Spending $100 Million on Real Estate: Redding California [HouseHack Trip 6]

we had a blast today with Kevin hanging

out with the team looking at properties

all over California he even chauffeured

us back to the to the airport it's 8 12

and we're going to reading we are

leaving Camarillo at 8 12 let's see when

we land we've got a lot of real estate

to look at in reading and then after we

look at real estate multiple different

neighborhoods in Reading we're going to

fly back to Santa Monica to do an

interview in Venice with someone from

Ark invest after that we'll be flying

back to Camarillo and then it'll be beer

time again for now it's coffee time much

better Landing than yesterday guys I

don't know what you did differently it's

9 31 a.m and we've made it to Redding

now remember what our plan is with house

hack phase one is determined which areas

we want to focus in on and which areas

we don't want to focus in on once we

narrow that down then we become experts

within exactly the markets that we want

to dominate within and build as many

relationships as we can so that way if

you're a real estate agent in a

particular area or you've got knowledge

in it hey hit us up Kevin househack.com

tell us about your area right now we're

starting Western United States and in

the future will expand once we've got

our model perfected hopefully within the

next year or two we're getting out over

the Eastern United States but for now

starting with the western United States

reading is up next so let's see what

writing has in store for us now reading

is a town of just under a hundred

thousand people it's above San Francisco

and a Sacramento it's kind of in this uh

Valley in the middle of the upper part

of California you're getting pretty

close to Oregon over here you've got a

median per capita income per individual

head income of about 29 000 so in a

household you count heads that includes

children right that's why it sounds low

and then we're looking at a poverty rate

of 15.1 percent that compares to about

14 and a half in Los Angeles generally

the rule of thumb is stay under 15 this

is right there at that level unless you

get in excess of 20 that's kind of where

you start wondering okay why and some

cities you'll be in excess of 30 but

I'll tell you you look at a city like

Atlantic City Jersey I've got a course

member who makes a killing over there

shout out to him he's a fireman this

guy's amazing 38 poverty rate but the

cash flows out there in real estate 10

plus percent it's a little bit of a

different environment probably not the

kind that we're looking for for a house

hack but hey there are opportunities no

matter where you are so shout out to

that course member anyway now let's go

learn already

what's up man yeah hey pleasure thanks

so much for uh taking the time to show

us around these are huge Lots they are

yeah is that normal and ready yeah

because we're I mean this was 0.8 Acres

exactly yeah majority of the homes uh

especially in this area on the east side

were Incorporated in the 70s and before

that they were mostly agricultural so

they had a lot of developments in homes

exactly or in neighborhoods exactly like

this yeah um that just had larger lots

and that's a good common I guess uh

occurrence here in the writing areas

that typically it's over a quarter or

higher uh most of the quarter acre lots

are going to be um in the newer

subdivisions is like for example the

condition of this we would want to

renovate it over sure but we don't know

if this is like is this a sort of

regular California area where everybody

wants the regular upgrades yeah 100

because you go to Big Bear and it's like

I believe all the wood right okay no in

homes like this it seems like most of

what we're looking for in Reading most

the buyers are looking for something

that's completely renovating and ready

to luxury vinyl plank why

yeah there's like new trends that are

coming in obviously but the majority of

that was just going to sell really

quickly here

um our inventory is extremely low I'm

sure you're seeing that everywhere it's

crazy right but for here it seems like

we have a ton of people looking from

Southern California and out of state to

move in right obviously California has a

huge so you're getting SoCal moving up

here yes we are massive amounts of SoCal

most of my clients are people that are

coming up this way wow who don't live in

the area and any of my listings that are

over 400 000 are typically being sold

out of area so interesting so uh and

then what about listings you're selling

where are those people going uh those

people seem to either be relocating

elsewhere in town or out of state okay

so then that would be like the Florida

Nevada maybe exactly yeah a lot of

people have been liking Oregon and Idaho

as well yeah so you know just a little

bit better tax uh Havens yeah of course

yeah exactly so but it's great though I

mean for what

um for what we have to offer here it

seems like we've been able to sustain um

you know good growth obviously we've had

a little bit of retraction in our

pricing but ultimately things are like

staying pretty steady it seems have you

noticed sort of a pickup in like

December Jan it seems like everybody's

kind of seeing yeah yeah December got

really quiet um and then in January it

was uh you know I think with the fomc

meetings Fed was trying to you know push

rates around a little bit so people were

