All Forum Posts by: Alan Siebenaler

Hi Lindsey - I am in Santa Barbara and an active investor and I am happy to connect.  There is also a RE investor meet up I can get you details on.  

@Gaurav Chitroda

I’m local in Santa Barbara and have done out of state investing for over 13 years. I’d be happy to have a conversation with you about the challenges and advantages. Just send me a private message on how to connect over the phone or something. Thanks.

Major fixer or teardown in Santa Barbara on almost half an acre with beach access.

$1.1 Million Cash will be required (bank will not finance this property in current condition)

Renovate and After Repair Value $1.5M to $1.7M.  Tear down and build new value $3M. 

For privacy reasons of residents I will not release address on the internet.  Also will need to qualify any potential buyers. 

Has anyone had good experiences with a agency that will collect back rent for a tenant that has skipped out on you for a few months rent, or a tenant that has been evicted (I have had both cases).  I currently use www.rentdebt.com, but have not been using them long enought to know how good they are.   Thank you

@Lucas Hammer No it's not on the MLS, we wanted to sell it off market to an investor direct. I just tried the link on my computer and it worked. Maybe try again on a computer?

Hi all - just saw this thread.  I have a home right next to Owen Park neighborhood in Tulsa OK I need to sell.  It is renovated and leased.  I have owned it for years and it has been amazing cash flow.  Only reason I need to sell to get my capital out for a construction project we are working on.  I'd be happy to get you more info.  It is professionally managed as I also live in CA.  Here is a flyer I put together on.  

Here is a link to download the flyer, or just PM me.

Welcome DaAnne!  As a part time focus what are your goals?  To buy and hold, flip, or?  Or are you trying to figure that out too?

@Peter Tahk  I sold out of California in 2006 and 2007 at the last peak of the market.  I feel we are getting closer to another peak, but it could be still another 1 to 3 years out, no one knows for sure.  When I sold I did 1031 exchanges into the midwest where I could get cash flow.  I learned a ton, made a bunch of mistakes, but overall looking back it was a brilliant move.  Most importantly I learned how crucial your team on the ground is when you invest long distance.  I taught on this topic here at a seminar:  

http://www.retireonincome.com/building-a-rental-in...

I agree that buying a 2-4 unit with FHA can be an amazing idea. We did it in Culver City CA. We gained equity, lived in one of the units for a year, improved the property and raised rents. Because it was southern CA the cash flow was minimal, and eventually we sold it and put the equity to work in an apartment building in the midwest.

Best of luck to you, hopefully this is helpful input.  

Hey Branden - I live in Santa Barbara, and have invested out of state, so I'd be happy to share my experiences at some point.  As a disclosure I do sell turn key properties in some of the locations I own in.  Regardless, I mainly buy and hold, and I would be happy to share my experiences in any of these cities: Milwaukee, Tulsa, Davenport, Chicago, Suburbs of Detroit, Kansas City, and Memphis.   Crazy I've owned in so many, which is something I do not recommend.  :)  I tell people to be focused on specific cities, until they have a a very large healthy portfolio, then if needed explore moving to another city.  Anyways, I'm happy to be a resource of info, good luck!

I just joined the Meetup in SB!  I'm up for getting together as well.