All Forum Posts by: Mel Selvidge

@John P.,

Thanks for the thorough and insightful glimpse into Norwegian Real Estate.  I'd love to have an international property at some point, and would have expected that Norway would be a country that was growing and also that the affordability of owning might be increasing the renters pool there as it is where I live near San Francisco.  

After listening to The Four Hour Work Week a couple of years ago, I asked my husband if he could work from Norway for the summer.  His boss said, "no problem", so we aimed for places where we could rock climb all day long and be back to wifi and cell phone service for remote work when we were done.

We stayed in Henningsvaer, Lofoten for a couple of weeks in a shared vacation rental home run by the climbing school.  It was booked solid (we had 10 housemates) and expensive (like everything in Norway!), so even though they only were open in the summer, they seemed to have a good business.  Next we spend about 2.5 weeks in a nice cabin in Valle, Setesdal at a campground/motel.  The owners' dad, like many in the area, had converted the family farm land four tourist use in the 70's or 80's.  Tourism didn't seem to take off as well there as it did over the hill in Telemark, and though there were always lots of people around, I think they struggled a bit.  We spent another 2.5 weeks vagabonding and visited Oslo, the western fjords, and the Hardangervidda.  The only time I really checked out real estate prices was in Oslo, and I was surprised to see that they actually seemed cheaper than in San Francisco, though I know I didn't have any insight into the taxation of property in Norway.

Welcome, @John P.!  I spent the summer in Norway a couple of years ago and thought it was an absolutely spectacular country!  Why did you choose Columbus over Norway?  (Just curious.)

My Yosemite VR probably nets around 30% of gross after all expenses.  My costs are a bit higher than they would be near LA b/c of my location.  Still, the idea that you could run a furnished, luxury hotel-like accommodation with paid utilities, cable, wifi, etc. with only 18% in expenses is probably pretty wishful, even if you count yourself as an unpaid booking agent, maintenance person, housekeeper, and host when figuring your expenses.  

Hi, Everyone!

I'm starting a new MeetUp group in Berkeley geared towards folks who are newer to home buying and investing.  In addition to introductions and mix-and-mingle networking, each gathering will have a short presentation on a specific topic as well as Q&A/group discussion on that topic.

There are currently two scheduled MeetUps, both on Wednesdays from 6:30-8:30.  The location is on College Ave. at Ashby.  (0.8 mi. from Ashby BART).  We'll do introductions and presentation/Q&A indoors, but there's also a nice outdoor courtyard for mingling if you're so inclined.  I'll bring snacks, but it's a great foody neighborhood if you want to go out afterwards.

April 29:  The Nuts and Bolts of Buying in the Bay Area -- If you're new to purchasing real estate, you've probably found that the how-to books don't teach what it takes to get a sensible offer accepted in a frenzied market where most homes draw multiple offers and sell over the asking price.  We'll talk about how the home buying process works HERE.

May 13:  House Hacking --  House hackers are finding ways to make home ownership more affordable by finding income streams and/or creating equity in their own homes.  Whether you're an experienced house hacker or are just intrigued by the idea and want to learn more, you're welcome to join the discussion.

I'm bringing snacks, so please RSVP on MeetUp.com if you'd like to attend.  Sign Up for the exact address.  Feel free to call or e-mail me if you have any questions.  

http://www.meetup.com/Berkeley-Real-Estate-Meetup/

keywords: Berkeley, Oakland, San Francisco, Albany, El Cerrito, San Leandro, Richmond, Vallejo, East Bay, Emeryville, South Bay, Bay Area, vacation rental, airbnb, vrbo, TIC, FHA

Hi, Eddie, and welcome!

I'm a newer RE investor w/ a primary residence in Berkeley, a vacation rental in Yosemite, and a traditional rental in Merced.  I've also completely rebuilt my home after a fire and did a total renovation on the Yosemite place, and have changed careers from science to real estate (I'm an agent as well as an investor) so it sounds like we have some similar interests!  

Re: home buying plans:  I'm planning a (free) Meetup soon to share some strategies for "house hacking"  (maximizing the investment side of your home to make owning it more affordable) in the current hot east bay market and give aspiring house hackers a chance to network.    

