All Forum Posts by: Rob Hoffman

I own a rental in a sketchy part of East Oakland. I have a great tenant that plans to stay for a long time. Lately there has been some deals on the MLS that you could definitely make the numbers work.

If you want to continue living in the home you already own then only borrow enough money so that you can still afford the mortgage. Depending on how much equity and income it may or may not be able to make that work. If you are willing to buy a new primary residence and rent out the home you already own then that is another option. Do you have the possibility of adding a secondary unit to your current property?

@Lori Greene not always accurate...but sometimes. It seems like they set the zestimates on autopilot according to what they expect the market to do. I notice that sometimes they will make big adjustments which are also not always very accurate. Ive found Redfin to usually be more accurate where I am located.

This is also a topic that I continue to struggle with myself. I own a rental off of 98th. I bought it as a primary residence about 4 years ago for under 270k. That property didnt require any work but I did remodel 1 bathroom and added forced air heating. After listening to podcasts and finding BP I became interested in OOS investing. After visiting a couple other markets and turnkey providers I ended up purchasing another primary residence here in Oakland early last year and renting out my original residence.

My plan right now is to build an ADU in my backyard to bring in enough income for this property to cashflow and purchase my next primary residence. For now I think my focus is value add duplexes or properties with 2nd structures that can easily be converted to secondary units.

This is an opportunity to learn a lot. Join a brokerage and list the property yourself. Any broker you join should love to help you list a 1.3M property that you show up with. Once in contract hire a TC that is also a licenced agent to help you through the transaction. 

If I was in your position I would sell and purchase a property in the east bay where the market is a little friendlier to investors. Duplex-4plex could be great in the right areas. With the equity that you have available to invest, even single family can cashflow 2k+ monthly. There may be better options out there but this is what Im familiar and experienced with so this is just my personal opinion from my personal experiences.

 @Jay Hinrichs is on a roll. lol This isnt the first post I seen in the last 10 minutes that you have replied by taking a shot at Morris. 

   Chris Clothier is actually with Memphis invest. Midsouth is ran by Terry Kerr.

@Darius Kellar definitely depends on her contract or agreement with her broker. She should ask about this when interviewing brokers.

I bought a house with my fiance a year ago. Only my fiance is on Title. My broker pretty much only charged me for Errors and Ommissions.

I credited the rest of my commission to my buyer.

Wooooohooooo!!!!