So no 4-plex for you?
I am still looking around for prospects, but I am concerned about the developments in the economy (job losses, higher rates, etc). My Oakland contractor showed me a 4-plex there that was kind of reasonable that he wouldnāt mind going in half on. Too rainy today to want to go out. I may go to check out the Sunset 4plex since it is close.
That developing story in SF Chinatown where a two story building is going to be demoād and rebuilt to at least 5 to 6 stories is something I have already started selling the family on. Even my skeptical Big Bro is interested, since he is so biased towards SV like you cats. I like the pushing of the envelope. Ok city, you say there is no housing. Ok, I propose X number of new units. What say you? We donāt care about the current zoning heights, etc because we all know those donāt apply anymore. Are you going to say no to more housing, even if mostly market rate? No different really from all those condos downtown. This could be a game changer for that part of the city which means I have to have my pennies readyā¦
That number looks interesting @Elt1. Do you manage or hire a property manager? Do you think it is possible to hire a property management company for such deal?
Property manager would do itā¦Probably cut into your cap rateā¦Hard to find 10 capsā¦People are now paying 5 cap rates in Tahoeā¦ But plenty of opportunities for value addā¦Lots of rent increase potential ā¦Plenty of old tired placeso that need work
More than 4 units, we need to have property management
I assume you are saying this from the perspective of doing this as part time, right? There is no law requiring that? I only know one law that require to have onsite manager for 50 or 100 units?
On site manager required over 15 units
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Really?! Did not know that.
Like in one building, right?
Yes,
http://stimmel-law.com/en/articles/legal-requirements-site-manager-residential-property-california
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That is elt1 !
I knew there is a limit for self management, but did not know exact 15 (thought it was more than 4 units). Thanks for proof !
In my 8 unit building I really need an onsite managerā¦Especially during the bad weather we have hadā¦Thinking about giving a rent reduction of $100-200 for a responsible tenantā¦Will cut down on the calls I getā¦Ideal size is about 100 unitsā¦On site mangement costs are easily absorbedā¦
Biggests management issuses always relate to waterā¦Plumbing issuses, leaks, flooding, snow removal, irrigation, moldā¦
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Is onsite manager a full time hire?
I am negotiating with a fireman and his girlfriend for a farm manager. Current tenants in my Tahoe apartments. Never found a manager. Not enough work to justify one.
He just got a job In Camino. I have a very nice garden apartment on the property. Worth $1200/m. 500sf one bedroom. I offered it for $500 plus he would owe me 40 hrs per month. 480hrs per year, about 9 hours per week. One quarter of a full time job.
As far as wineā¦ The value is all about marketing. And damn it the millennials arenāt buying the hype. They would rather smoke pot and drink craft beer 
I hate craft beer. Especially hoppy bitter crap or flavored beer and seltzer.
The farm manager would get the use of the pool too and could have chickens and livestock. Luxury farm living. Ten minutes from town.
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