All Forum Posts by: Rob Gaukel

Please join us for the second Santa Cruz Real Estate Investors meetup!  Here's the link to our meetup page where you can find updated information about each meeting.  

Hi Greg,

Glad to hear that you'll be attending.  Given that this is our first meeting we'll be going through the format that @Dax Nollenberger and I have put together.  Dax will provide local market updates.  We'll then discuss various RE investing strategies and asset classes in order to get an idea from the group where we'll be spending our time in future meetings.  See you tonight.

Hi all,

@Dax Nollenberger and I are starting a Santa Cruz Real Estate Investors Meetup. First meeting is Wednesday 10/19. See the link below for more information.  Come be part of the first meeting!

https://www.biggerpockets.com/...

Hi Greg  

@Dax Nollenberger and I are starting a Santa Cruz Real Estate Investors Meetup.  First meeting is Wednesday 10/19.  See the link below for more information.

https://www.biggerpockets.com/... 

Santa Cruz Real Estate Investors meetup is an opportunity for new and experienced Santa Cruz County Real Estate Investors to meet in person and share successes, lessons, and deals. The goal is to make the meetup informative and interactive.  Come share your stories of successes and lessons learning.  Be a part of the founding meeting on Wednesday October 19th and building the Bigger Pockets community in Santa Cruz!

Hosted by @Dax Nollenberger and Rob Gaukel

@Greg Hoffmann and @Matt Ellis 

@Dax Nollenberger and I are starting a Santa Cruz BP meetup.  Our first meeting will be the evening of Wednesday October 19th at Sereno office located at 720 Front St Santa Cruz.  We'll post the specific time and topics as we finalize them to this thread.  If you have any topics you'd like discussed please let us know.  Looking forward to meeting everyone!  Thanks.

@Frank J contreras

Hi Frank, I’ve connected with @Dax Nollenberger in getting a Santa Cruz BP meetup going. It’s in the beginning stages of planning. In the meantime it would be great to connect to talk RE investing.

Correction....$933,333 imputed value 

Hello BP community!

I'm working on putting together a proposal for an equity share and cash flow split on a house that I manage.  

I'm located in California, in a college town, and this house is being rented far below market because of deferred maintenance.  I believe the owner has limited resources to invest in the house.

Here's what I'm proposing:

- $70,000 Capital for repairs and on lost rent during repairs

- 7.5% Equity Share Stake in return 

- Estimated increase rent is $2,000 a month after repairs split 75% to me / 25% to the owner

- 5-year guaranteed cash flow.  If the house is sold before the end of five year period the difference in lost cash flow is paid out from the proceeds of the sale

- At the sale of the house the appreciation gained between the imputed value at the time of my investment ($1,000,0000) and the sale price is shared with 7.5% going to me

I'd be borrowing the $70,000 at 5% to 5.25% full amortized due in 5 years.  The cash flow split would cover my debt.  With 2.5% annual appreciation + 5 years of cash flow total annualized return is 10% on the $70,000.

For an owner that does not have the capital or ability to improve the property is this offer attractive enough?  Thoughts on the structure?

Thanks

Finding the right tenant is key to successful investment property ownership. The tenant screening process should be consistently applied to all potential tenants and is analogous to the underwriting that all investors have gone through when seeking a loan. The Tenant Screening Checklist helps with applying the process consistently and completely. It starts by defining the criteria of an ideal tenant for each investment property. Those criteria are then messaged in your advertising and reiterated in pre-screening phone call with each potential tenant. Only applications completed in full should be accepted. Only potential candidates that meet the criteria should be selected for a background check. The background check should be used to independently verify the information the potential tenant submitted on the application. Employment verification and personal reference checks further validate the information supplied by the tenant on the application.

What’s your Tenant Screening process? Do you use a checklist?