized it's not very easy to find out about the upcoming meetups.  FWIW, the next meetup in Tokyo, Japan is June 21. Details below:

https://www.meetup.com/BiggerPockets-Meetup-Tokyo-...

Hi All - I'm an out-of-state investor considering investing in Alabama with a few business partners (also out of state). We're looking for recommendations for a tax preparer who can handle the tax preparation for a simple multi-member Alabama LLC. Experience with real estate is, of course, preferred.

Would greatly appreciate any recommendations, and happy to supplement details as needed.

Thanks!

Hey @Peter Rivera - what brings you to Tokyo?  These meetups do occur monthly, on the 3rd Thursday of the month (meaning we had one last week on the April 18th, and will meet again on May 16th).

Depending on your schedule I could probably meet up for lunch on May 1st or 2nd.  You're correct that GW may make it hard to catch people.

Otherwise, you may have better luck trying to schedule your next visit to coincide with a BP meetup.

Send me a message if you'd like to try to meet up.

Hey @Daniel Mills - how's it going buddy?  

I'm not aware of any legal limitations on holding title to rental properties in a living trust - there could be variation by state, but no such limitation in California, for example.  

Perhaps there are strategic or administrative reasons not transfer rentals to the trust?  Not sure any of these are relevant, but potential reasons could include: triggering a "due on sale" clause under the financing; tax treatment of income received by the trust; administrative complications if the trust (as owner) would technically need to be party to your PM agreements, insurance policies, etc.  

When are you coming to Tokyo?