real estate

Episode 27: Jake Knight with Confessions of a Bay Area House Flipper

Jake Knight confesses to living the dream – he’s a Bay Area house flipper. It seems that house flipping is all the rage these days, and the idea of flipping homes here for big bucks is a fever dream of many. In fact, ATTOM data estimates that nearly 6% of homes sold in the US in 2017 were flips – hundreds of thousands of houses each year. From coast to coast and state to state (and in every county in California!), houses are getting flipped, probably just down the street from where you live.

Who’s doing all this flipping? The answer is people like Jake Knight of Skye Homes LLC. He says flipping is the only thing he’s really wanted to do since he got out of high school, when he read Rich Dad, Poor Dad.  It took him a while before he finally got into the business for real, but now he’s been a legit Bay Area House flipper for the past several years. With a background in finance and mortgage lending/underwriting, he takes a keen eye to every project he works on to ensure his ventures are profitable. But more than that, he’s concerned with creating value at every step in the process, including for the sellers of the flip homes he buys.

We had a very wide ranging discussion and covered a lot of hot topics which will be of interest:

  • What makes a house a good flip candidate
  • Finding houses that are good candidates for flipping
  • What kinds of people sell to flippers?
  • The value proposition for home sellers working a flipper
  • Competition in the flipping business
  • Financing flip projects and buying real estate with no money down
  • Determining how much to pay when acquiring a property
  • Pricing Strategy for the Resale
  • Working with REALTORs
  • Determining what materials, appliances, fixtures and such are appropriate
  • Books and web sites useful for flippers
  • How long does it take to flip a home
  • Saving on taxes
  • Real estate flipping in a changing market
  • The importance of networking and where and how to do it in the Bay Area

If you’ve been thinking about getting into flipping, this is certainly an episode you’ll want to tune in to and listen to over again.

Episode 19: Victor Romero Sums Up the Mortgage Business

There are all kinds of reasons why you’d want to know what’s going on in the residential mortgage business, even if you don’t own a home or never plan on doing so.  One of those reasons is because you’d have a good reason to have a chat with Victor Romero, who is as warm, genuine, and driven a guy as you’d ever be lucky to meet.

In any kind of business, there’s all kinds of shenanigans going on.  The U.S. residential mortgage business, in fact, is kind of notorious for shady dealings – so much so in fact that it brought the global economy down to its knees back in 2007/2008.  And it’s just at this time in history that Victor Romero decided it would be a good idea to get into the home loan business, right at the exact moment when conditions in the industry and the economy in general were as bleak as pretty much anyone could recall in living memory.

It turns out though that the time was exactly right for a return to doing business with integrity.  In hindsight, it was the perfect environment for Victor to start his career as a mortgage professional.  His approach to life, and to his business, is one of care, honesty, diligence, and perseverance – and ten years later, it’s really paid off for him.  It’s a classic story of doing well by doing good, set in modern times and in terms that most anyone can relate to.

If you’re wondering what it’s like to be successful in a business where everyone else is closing up shop, and how to prosper through it to the other side, this is an episode you’ll want to hear.  It’s a long one, about an hour and a half, because we had such a great time talking that time got away from us.  But I bet you’ll be drawn in from the first few minutes as Victor tells his story.  I’m sure you’ll love hearing it as much as I did!

VictorDRomero.com – Victor’s Web Site

 

Episode 6: Real Estate Appraisal with Kristina Campbell

In this episode of the Bay to Bay Podcast, we speak with Kristina Campbell, a licensed real estate appraiser who works exclusively in the Santa Cruz County (California) market. It was a wide ranging and engaging discussion, touching on a number of appraisal issues that will be of interest to anyone who is thinking about buying, selling, or refinancing a property. One thing that really shines through in this discussion is that appraisal is an art form – but one that is held to a very high standard by lenders, regulators, courts, and other arms of government. Ever wonder which home upgrades really deliver the most bang for the buck? How you figure out how much your “million dollar view” is actually worth? Then you’ll definitely want to download and listen to this episode of the Bay to Bay Podcast!

Need a residential real estate appraisal in Santa Cruz county? You can reach Kristina via email at coasthomeappraisal@gmail.com, or by phone at (831) 247-7223