All Forum Posts by: Steve Meyers

@Kevin V. if I were in your shoes I would fix up the Carlsbad house and keep it as a short term rental that would still give you the freedom to use the property and keep it in the family while maximizing the rents you could get.  Long term rentals are unattractive in CA imo especially since you can earn a lot more with different rental strategies even doing mid term rentals will still probably be more profitable than doing a long term rental.

As far as hiring a contractor or bringing in subs for each item that will come down to how much you want to be involved, you'll save money finding and subbing out individual jobs but it will take you longer and you will need to manage everyone you hire and contract to do business with whereas a contractor will manage all that for you but there will be a premium put onto the price obviously for that.  So it really comes down to how hands on you want to be in your project.

@Jennifer Stammberger did you ever find a good one? I've been searching myself for 2 years now and have yet to find one good cold calling company, I've even tried to hire off upwork directly. Struck out

I have a project in Detroit that I'm looking to get some contractor bids on, curious if anyone has any good recommendations for contractors.

 I did not sign up, they never called me during my scheduled meeting time and then called me the next day to apologize.  Just seems like another marketing company trying to sell ice to an eskimo I'm not sold

@Pollyanna Gomez I have a great contact for you that specialzies in sales in TJ his name is Luis, I will send you a PM now

@Deepak C.you can use Turbo tenant to find tenants, going through a PM company is going to be your best bet for management - most will want 8-10% of the rents.  If you are just wanting someone to go and check on your property periodically for walk throughs I would try and find an agent that is close to the location of the property.  Did you use an agent to purchase? Maybe go through them

@Ian Jimeno I would look into multitaskr for financing the ADUs

https://gomultitaskr.com/adu-financing/

@Lily Scherman any feedback on this program? Is it worthwhile?  I have a call setup with them on Monday

@David Minaya when did the condos that have sold between $1.2m-$1.3m sell?  Was this recent or over 6 months ago?  How long ago did the comps your agent provided you close? 

The difficult part right now is money is expensive to borrow, a lot of buyers are on the sidelines waiting for borrowing to get cheaper.  I would recommend giving the buyer a 2-1 buydown credit to help offset the high rates.  Your agent can market this in the public remarks so buyers see this.  

Yes property values are still appreciating but buyers look at the bottom line of how much is this property going to cost me on monthly basis and with rates in the high 6s the monthly payment is not attractive to a lot of buyers. Good luck

@Anita Z. if your end goal is to eventually move to San Diego then I think this would be a smart plan. If I was in your position I would look to air bnb or VRBO the property you purchase in San Diego this way you will have less negative cash flow than if you were to rent it out to a long term tenant. You will need to get a STR license but they are not hard to get and over 800 are still available. The market here in SD continues to appreciate 10-11% year over year and with a shortage of inventory it's not showing signs of letting up so waiting 5-10 years to just sit on a 3% interest rate on your Merced rental when your goal is to move to SD makes sense to do it sooner rather than later.