All Forum Posts by: Noah Laker

Of course it's better to have your own representation. "Dual representation" is an oxymoron; one agent cannot balance two opposing interests without giving bias to one side or another, either directly or indirectly. 

What's up Seth, glad you tapped into the BP community for advice. I'm a local broker, investor, and property manager. At this price point it might be worth investing in a professional appraisal, or just meet with a great broker. You'll want not just to go off of comp sales, but also potential income / cap rate calculation, and reproduction costs. Appraisers use multiple methods and you should too. 

 You may want to consult a property manager!

Above all, make sure you're cognizant of fair housing regulations... If they meet your criteria, you may not have a valid reason to decline their application. Base your decisions on hard facts only and maintain a paper trail. 

Hey Anton, I'm a broker and property manager here in Sacramento with a lot of experience in coliving, we manage about 100 airbnb rentals and some by the room. The answer to your question probably depends on other lifestyle factors, and your goals with your real estate portfolio. There might be a time to cut losses and just sell it, or if it makes sense your other plan could work, as long as you pull permits and do everything carefully. What does your gut say?

I'm a real estate broker and my client is a high W2 earner, taking advantage of the "STR Loophole"

His CPA told him that he can only do cost segregation on properties which are active STR's.

My understanding was that, if he obtains REP status through any one of his properties, that he can take advantage of depreciation on any investment property, even if that one is not an STR. Am I missing something?

Hey Suhaib, I'm a broker and investor here in Sacramento and I manage about 100 Airbnb properties. Your negative cashflow problem is very common. 

Here's the deal: You cannot do short term rentals in Folsom unless the home is your primary residence. However, there is a workaround with a creative rental model. I learned this from some investors down in LA. Happy to share :)

What's up Rickey, I'm a broker and investor here in Sacramento, and I manage about 100 rental / airbnb properties. With a Condo, couple things to note:

1) Financing can be a challenge, but as long as the building is in good condition, you should be fine. You can do less than 20% down (as low as 3.5-5%) if you intend to occupy the home for at least a year.

2) There will be an HOA (homeowners association) which restricts rentals, so be sure to read the CC&Rs (governing documents) to ensure that your rental strategy is allowed, even if you intend to live there at first, eventually you'll be transitioning it to an investment property, so this will be important. Most HOAs in this area don't allow short term rentals, only long term tenants.

3) Make sure you have a great team to guide the transaction so nothing gets missed!

Hey Henry, god bless your family and thanks to your son for his service. We are a local brokerage and property management firm, I manage a lot of furnished rentals and work with folks here on BP. Would highly recommend @Keith Mintz for this case, he knows San Diego like the back of his hand. 

The risk/reward here sounds pretty far skewed. I thought the point of PML was to get a handsome return without the risk! Pass!