All Forum Posts by: Deepak P.

@Manch Hon  Agree. Multi-unit is the way to reduce per sq ft costs but long way out for me too (capital needs, like u said)

@Account Closed If it is $250/sq ft on the peninsula, wonder if that could be a tad bit lower for east bay

Anyone know if there are significant building code differences between bay area neighborhoods that building new in, say, Fremont might be lot less expensive than in San Jose? Or say, from building in Palo Alto vs. building in Fremont?

@Minh L. My projects are/were in OH, TX and NJ. Learnt some lessons the hard way but doing alright now. Yet to take up a deal in bay area though, but Hayward/San Lorenzo area is definitely one source. Someone mentioned good schools in Castro Valley, and they are right on. It is a hidden gem in my opinion and makes a strong case for tear down + build. If there is one place where numbers might work, that will be here.

Re: courthouse deals, back in 2012, you went to the steps yourself or paid someone for proxy bidding? Re: new builds, do you know per sq ft hard+soft costs that the folks that you know are able to manage to?

An interesting debate for sure. My own experience is this - The capital outlay it takes for dealing in the bay area made me look for out of state deals and that is how I really got started. Cash flows on these out of state deals are good but the capital appreciation potential in the bay area has again and again pushed me to look local. Slowly getting there. But yes, capital appreciation + reasonable cash flow in the bay area has a lot of appeal to me personally than pure cash flows. But one has to stay disciplined and not get carried away by the multi offer situation every where + be patient because deals are drying up. As deals are drying up here in bay area, are any of you doing or considering any of these:

1) New Build: Have any of you made a tear-down build up in the $600K range work in the recent past? (Hypothesis = $150K-$200K in land acq + $400-$450K in build costs for a 1500-2000 sq ft that can retail for $700K or more). My due diligence and analysis is suggesting a new build (to the new codes), the high labor costs, carrying costs (as it can easily take more than a year) are making it prohibitively expensive to make a new build deal work. thoughts?

2) Buying at courthouse: Seen sizeable number of deals blow past me in the past two years - in good school neighborhoods in Alameda and Contra Costa counties. But lately, none whatsoever. What are you all seeing? Anyone still buying at court steps?

Not able to find any one good source that explains lien priority, but found this great read that can educate someone who is just getting started, like myself. Here is the read. It is CA specific, but should come fairly close to how it works in rest of the states

On a side note, would like to bounce ideas with anyone that is just about getting started with tax lien/deed investing

Thank you @Margo Roberts @Troy Fisher and @Jay Hinrichs for chiming in. Any other courthouse/tax sales insights from other bay area investors welcome

@Tim Farrell - Interested in looking at what you can find in the bay area/contra costa. Add me to your buyers' list, and would love to chat

Looks like I have been missing out on some action here. Would love to connect with you all on the 19th. Thanks for setting this up @J. Martin

In State / Out of State?

Started with out of state rehabs, but now looking close to home here in bay area

Strategy?
Rehab/sell + Rehab/hold

Type of properties?
SFR, condo, multifamily

Looking for?
off market deals in the bay area as well as ways to make courthouse auctions/tax sales work

Can offer / knowledgeable about?

Just about getting started but can chime in on out of state deals, auction.com

Hi there CA investors. Anyone on BP from the CA bay area that are actively involved in buying at the courthouse auctions or bidding in the annual county tax (deed) sales? Would love to get your thoughts on:

a) What are some useful online resources? eg: PropertyRadar helps?

b) Do you come across a lot of retail buyers driving bids higher? In other words, do you make money?

c) What/who do you use for title search?

I have done one rehab on a property that I bought from auction.com. Closing may sometimes drag out because for the most part they have short sales or REOs. I did realize that the odds of closing on a short sale with auction.com are better as they directly work with lender as well as seller (approved short sale). Not to say, if you are looking in a hot market, auction prices go as high as the MLS comps as retail buyers compete with investors. But there are some deals for sure in some markets

Looking for a listing agent recommendation in Cincinnati. Needs: someone investor friendly, did a good job for you, can work with a favorable comp structure and can do open house. Home is in Anderson township

Any local advice on selling strategies also welcome