rental property glut? - Posted by michaela-CA

Posted by Rich-CA on September 22, 2007 at 21:21:47:

I understand that part. In fact, the City of Phoenix has a program where if you call and report graffiti, they will come and paint it over for free.

Of course, the colors never quite match, so for those of us looking for the signs, its easy to spot.

In our area its gang initiation, followed by B&E and then worse crimes.

rental property glut? - Posted by michaela-CA

Posted by michaela-CA on September 21, 2007 at 13:56:22:

Ok, guys, where are the areas, that have lots of empty rentals?

I may have to bite the bullet and leave the Bay Area again.
I love it, but after 6 month sof living out of a suitcase and all my stuff in storage and not being able to find a place to rent for myself. I’ve tried all kinds of stuff, trying low end rentals, which hav +100 responses, if the landlord allows dogs. I’v gone up to $ 3000 per month, thinking I could get
a housemate, as I don’t want to spend that much for myself. But the higher ends are asking: Why do you need so much space by yourself? I’ve written to every house in a new subdivision, where I knew that a lot of investors bought, and asked if they’re interested in renting. I’ve contacted lease-options. No, I’ve not tried to buy, as I’m really not
looking to buy anything in the current market conditions. Even 'sub-to’s are tied to high payments, and I expect the market here to soften further.

What it balls down to is, that there’s a huge rental shortage in the area and very few landlords accepts dogs. For those that do, they get 40-50 applications, with at least half of those applicants having perfect credit. As
I’ve had some financial difficulties 3 years ago, I don’t fall into that. I’ve offered lare deposits and even using
one of my properties as secruty. No avail. It doesn’t matter how much cash I have in the bank. Landloards here have no shortage on potential tenants and they will pick and choose.

So…I’m considering leaving the area as I’m really, really tired of living out of the suitcase.

Where are the areas, that have a lot of empty housing,
where landlords are more willing to look at the individual
situations?

Michaela

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have you tried… - Posted by roundhouse

Posted by roundhouse on September 26, 2007 at 16:03:57:

RV parks, marina’s?

Ive lived in campgrounds before, you can get a nice camper at the auctions where they sell wrecked cars, for almost nothing, because it has a dent or two.

Failing that you could get an older high mileage, totally worn out 18 wheeler tractor, with a big stand up sleeper, like a Volvo, and live at a truckstop. Ive done that too.
i installed a shower and mini fridge and microwave and portable toilet.

If you have a toilet and fridge, you can register it as an RV so no CDL or expensive insurance needed.

ALso maybe living in empty houses that are for sale, until they get sold?
I know a guy in GA that does that, he works with a RE agent and many sellers who have already moved out of state will let him live in their house till it sells, since everyone knows an occupied house sells faster, and doesnt get vandalized or stripped of its copper pipes.

How big is your dog,? most places allow pets under a certain poundage.

I wouldnt buy a place yet, unless you get a screaming deal. no one knows what the market is gonna do.

Re: rental property glut? - Posted by John

Posted by John on September 23, 2007 at 18:17:17:

You really can’t expect to get rental market deals when you have a dog. There are too many potential problems, sorry to say. Barking, property damage, etc. Ditch the dog or live in a lower class neighborhood, I say. Best of luck!

Re: rental property glut? - Posted by Ed Garcia

Posted by Ed Garcia on September 23, 2007 at 07:53:01:

Michaela,

I was just browsing and came across your post; itâ??s good to hear from you again.

Since you are considering leaving the Bay area, and like California, why donâ??t you consider some locations close by. You can either go inland to the Sacramento area. I have a cousin that lives in Carmichael and his son has a home on 2 acres with horses.

Or if you want to stay on the coast, drop down the cost a bit to Paso Robles, San Louis Obispo, or even Pismo Beach. California is just a beautiful state and there is a lot available. You can even go up the coast from the Bay area where things are cheaper and you shouldnâ??t have any problem keeping your dog or further down the coast to Southern California.

Michaela, I know you have my number and any time you want to chit chat call me and Iâ??ll give you some suggestions if you want to stay here. There is a ton of foreclosures in southern California and itâ??s going to get worse or should I say going to get better.

If you go back to Georgia, I know thatâ??s your turf and you will no doubt buy yourself another Historical Mansion. Thatâ??s your problem; youâ??re a little spoiled form living in Georgia (smile).

At any rate itâ??s good to hear from you and if you need me you have my number,

Till then,

Ed Garcia

Re: rental property glut? - Posted by David K.

Posted by David K. on September 23, 2007 at 05:39:42:

how about contacting the local investor clubs, like those with REIA. I might look further out of city, and I might contact some other people like authors, Leigh Robinson, Ron Starr, John Beck, or Michael Morrongiello all of which are in the bay area.

thanks, everyone… - Posted by michaela-CA

Posted by michaela-CA on September 22, 2007 at 20:13:31:

…for your advice. I had a little meltdown yesterday and am feeling better today. My dog doesn’t like other dogs, so my experience with shares that allow pet owners usually means, that there’s already a dog in residence.

