All Forum Posts by: Gene Hacker

Any good books or resources for creating operating systems for managing STRs? Most of the books I have read are geared towards the absolutely new investor. We have three properties up and running and we are now looking at implementing systems so we can delegate more to an employee. My goal is to create systems for housecleaning, periodic inspections, maintenance, new property set up, etc.

It is the third Thursday of the month. Message me and I can give you a link to sign up for automated updates. 

Thanks

Gene

Our group is a great place to meet other investors and real estate professionals for our monthly networking meetup.

Rusty's Pizza (Laurelglen location - corner of Ming and Ashe)

6675 Ming Ave, Bakersfield, CA 93309

The meeting room is a separate entrance to the left of the main entrance.

About our group: People in our group, network and do deals with each other, and make a lot of money! Our group is all about networking with others. If you have an interest in real estate investing, flipping, wholesaling, buy & hold rentals, building wealth, loaning you own money, partnering with others, or just want to learn from other locals, this group is for you!

We openly welcome everyone and encourage everyone from newbies to seasoned pros to attend our meetings!

Bring a friend and pass this invitation along to anyone that could benefit from networking with others about real estate investing.

Our meetings are always free. There are no speakers selling expensive training or pushing products.

Hi Derrick, they have always been on the third Thursday of the month.  But that may change. Send me a personal message and I can send you a link to get signed up to get notifications.  

Congrats! When did you buy?

We have a decent sign up on meetup so it should be a good meeting.  Bakerfield or Kern County investors, come join us!

Thursday, March 17, 2022
6:30 PM to 8:30 PM PDT

6675 Ming Ave · Bakersfield, CA

How to find us

The meeting room is a separate entrance to the left of the main entrance.

Our group is a great place to meet other investors and real estate professionals for our monthly networking meetup.

Rusty's Pizza (Laurelglen location - corner of Ming and Ashe)

6675 Ming Ave, Bakersfield, CA 93309

The meeting room is a separate entrance to the left of the main entrance.

About our group: People in our group, network and do deals with each other, and make a lot of money! Our group is all about networking with others. If you have an interest in real estate investing, flipping, wholesaling, buy & hold rentals, building wealth, loaning you own money, partnering with others, or just want to learn from other locals, this group is for you!

We openly welcome everyone and encourage everyone from newbies to seasoned pros to attend our meetings!

Bring a friend and pass this invitation along to anyone that could benefit from networking with others about real estate investing.

Our meetings are always free. There are no speakers selling expensive training or pushing products.

It is really an illogical bill.  Flippers don't limit supply long term. Many buyers don't have the skills or resources to fix up dilapidated houses. Sure there are some that do a poor job (lipstick on a pig type flippers), but most provide true value.  

I am not sure how likely this is to pass but it is worth watching for anyone that invests in California or may wish to invest in California in the future. 

Basically, it looks like it is meant to target anyone buying and selling single family homes that they hold for less than 7 years.  

It is also worth noting that the additional tax would even apply to exchanges so it looks like 1031 exchanges would not offer protection from this new tax. 

Bill Text - AB-1771 The California Housing Speculation Act: income taxes: capital gains: sale or exchange of qualified asset: housing.

Bakersfield prices are up 23.6% YoY, I would not really call that slow and steady appreciation. It has been pretty crazy lately with low inventory and multiple offers. In terms of cash flow, the low fruit of a few years ago is long gone.  But I still see investors taking down impressive deals. 

Oil is having a nice run but there is no way of knowing if this will be short lived or an ongoing and sustainable trend. The good thing is Bakersfield's economy is diversifying away from being oil focused.  It is becoming a major logistics hub and that trend is likely not going away anytime soon.