getting more optimistic maybe it was

going down so buying kind of picked back

up a little bit I see and so I think

still though with uh the rates kind of

staying where they are people are still

kind of being oh let's get back into

let's get in okay yeah okay so that's

where my experience has been at least

most of my clients love getting calls

back in like all right we're ready again

now we're ready okay what happened what

changed yeah yeah exactly

yeah exactly the winner or something so

what would something like this uh rent

for and this is what a four and two

would like two thousand square feet it

is exactly yeah so this would actually

take a premium in my opinion in this

area so you'll be getting close to 3 000

I think you've done a really good job

here uh like I'm talking about it's I

mean just look at the back area yeah

you've got so much of a nice view here

uh but with the lot size and the size of

this home especially being the way that

architecture is it would be really

desirable for a large family or I mean

we've got so many students as well here

that I mean you can get almost 600 per

bedroom yeah yeah do you get a lot of

that we do yeah yeah I mean it's

different in the management uh sure

exactly a lot more yeah yeah and it

seems like the where doesn't even uh

happen as much as when you get a family

in here sometimes interesting yeah sure

yeah it always depends on who you

ultimately get exactly exactly so what

about what's your like main driver of

jobs out here like is there like one

place or is it very diverse it's very

Diversified yeah with uh Koga we had a

whole lot of opportunity from people

that are just like well I'm working now

so where do I where can I go yeah and it

was like well reading was a gas station

stop for a long time really not much

else was going on here boom now we've

got businesses coming in left and right

new restaurants New wow yeah just

industry is kind of flowing in here now

uh whereas before it's been a little bit

of like uh things will go elsewhere go

south or something like that but now

it's just like reading is a place for

opportunity County's place for

opportunity and yeah the city pretty

good Pro growth they are yeah for a

while it was a no stop you know so you

go there and get trying to get approval

for something no no no no we don't want

to do that but now they're very much

more magisterial and they've got the

process going now so it's just it's

awesome fit in the boxes kind of a thing

nice yeah that's awesome okay so now is

would this be like the typical size of

Home you'd be looking at in uh reading

or what what's your median out here is

right in that three two yeah 1400 square

feet or so yeah um yeah perfect for what

y'all were looking for it's just the

inventory is uh kind of hopped on right

now so yeah um yeah when you have a

property like this for instance a lot of

home buyers are going to come in here

and they're going to go oh you know time

on the counter oh yeah the home buyers

like that yeah they're not gonna pitch

but yeah yeah it's it's just one of

those properties that's well positioned

for someone who can come in here has the

capital to make it something that

someone's gonna go oh my God that

neighborhood that house yeah hey by the

way in case you're wondering why I'm

traveling for Real Estate it's to really

become the best expert in all these

various different markets for

househack.com that's my real estate

startup we're currently raising money at

a one-to-one valuation for accredited

investors and if you invest before the

months end and you get some extra bonus

warrants which are kind of like call

options to invest more in the future if

you want to don't have to learn more

about that at the solicitation at

househack.com but come April or May here

in 2023 we should be opening up this

investment round to non-accredited

investors through a reg a which will be

very awesome and we hope you join us in

we'll be raising money at a one-to-one

valuation which means for every dollar

we raise that's the valuation of the

company so for example if we raise 50

million dollars the company is worth 50

million dollars so you're really not

suffering any kind of brand or company

dilution this is really rare when you're

looking at a startup uh so we're super

excited to be able to offer a company

and Investments and shares into the

company at that one-to-one valuation now

once that fundraise closes if our cash

flow projections go the way we're

looking we might not have to raise money

again for quite a while maybe not even

until we IPO at some point in the future

and knock on wood we're really excited

about the prospects for the company so

we'd love to have you aboard on the

journey just go to househack.com to

learn more what about uh sort of um any

big issues that you have in the area you

know you go to certain parts of Texas

you get Foundation issues or anything

crazy out here that you see it regularly

um so in areas like this I don't think

this property uh would qualify for but

some of them would do require flood

insurance things like that but you know

reading it really is pretty

straightforward uh obviously we're not

looking in the rural areas which is

where High fire risk is and that would

be one thing to advise you on okay but

majority of the time in most of the

subdivisions and areas like these

neighborhoods there's really minimal

issues that we've got to look out for do

