All Forum Posts by: Jana Cain

Thanks for the mention, @Michael Plaks!

@David Mazza, happy to connect if you'd like to chat.

@Kyle Marek No problem! Do update us with what you find out. I'm curious to know if they've built in any clauses to mitigate a non-owner occupied investment.

@Kyle Marek Whether or not it will make sense to use as a rental property will obviously depend on more than just potential gains/losses. The program is designed to enable teachers (for now) to own homes near the schools at which they teach. I haven't seen the full lending contract to see what all of the penalties are if you move out of the home without selling it. My guess is since they're open about the 1 year occupancy requirement, you can likely do whatever you want with it after that time. A sale or refinance ends the contract; I imagine you'd be fine.

It's certainly worth looking into!

@Adam Raty Welcome to BP! As part of your research, I recommend that you check out some local meetups. There are tons, all over the Bay Area. There a several that I frequent and I find them to be quite informative and the fellow attendees are friendly and helpful. Check meetup.com as well as the events section here on BP.

Happy investing!

@Kyle Marek I'm not familiar with Teacher Next Door, but have you checked out Landed? They're Bay Area based/focused and have only a 1 year owner-occupy requirement. The founding team is great - they're doing good work.

I own. I had what feels like the opportunity of a lifetime last year to purchase the condo I was renting. Shockingly enough, my PITI+HOA is still less than the going rate for a comparable rental (updated everything, gym, pool, in-unit laundry, etc), so buying made perfect sense in my case.

@Leanna Mansour What did you end up deciding? There are so many factors that play into keep vs sell decisions, but ultimately your strategy should be based on your end game. If your goal is MF, at the very least you'll want to sketch out what it will take to get into a MF in your desired area if you do sell, and if you don't. You may also want to use the BP rental calculator to see what the condo will look like as a rental. 

I'm a numbers person, so my strategy would be to create multiple scenarios and compare them side by side, looking at how long and how much it will take to move you closer to your goal. Plenty of folks on here like to help with analysis, so once you have more details to share, you may get some helpful advice to help you with your decision.

@Natalie Kolodij As someone who has been involved in the horse industry for quite some time, I had to chuckle at the accuracy of your analogy. Lol.

@Vivek Shah I don't have any feedback re: ProactiveAT, but Natalie has provided some helpful guidance. You may also find this BP blog post to be useful, as well, in preparation for your meeting.

The "riff raff" from SF has actually been heading to Stockton and Antioch, Richmond much less so. 

 And there's quite a bit of land to be had, particularly in north Richmond where I've learned it's technically still unincorporated. I'm pretty sure your investments will work out quite well. :-)