All Forum Posts by: Amit M.

@J. Martin

The duplex you were referring to will probably sell to an owner occupier or a flipper. It's hard to buy and hold in SF unless you: have a sizable down payment, can ferret out a good off market deal, or can find a clever value added play that will increase the income after development.

But other than that yeah, only an idiot would invest in San Francisco ;)

@Account Closed

I live and invest in San Francisco. I own 2 small buildings, one converted to condos, the other in process. I live comfortably off the income (av rent over $3200/unit.) I have a ton of equity, and will be making another purchase soon by leveraging part of that equity. I hardly spend any time on prop mgmt, as my tenants are stable and all professionals. It's a cinch.

Whenever I go to local RE clubs, there is a reason why so many out of state investors looking to raise capital frequently come to pitch their projects to us CA investors; all the money is here.

My suggestion: figure out a way to buy locally. Try to by 2-4 units where you can owner occupy. You get the best rates, are close to your tenants, and can learn the ins and out of landlording. Buy in a decent, upcoming area. Even consider a larger down payment (if you can) or take a reasonable negative cashflow you can support. You'll learn a lot, and if you choose a good area, will probably reap some nice equity over the next 2-4 years, which you can later tap into to help fund another purchase.

hey guys, it was great meeting you in person and hearing your stories! Thanks for setting it up j Martin.

A venue suggestion: if you can find a Large restaurant with a private room to reserve, that would be ideal. Can still order drinks and food, but be able to sit together and talk. Or maybe one of the DT hotels has a free option (in exchange for our drink/food business.) Also would be nice at the beginning for each person to introduce themselves and brief us on their markets/experience/what they are seeking. That way you can easily target your mingling.

Cheers :)

^ you don't know that. Maybe the guy drove too fast or wasn't paying attention when driving in the parking lot. If he was negligent, they are very lucky to only have been on the hook for $1 mil IMO. The girl lost her life after all.

both of those are great ideas- name tags and playing musical chairs :)

you never really know what the risks are. In the above example someone was killed and all they got was $1 mil. No point assuming you'll get sued, and they will win, for > $10 mil. Not with small rental props, unless you flip out and go mass murder, than yeah, maybe $10 mil will be awarded. Most small prop owners don't even carry $5 mil.

I'll second j martin's last paragraph: if you intend to go beyond what section 8 agreed to or attempt to remove the tenant (even by gentle persuasion) make sure to consult a knowledgeable attorney. Oakland's tenant/LL operations are second only to SF, and I have heard of tenants walking away with six figure settlements. Remember, the rent board is not on your side! Just be cautious.

I'd think really long and hard about forming LLC's. They are a major pain in the *** to function under, obtain financing with, perform accounting, taxes, etc. In my case my profile is rather low: I own small properties (no parking lots!), they are well maintained, and my tenants are all professions and responsible.

Most liability issues stem from autos and slip/falls on the property. So I have a good umbrella policy that covers my net worth. And I make sure the common areas are in good condition. I think there are some small investors that unnecessarily putz around with LLC's to feel sophisticated about their investments, as it gives them something "important" to do ;)

@J. Martin A suggestion: you may want to c&p the meeting deets on the current page, so people don't have to hunt for it on the previous pages :)

@J. Martin looks like I can make this one. Thanks for taking the initiative to set this up, and near BART makes it a lot easier :)

I'll be interested in meeting investors active in Oakland, as I'm giving some thought to investing there for my next property.

@Account Closed Hi. I talked to your boy Marc, and he seems helpful and friendly :) I also explored the low doc loan option at East West, and it's one I'm considering, depending on my circumstances.

If you can make the meeting, try BART. It's good to get out of the suburban comfort zone a bit! Just drive/park at Fremont BART station. You can pay for the bart ticket with credit card, so no need to fuss with cash. It's so easy a child can do it :)