All Forum Posts by: Raj A.

I've seen some comments on recent posts along the lines of "...but I won't be investing in California because the laws and regulations are very unfriendly to owners/landlords." On paper I recognize California is a high tax/high regulation state (lived here for over a decade and wouldn't refute that) but I'm curious if anyone has specific regulations or laws in mind that they can share that make ownership/landlording more difficult than other areas of the country. Even better if you know of local Bay Area laws to point to or in consideration under legislature in the area. For example, I know Palm Springs has a limit on how many STR licenses a business entity can have and Napa/Sonoma are either in the process of limiting or have already limited the number of STR licenses in the county Links, resources etc. would be great.

Great idea; thanks Brooklyn

Will check out Sun River; thanks again Michael. 

Great call out Michael; I’ll definitely take a look and do a bit more research. Do you have property in the area? Appreciate your response!

A good friend of mine is thinking of doing this and it seems viable for them given where rates were a few years ago on a 30yr mortgage. They're also okay with floating at neutral to slightly positive monthly income for a while so that's another consideration. While a lot of people have moved out of the city as a result of the pandemic and I think it will be a while until rent rates recover to a normal rate, it's definitely possible to do.

Unfortunately don't know any agents in SF proper but do know a great agent in Marin. DM if you want details. 

You may want to post in the classifieds and see if there is a contractor in the area who you can bring to the property and do a walk-through. That way they can help you understand what type of repairs need to be made and help itemize them as well. 

Would you have any issues with the ordinance that was passed in Riverside if converting the barn to those units? Or are you saying you would convert the barn into MTR and thus stay within compliance of the local regulation? 

I've found AirDNA to be useful in getting some comps on what type of occupancy rates you could expect in a particular area (but the full service itself is fairly expensive, at least from the perspective of someone just starting out in RE investing). Having that detail may help you make a decision. 

I'm curious if anyone in the Bay Area or in these forums has any experience with STR in Pine Mountain Lake, California, near Groveland and about 30-60 minutes away from Yosemite. I've found a few decent listings that are both turnkey and/or would need some understandable rehab, but want to get a sense from other STR ownwrs in the area what their vacancy rates are, avg nightly rental rate etc. I've been using AirDNA to get a sense for this but want to gut check those numbers.

Thanks
Raj

Good callout Basit. I’m starting out and my risk profile is thus nowhere near a multi-property or even multi-state scenario but definitely something to plan for when the time comes. 

Much appreciated and thanks for the confirmation Nathan. Between everyone else's post and yours I'll proceed with the simplest LLC setup to start out especially given I'd rather use that capital for the next deal vs a complex org chart on paper.