you have how does it everybody always in

NorCal I feel like they're comparing to

like the fire risk of like paradise sure

sure yeah definitely not as bad as

Paradise obviously we did have the car

fire in 2018 which got pretty crazy but

that really just took out the majority

of the West side and so it wasn't like

um yeah it didn't really affect this

area I actually lived in this area at

that time wow we did get evacuated but

it was one of those kind of like oh my

God if it really does go that way then

it's going to be how many homes did you

guys lose uh we I think lost over uh I

want to see 700 homes out there I mean

it's a good amount yeah the thing about

writing is it didn't really grow up if

you're out yeah and so they had to

incorporate a ton of areas as that

happened and yeah that makes sense that

was that yeah we had the Thomas fired in

Ventura and yeah we lost our Hillside

basically it was a lot but I mean now

they're gorgeous you know now they've

rebuilt them yeah hopefully you guys

have had that reason slowly but surely

yeah it seems like um we don't have the

same Capital Drive that uh other places

like that have so a lot of people are

like okay do I rebuild my home or do I

take the insurance money and go

elsewhere oh so we still have some empty

lots that need to be rebuilt out there

but got it it's getting really pretty

like prettier by the day okay so a lot

of contractors available uh yes but I

think the incentives are not there just

yet oh so yeah and they're they're

starting to pile those on which is nice

getting ready for I think incentivizing

more buyer or more Builders to yeah

Crank It Up sure okay anyways okay so

and you said it's normal to have this

sort of lot size for tenants out here do

they generally maintain uh typically yes

um my management style is I often

actually offer uh having a landscaping

included in whatever built-in rent

prices

um I manage a landscaping team that just

kind of comes through and I think oh so

you you have you have property design

managed personally oh perfect yeah okay

yeah yeah when you all sent me the

information I was like oh great are you

happy management

that's fantastic yeah this is my Niche I

work with uh contractors to find

properties exactly like this or

something perfect yeah I mean yeah

because hey this is this is pretty basic

pretty easy there's nothing scary in

here no this was 82 right so you even

post this past this yeah supposedly yeah

they were still selling it that don't

scratch the walls too yeah yeah just

just don't test it yeah

uh do you get a lot of additions

do you get a lot of additions in uh in

reading or or

um or do people just buy something else

um people do chip so they buy something

else yeah okay I mean we're seeing a lot

more adus in like uh inline units built

that was what you ask additions yeah so

so either 80s or even just like oh I

want to add a bedroom or whatever and

get more square footage yeah yeah we try

to stay away from that because it's a

little for sure harder to have a

consistent sort of understanding of what

the comps are right yeah most people try

to convert their garages around here

okay so yeah so look very California the

Ada yeah exactly yeah and the city's

okay but they're pretty they have a

process uh junior Adu process that they

um kind of comply with most people you

know some of the properties I selected

that had converted garages that looked

very unpermitted so we tried to avoid

those right sure um but yeah most of

them do go through that Junior process

that makes sense okay

um gotta love the carpet right yeah I

love the carpet in the bathroom I mean

everything about this like screams a

buyer doesn't want it but it's just

basic Cosmetics it is uh really is I

mean this is all you know tiled you

could easily glaze this put a new door

on yeah look 10 times better right yeah

you've got a 40 year roof on here as

well with another like 20 plus years on

it so do you do that often out here is

it I didn't look at it yeah copper is

typically about 50 years on them okay

yeah they're a plus fire rated so

they've you know got a lot of going

you're not doing a lot of comp shingle

out here uh they are the newer uh the

newer construction is and then any roof

Replacements typically are a new comp

shot gotcha okay okay wow I don't think

I've seen flower lights before I've seen

a lot of lights yeah it's pretty cute

though right yeah you step into the 70s

here yeah it really is yeah they took

the 70s right into what 82 I think this

was yeah but it's definitely 70s Style

but you even saw that in like early

2000s in the early 2000s home it's like

nice 90s style exactly I know right in

some homes I'm like they're like

recently renovated I'm like well that's

not true did you copy that listing

description from 20 years ago exactly

yeah renovated in the 90s I guess that's

somewhat recent yeah for some of these

people for sure

let's take a peek outside

yeah let's get a slider uh is actually

locked up oh yeah okay uh do you get a

lot of like with chickens and animals

and stuff yeah not in these

neighborhoods though um most these

neighborhoods they don't have anything

like that okay larger Lots yes but um

yeah not many people trying to raise

chickens or stuff like that oh you and

you have horse property here too I mean

so this one does back up directly to

horse properties so down below is this

