All Forum Posts by: Julian Gonda

Hey @Hadiya Coppedge, congrats on the solid investment!

I love this especially because it's a townhome. Clients often stray away from condos/townhomes, but with the right mindset and due diligence on the HOA/its rental restrictions, they're absolutely great house hacks. Affordable too.

Best of luck with the rest of your portfolio!

Hey @Scott Saling, excited for your new venture!

Going to second what @Brian Garlington said on Kaplan. Also @Matt K. with Real Estate Express and paerticularly PrepAgent. PrepAgent helped me pass on first try, it's got a handy app that I used for practice quizzes on the go.

Best of luck!

Hey Kara,

Congrats on being in escrow! I definitely understand that home inspections can be an influx of information, especially as a first-time homebuyer. It does help to have an extra set of opinions, and Greg Scott provided solid input.

For (1) and (3), water intrusion and wood deterioration are not uncommon for older homes. Having a pest inspection done is helpful as well because it notes the areas of dry rot, fungus, termite damage, water damage, etc. and give you actual bids on how much it would cost to repair.

(6) is not a major repair, as Greg mentioned.

For (2), (3), (5) -- any foundational notes like these I would agree to consult with a structural engineer or expert, as it likely suggests in the home inspection. If you haven't done so already, I would ask the inspector transparently how severe this sloping/grading/foundation is affected and if it would be a major expense. What I like to do as an agent is to get the inspector on the phone (sometimes with my client) and inquire with the inspector that exact question, along with any other areas of concern in the home that you feel is a major issue. 

Hope this helps and best of luck!

-Julian

Hey all,

Not quite Peninsula, but there's a meetup in Mountain View on Wednesday, July 13 from 6:00PM - 8:00PM. David Greene will be a keynote, lots of solid info.

What's Working in the Bay Area in 2022?

For those who attend, shoot me a hello!

Stoked for your REI journey, @Waleed Elgindy!

Hey @Shannon Park, welcome to BP :)

House hacking is a great entry to portfolio building. If you want to keep relatively close, the east bay could be a good market for MFR investing (considering your reserves).

Best of luck otherwise!

Hey @Carlos Tapia, love both cities. Last I went to Chicago was right after the Cubs won the World Series... incredible atmosphere and city. But on a related note, house hacking in the Bay Area is a solid idea. Offset your mortgage, and have the bragging rights to say you own in the Bay. Guided a number of clients into homeownership out here through house hacking and there's nothing like seeing their excitement :) 

I also agree with @Allan C. on comparing the two market conditions. Appreciation-wise San Francisco-Bay Area experienced ~20%+ home price growth year-over-year as of Q2-2021 compared to Chicago's ~13%. I suppose this gives insight on investing in this "expensive" market at this time. Definitely possible to utilize that FHA loan to your benefit too.

Best of luck on your journey otherwise!

@Yasir Einaudi greetings from the Bay Area, CA!

Call the listing agents; build rapport, and frankly ask if their list price is transparent. Otherwise ask if the sellers are expecting a particular number. Make it known you want to make it a win/win deal, the other side likes to be heard and often times will have them eager to work with you once they sense that. That’s from my experience at least :)

Such a solid post, @Stephen G. Thanks for sharing your experience through the years, lots of nuggets to take away from this thread.

Congrats again on your duplex and glad to see it’s working out well!

If you know how to search and do your due diligence, Airbnb's are great. My preference, and haven't had a bad experience. But on that same token... personally, it's always about the experience when I travel. The conversations I've had with hosts around the country (who happen to be around) were priceless. Cheaper alternative most of the time too, even when scoring a kitchen.

I've also worked at major hotels, and I get it too. If there's a bar I grab a brew and talk it up with the bartenders because they know where all the cool stuff to check out are at. Especially the local hidden gems.