All Forum Posts by: Osazee Edebiri

Hi @Teddy Smith

I looked at Subdividing one of my properties back in 2017 and the costs are very high. It was more than $25k just for the metering. 

If your goal is to maximize cash flow of this specific property definitely focusing on the garage conversion is the way to go. 

What I recommend is talking to a lender to see what other options you have aside from the parcel split loan conversion. A good one will probably advise you of the payment difference you will see since the rates are now higher than when you bought your home. Our preferred lenders at The One Brokerage have talked about hybrid loans, basically taking on a second so you do completely loose the grate rate you have. 

I have had quite a few Section 8 residents in Oakland.

The positives to Section 8

- Timely government payments  - Not subject to rent control - can increase the rent despite the moratorium still in place in Oakland / Alameda County - Solid market rate rents

The negatives to Section 8

- It's the government so they can come up with arbitrary rules that don't make sense or follow the stated rules.

My rule of thumb is these are humans, so in general you can work with them, you won't always win, but as long as you win most of the time you are good. I find the Oakland Housing Authority to be an institution that you can win most of the time if you learn their rules. 

Basically you want to get familiar with the legalize on this website http://www.oakha.org/Pages/def...  assuming its Oakland. If not study the Housing website for whatever East Bay city you are looking at. Based on experience and what I have read, I feel Oakland and SF have the most challenging rules and regulations when it comes to rentals. So if you get knowable about these two cities you should be able to handle most any other city in the country. 

Featuring keynote speaker David Greene (Host of the BiggerPockets Podcast) Hosted by Kyle Renke (Top 2% Realtor in Sacramento)

About this event

Find out what real estate investment strategies are working RIGHT NOW in NorCal!

During this talk you'll learn:

• RE investing strategies that are working in today's market (reevaluating if strategies from the past are still working now)
• The quickest ways to grow wealth
• Redefining a "good deal"
• What to expect in the coming months with real estate
• How you can take action starting now!

Yeah out here most people want to move in the Summer. Probably we're too weak to move in rainy winter, let's not talk about snow 🤣. No, but families dont like to switch schools and traffic really does for winter Holiday Season.

 Thanks,  yes you can rent year round, but rents are significantly lower in the winter. Sac is similar to the Bay, just cheaper.

Thanks.  It's not really about length of time, it's more about how the rate drops, offering concessions, and slower traffic. Once out of the Summer season.  The rehab should only take 2 weeks, but I have some prior engagements, so was trying to strategize getting ahead of the curb.

Thanks,  I wonder if you or anyone has any good strategies for leasing sight unseen prior to rehab being complete, that I haven't thought of? 

4 unit property in Oakland with two units that are vacant and rehab will be starting next week. Normally I would wait to show ready units, but I know leasing ability typically tends to be less as we get out of the summer months. Obviously, I want to avoid as much vacancy cost as possible, but still be affective in renting and not sacrificing the best rate possible. From people's experiences, I want to know thoughts on showing the units while they are being upgraded?

Such a good idea. I have this game, but need people to play it with. I can't make it that night. Please let me know if you host it again on another night. I would love to try it out.

 Awesome let's do it