All Forum Posts by: Aaron Hall

Keegan Thompson What part of RE investing are you interested in? What are the strengths you bring to the table? What are you will to do? What aren't you will to do?

This is a great opportunity to learn a few basic rule to find success in RE. #1 Make an offer that works for you. If they accept it, then you are in business. If not you are not loosing money by not making deals that don't work. Doing all this work and not having your offer is a great lesson to learn. If it doesn't feel right, what number makes it feel right? #2 Good information Code violations can be tricky. If you do go under contract, make sure you supply all the information you have gathered to interested people on your buyers list. This will build a foundation of trust that will help you with your buyers list in the future.

Here's a link to the Sonoma County Website. Russian River falls under their jurisdiction.

http://www.sonoma-county.org/prmd/docs/vacrent/vacation_rental_faq.htm#signup

Best thing to do is get information from those who know.

I know that @Kendrick Walker has owned vacation rentals in the Russian River area.  Reach out to him or I can help you connect.  

Sarah Cox G'day You have opened a "lively" discussion about your business plan. I have to say it is hard to see how to value add from that distance BUT you have found GOLD - talk with the person that got you started in Chicago. Your friend has surely run into similar challenges and found a way to overcome them. Even if he doesn't have the right answer he may have someone you could ask. Remember his investment plan has different assets, resources and goals. Silly question - can you take your holiday and go to Chicago for a week or two? If you connect with some people virtually and then go to meet them, it could be just the thing to make good connections or find missing pieces. This isn't a cheap prospect but it could be cheaper than the monies lost on not having the right team.

John Weidner has the right idea What is the scope of the project - just the kitchen, are we talking cosmetic fixes only? A GC can help with the overall timeline to get the house ready to rent. The other point to keep in mind with any deal - what roles do you take on with your deals? (roles that you take on vs roles you give to your team/vendors) When you establish your roles in your investment business, you can truly evaluate a property and see if it's a good deal for your investment strategy. Our inexperience can cost us so much more than the cost of a professional. On the flip side what roles do you WANT to learn - education can be costly.

Brad Johnson Julie L. Kimberly Keesler What kinds of properties are you looking for in the North Bay? If you are looking for properties up in the North Bay, come take a look. Take a week end and come see what we have to offer - not just in wine. Best case scenario you find a market that fits your investing goals and you can find the your next deal. Worse case scenario - you put in the work, have a great weekend and have an enjoyable business trip. If you want to PM me and tell me what kind of properties are right for you, I can get you pointed in the right direction.

Pro Tip (from a BP podcast): If someone say they can't help..... Ask them if they know who can help. Just like you are doing here but with your local lenders/banks. Use the "No" to broaden your network of possible solutions. As an investor you want to increase your vendor network. Building your network may not be the solution this time but they may come in handy on future deals.

One important part that has been missed in this discussion is the managing broker. Licensee = salesperson.  A real estate salesperson must work under the supervision of a broker.  Does the broker you will be working for have guidelines as to wholesaling?  What is your definition of wholesaling vs the brokers vs the states?

This adds one more layer to what you must take into consider before acting:

- Law

- BRE policy

- Broker policy

Each one on has it's caveats that supersedes the next. Sorry for making it more complicated vs simpler.

@Joseph Daugert  it great to see you becoming familiar with the numbers.  @Jeremy Gunn suggestion is what I recommend - talk with property managers.  

One piece of advice - the money is made in the sale.  Make sure you are getting a deal in the purchase price, that's the where true deals are found.  

Hope you land a real deal.