Also, in regards to Richmond. I have extensively looke din Point RIchmond. That area had been my focus for the past month. Have written to every home owner in a new deveopment called Seaclif. Got 6 respnses for 90 mailings, so not a bad rate. ;-). THey all didn’t work for one reason or another 0 either dog or credit or whatever. I walk 5 miles every morning, so it has to be an area I feel safe in. My dog gets carsick, so I wouldn’t be able to drive a few miles in the morning to walk somewhere else.

I have one more application outstanding and hope I’ll hear tomorrow or monday. I will look some more tomorrow and give myself this week. I hav eno place by end of this month and if I don’t find anything then I will move back to Georgia. I know that I won’t have a problem finding anything there.

Michaela

Re: rental property glut? - Posted by Sailor

Posted by Sailor on September 22, 2007 at 15:03:12:

Michaela, I’m sorry to hear you are having a problem finding a place. I’d contact the local animal groups & see if you can network a rental. Have you tried locating a roommate that already has a pet-friendly pad? Maybe advertising for someone who owns & could use some help paying the mortgage?

Good luck!

Tye

Re: rental property glut? - Posted by Mark (SDCA)

Posted by Mark (SDCA) on September 21, 2007 at 21:44:00:

I have a SFR going vacant Oct 1 in Phoenix :stuck_out_tongue:

Seriously, sounds like a good market to buy low and be a landlord. You really won’t consider that?

GL,

Mark

Re: rental property glut? - Posted by Rich-CA

Posted by Rich-CA on September 21, 2007 at 18:02:32:

Richmond had quite a few “for rent” signs up on the multi-family properties. Some websites to check:

There are also the following large complexes. I drive by these all the time and the best looking (from the outside) are marked with ***.

Baycliff Apartments
2300 Lancaster Drive
Richmond, CA 94806
510-222-2306

Bella Vista
3400 Richmond Parkway
Richmond, CA 94806
510-223-5688

The Tides
3189 Garrity Way
Richmond, CA 94806
510-758-6874

***San Marco
2601 Hilltop Drive
Richmond, CA 94806
510-669-9393

Creekview
3535 El Portal Drive
El Sobrante, CA 94803
510-222-8623

There are also a lot of smaller complexes along San Pablo Dam Road. I can also ask one of the guys at our church who owns several buildings in the area what he has. Let me know.

Re: rental property glut? - Posted by Greg¶

Posted by Greg¶ on September 21, 2007 at 14:54:51:

Have you tried finding mobile home parks? Either one that rents trailers, or one where you could buy an old trailer from the current owner?

Re: have you tried… - Posted by michaela-CA

Posted by michaela-CA on September 26, 2007 at 18:53:37:

Thanks! I never, ever thought I’d do this, but I decided to give up and move back to Atlanta, as I know that I wouldn’t hav ea problem finding a place to live there.

yes, I have tried vacant, for sale houses, but even those are renting for high priced $ here and have lots of competition. Also, dogs are usually not accepted
in those. I have tried Marinas, in fact, was just turned down on a bid for a floating home - made 2 offers simultaneously: Lease/option and 24 month owner-financing. Offered pretty close to full asking price and since this is a completely secluded marina and it’s been on the market for a while I was sure they’d accept. But they countered so far from where I was that I let it go. Also got turned several times this week because I don’t hav ea regular job. People being afraid, that I blow all my money in a month or 2 and then be broke.

I just cna’t do this anymore. I have never seen anything like this. Never, ever expected that I wouldn’t be able to find a place to live. I’ll basically be homelss as of monday, and since I don’t know where else the market may be similar to Atlanta (no shortage of rentals) I’m putting my tail between my legs (so to speak :wink: and slink back to georgia :frowning:

Michaela

Do you also - Posted by michaela-CA

Posted by michaela-CA on September 24, 2007 at 09:47:17:

tell people to ‘ditch their child’, if it’s inconvenient?

Claudia Bartlett - Posted by Fonda Sweeney

Posted by Fonda Sweeney on October 19, 2007 at 18:35:51:

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Tim Gomez - Posted by Vicki Macias

Posted by Vicki Macias on October 17, 2007 at 22:52:45:

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Penny Washington - Posted by Jame Wallace

Posted by Jame Wallace on October 16, 2007 at 10:26:05:

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Re: rental property glut? - Posted by michaela-CA

Posted by michaela-CA on September 23, 2007 at 10:08:27:

Ed,

thank you! Yes, I do have yournumber - somewhere in my storage space ;-),m or I would call you. Literally, eveything I own is in storage, save one of those little suitcases that you can take on the plane - a few pairs of jeans, some t’s, a toothbrush. The past month I have been sleeping on an airmattress in a room of a house that’s being renovated - no kitchen or fridge. I spend at least 1/2 the day chasing form one internet cafe to another to read craigslist and see if there’s anything new listed that would fit for me. The other half I’m driving around looking at places.

You’re right, I’m spoiled with previous living arrangements, but after 6 months of living out of a suitcase I’m worn down.I should be willing to move farther away, but to me that would defeat the purpose of why I moved to the Bay area. If SFO is 2 hours away, then I could just as well live 1000 miles away.

I just had a little meltdown the day I wrote that post. I’m back on top and convinced any day I will find something where I can actually unpack for a year.
I’ll be fine!!!

Michaela