All Forum Posts by: Vu T.

 Lottery tickets.

I don't live in FL but I feel your pain.  I'm struggling to find my first investment deal in the CA and NV markets.  It's pretty slim pickings out there.

I've been seeing a TON of mega-apartment complexes pop all over the OC and Irvine areas.  These are all pretty trendy apts next to trendy restaurants etc.  It's now popular to build the apartment complexes on top and have businesses on the bottom.  What's old is new again.

@Art Ritter

The CA market is pretty gloom unfortunately.  That's pretty much why a lot of people I know that are investing, do it OOS.  Even reading BP, that seems to be are recurring theme for us CA people.  The price of entry for new players is just too much.  I looked at the possibility of getting properties in Sacramento, but not much is exciting.  Inventory continues to be insanely low across the board.  Anything that is "affordable" are really just located in D-ish neighborhoods up there.  

My recent OCREIA meeting pretty much affirms the fact that CA is just a special child when it comes to all this - exceptionally low inventory and exceptionally high demand.  If you invest in CA, you are speculating on appreciation more than cash flow.  

I mean there are places like Victorville and Barstow that is "affordable" but it isn't exactly a booming city.  Just seems like a bad bet for new guys.  Maybe when the next quake that hit us, it's just a matter of when at this point, our sky-high prices will come down to earth.  Maybe then I will reconsider this state.

@Art Ritter Thanks for the great response!  

Since finishing my LLC book and reading up more on the subject, I really do regret starting the LLC in CA. In hindsight forming one in NV would have been a much better deal. Live and learn I guess.

Unfortunately I am stuck in this state for the time being because of work and family. Even If I formed the LLC in NV, I would still have to pay that lovely FTB for the pleasure of "doing business in CA" because I happen to live in CA. Maybe one day I can escape to freedom!

Going from absolute zero business/finance/tax/real estate knowledge - and someone who absolutely hates numbers and paperwork - it's been quite a daunting task these past few weeks to try to absorb all this.  I really appreciate all the help and connections I've made on BP!!

Jeff,

I would have property management manage the properties as I will be out of state.  I know those guys need a RE license, but do I?  I was under the impression that I don't.

Thanks Michael that would be great!

Hi guys,

I'm forming an LLC in CA. Do I and what kind of business licenses would I need to operate renting property in Nevada, mainly Reno area? Searching the net reveals conflicting info. Some say I don't need anything. Other's just say to contact the city.

Anyone have experience and would like to shed some light on a new guy?  Who would I need to contact in Reno?

Thank you!

Having lived and worked in Detroit, East Lansing, Ann Arbor and Grand Rapids during residency, I personally would veto going anywhere near Detroit.  Sure there's a lot of "reconstruction" but Detroit, for the most part, is the very definition of a D class neighborhood.  The only place worst would be Chiraq.

Personally I like the Ann Arbor area and Livingston County.  Safe clean neighborhoods with solid renters.  I'm still looking for good properties in these locations.

Good luck to you!

@Michael S. Helton

That's a great site thank you!