All Forum Posts by: Noah Laker

Hey Sejin, usually if you get a notice to vacate from the PM or owner to the tenants that can satisfy the loan requirement. 

VA loans can have a few extra hurdles, so from a seller's perspective a cash offer is more attractive (no loan or appraisal contingencies and no lender-imposed inspection requirements), but if you make a competitive offer, and especially if they haven't received other offers yet, it's worth pursuing regardless.

Hey Ilya, I'm a local investor, real estate broker, and property manager -- we manage about 100 STR properties in addition to long term.

Love the strategic thinking here. I think your greatest barrier is "analysis paralysis..." a very common affliction. There are limitless opportunities out there, and it can be quite overwhelming. 

There's something to be said for investing in your backyard, where you have full control over the property and your service vendors. If something goes wrong in Indiana, it's gonna be a massive headache, whereas if something goes wrong nearby, you can go and resolve it quickly and efficiently. 

Additionally, those cheaper midwestern markets tend to fluctuate and do not appreciate the same way that a "blue chip" market like NorCal will. This should be considered. 

There are many multifamily opportunities in Sacramento and surrounding areas. In your shoes, I would buy a small duplex-fourplex, live in one unit, and rent the others. This would be a better long-term play as you pay down the equity and "hack" the property. Just my two cents. 

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!