Re: Also, when we did the rebuild on my home, we used a local general contractor who used a manager, and she was worth her weight in gold.  

Please, send me your contact info if you'd like me to send you an invitation and/or the info for my former contractor/manger.

Thanks for starting this discussion J.  I'm not sure I have a ton to contribute.  Coming from the world of science and computers, RE has always felt pretty integrated to me, though as @Erin A. pointed out, the heavy hitters in commercial RE skew pretty male.    

For whatever reason I have noticed that I end up mostly talking to women at the big meet ups and mostly they are still looking for their first investment.  I don't think a guy has ever slid into a ladies-only circle and introduced himself.   Likewise, I'm not very comfortable butting into the little circles of folks, often all male, talking about their investments when it seems they already know each other and I don't.  I guess a little structure to the break out might facilitate getting people to network outside of the folks they already know.  There are probably guys who would appreciate the nudge to talk to different people too.  I'm partial to the smaller events (like the clean up and Lake Merritt picnic), but that's just my personality.  They're all valuable, and I appreciate you organizing them.

I think part of the gender imbalance in RE to do with who has money in the first place, and guys still have more of it, especially in Techlandia.  (I fact checked myself, and the median man earns 24.3% more in SF.  Among those w/ bachelor's degrees, the median guy in Silicon Valley makes 61% more than the median woman.  61% would certainly make the difference between getting by and having a surplus for most people I know.)  

There can also be an expectation in married couples that the guys are the real decision makers.  Sometimes when J is around, service providers will talk to him instead of me even though he doesn't really participate in my RE investments much.  The Mariposa recorder actually only recorded my husband's name and left mine off of our property in Yosemite.  It could have been a mistake, but I had the sense that someone figured that his name or both of our names were basically the same thing.

There are only two times I really think about my gender as a limiting factor.  1.  I don't want to manage property in certain neighborhoods, and would feel safer having a guy present for open houses or tenant screening.  I do look at the Megan's list registry when buying property.  There are a lot of good reasons for me to prefer class A neighborhoods, and my personal safety is one of them, but my pockets aren't deep enough to to be cash flowing on SFRs in the Berkeley hills.   2.  I also wish that I could swing a sledge hammer and haul demo to the dumpster as swiftly as my contractor.  Of course, both of these issues have work arounds, and seeing how other women as well as men deal with them is interesting to me.

Yep...I sure am glad I got on the rocket ship as the first bubble was blowing up here.  We bought our 1/1 650 sq ft. bungalow in 2004.  It burned in 2005, and we rebuilt a 2 story 3/2.  I'm sure it's doubled in value.  

I don't want to cash out of my primary residence, but having that nest egg of appreciation under me still makes me more credit worthy when I want to pull  cash out of other property or originate new loans, and the $1500 monthly mortgage helps with the rest of cashflow.

The thing is, it's hard to know when you're getting on that rocket and just how far it's going to go.  I just bid on an amazing 1 BR in E. Oakland that was painted like the American flag and all the colors of the rainbow inside.  It got 25 offers.  Mine was a conservative longshot at 16% over asking, and I came in 14th.  Too hot for me to buy right now, but it is a fun time to hold.

Great pics, @J. Martin!  We were so glad that we took the time to come out.  It was fun and gave us a lot to think about too.  Hearing the girls from the neighborhood talk about how they wanted their neighborhood to be nice and have a better reputation because they loved it and thought it could be great really set the tone for the day.

Every year in Yosemite, where I have a vacation rental, there is a fun weekend of clearing trash from the park and maintaining trails.  If anyone wants to join in, here's the FB page.  Sign ups for 2015 aren't up yet, but it's always in the fall, and volunteers who sign up are provided with free camping.

Ordered!  Thanks for adding the women's version.  Two more needed to print!  

The logo is pretty...anatomical.  LOL.  I don't think it's a shirt I'll wear is I'm looking to make a good impression on clients or prospective partners, but no logo tee would be part of my networking attire.

I like it, but I wish there was a women's tee!