All Forum Posts by: Michael Simler

Hi all,

   Does anyone have experience purchasing multi family buildings in the Salt Lake City metro. I'm thinking of investing in some but do not live in the area. Looking to hear from investors experienced in that area for some tips on where the good neighborhoods are and what type of monthly rent is acceptable. I can get financing up to $1.5M. Thanks!

There is a lot of incorrect info being spewed here in this forum. For those who would actually like to educate themselves on the law and avoid discrimination lawsuits, read what the ADA has to say about service animals.  

         http://www.ada.gov/qasrvc.htm

Also, "pit bulls" are not a breed, they are a group of breeds arbitrarily placed together. Again, for those who are interested in educating themselves and being fair and honest landlords, read this from the ASPCA, I promise it won't bite you, even though its about big scary pitbulls...

https://www.aspca.org/about-us/aspca-policy-and-po...

@Erin Cassidy  My friend in Salt Lake City has 4 fourplexes currently for sale. I'm not sure what your budget is but if you are interested let me know. I am a Realtor here in the Bay Area and love working with investors. If you are in need of a professional opinion, I would be happy to answer any questions you have about investing here in the Bay and beyond.

Hi Cody,

  Welcome to BiggerPockets. I am a RE agent and have a few clients in Santa Cruz. There are several options to get started investing. I'm sure you know that Santa Cruz is a competitive market. Do you have a certain neighborhood you are partial to, or are you open to anywhere in the county? There are some more affordable properties in the Ocean ave area, and of course Watsonville. There are also some vacant lots available that are zoned for multifamily development, I'm not sure if your dad is able, but perhaps you two could team up and build something from the ground up. 

Yes, as a matter of fact, those three I mentioned are long term rental management and indeed might not engage in vacation rental management. 

It seems that most of the vacation rentals in SC are managed by online companies such as homeaway, flipkey, airbnb, VRBO, and the like.

If you're interested in buying a vacation rental income property in SC make sure you read up on the Transient tax and all required licensing and permits. The URL below will take you to the City of Santa Cruz website describing the requirements for homes within SC city limits. Each city has their own.

http://www.cityofsantacruz.com/departments/finance/licenses-fees-and-taxes/transient-occupancy-tax

Hi @Jeff Zimmerman,

   Pacific Sun, Sherman and Boone, and Bailey Properties are some of the big ones. I don't have any experience with them managing my own properties, but as a renter in Santa Cruz for 10 years I have dealt with them all. As a renter, Sherman and Boone were the most responsive whenever something came up.

I'm happy to talk Santa Cruz real estate with you anytime. I might be available this weekend if you want to meet for a drink.

Hi Eric,

  I live in Marin as well (Fairfax) and work as a realtor. You are absolutely right, the market here is crazy right now. It's my opinion that Santa Rosa and the 101 corridor in general is a good place to buy right now. Values are not skyhigh and there is great potential for appreciation due to the development going on and the SMART train getting going soon.

@Cindy Meyer,

  Thanks Cindy, that's a good idea. I'm involved in a few Meetup.com groups as well. They are a great resource and would probably be beneficial for you and your husband to develop your business as well.

HI @Cindy Meyer,

  I wish you all the best in your future endeavors. I live in Marin County and am curious if you have any connections with investors in the area. I am interested in starting a local investment group here and looking to find quality people.

Thanks, and good luck!

Regards,

  Michael Simler

Hi Oliver,

  I'm new to BP but work as an agent/investor in the real estate industry here in Marin County. Are you still in San Rafael? Did you find a great agent in the Sacramento Area? If you're still around Marin, perhaps we can meet for coffee/tea and see if we can help each other?