Churn Creek over here and uh yeah this

is just uh like I said majority of the

years ago was it's very quiet yeah yeah

more majority of the area was uh Square

uh shoot I can't say that word all of a

sudden that's all right uh yeah anyways

agricultural rule

yeah and so this is normal you say this

lot size you know like for this area for

sure do you have tracts that uh that are

smaller lot sizes and do people like

those out here or are people in reading

for the land people like the land in

Reading I think most people when they're

looking at NorCal are kind of thinking

to themselves will it be nice to spread

out a little bit you know but the

majority I I see there's going to be

like half an acre or less

um and like I said most of the newer

properties have uh you said half an acre

or less is the normal yes yeah yeah

typically just over a quarter acre it

seems like okay yeah I mean this this is

gorgeous yeah I mean it's SoCal you're

seven thousand square feet usually you

know yeah exactly yeah most of your uh

criteria I was like well that would be

easier if we were South yeah yeah yeah

yeah that's about here it's like yeah

you got to find a lot wow or you're

going to find a lot I guess I should say

all right this is awesome you got the

stream down here you don't have to pay

to maintain it no not at all yeah they

got it for you but yeah man when I first

moved here I like to off-road I built

jeeps and stuff like that that's right

it's a lot of fun stuff there's so many

cool trails to go on out here this is so

peaceful yeah one of one day though we

got ourselves into this River and we

drove up about like two miles of this

River because it's very shallow and it's

loud

we had neighbors out here yelling at us

it was kind of a situation anyway that's

awesome a long time ago but yeah this

obviously at some point we'll just kind

of keep eroding but I think you got

enough so it's probably not that big of

a deal absolutely yeah you can see

nobody's got a retaining wall nobody

does nobody okay so it's not that big of

a deal yeah you've got I mean this is

easily a 40 grade yes but majority of

the time here in California when you

have a nice amount of growth like this

it's going to be retaining that Hillside

pretty well

um

yeah that's a good point because you've

got more moisture here you're less dry

yeah we really don't have very many

landslides or anything like that that's

a majority of the time taking place out

west of us

I'm gonna write how peaceful this is

this is this is awesome this is really

nice

yeah this is incredible

it's just a very different

from it was different from just where I

live what I'm used to every day right

but I like this like I just want to sit

here and we should research right here

yeah well see that's what people really

come to reading for I think they step

into our area and they realize

coming in bustling like it is you know I

told McKay I was like I feel calm

exactly I'm gonna live longer I hope so

right you know I told me Kayla you can

get anywhere in town within 10 minutes

you know so it's like coming here you're

gonna feel like oh this is peace while

I'm at home and then boom I'm gonna go

to Costco or whatever it's a brand new

Costco just down the road less than five

minutes from here uh what else are they

building out here that's newish um

literally off one of these roads that

you guys would have come in on there's

multiple new tracks that are being built

right now really yes oh wow so um I

think there's maybe four uh new

subdivisions just uh less than a mile

from us here oh my gosh yeah oh wow yeah

so I'm just looking here just on the

other side of the creek what is this

um three and two yeah is that a decent

area yeah you'll see it's got a 3K

exactly yeah so you'll see that one's

been uh tuned up a little bit and this

is a little smallest what would that

sell for if it were in this shape like

uh would that sell for me if it was in

this shape that's a good question market

value I wouldn't suggest probably 450 is

probably where that one would sell with

the list price on that one is right now

but that's right that's interesting and

where's that new construction new

construction so where are we here I'll

go to Maps yeah and then um do they have

a sales office as well I don't I don't

want to buy a new no no I understand yes

typically their sales offices are

actually on like in one of their sale

one of their subdivisions yeah exactly

find the agents doing their own office

hours in there all right so right off of

Rancho Road is like one of those uh

older uh roads in town that recently got

Incorporated in the 70s right so there's

new um subdivisions being built off of

it I think there's two right now that

are on this road right here are those

open do you know uh yes yeah we can

easily drive into those there's another

new subdivision that's being built off

of Shasta view right here okay lots of

new homes coming in in this area back

here okay uh and then a majority of our

newer neighborhoods it seems like you're

getting built off of uh airport road

towards the airport oh yeah so in my

opinion there's three different areas

that readings like rapidly expanding in

right now downtown Southeast where we

are right here okay so we have downtown

is one of them Southeast is in the other

one and this other area right over here

is the Northeast side of running those

three spaces are growing rapidly right

wow we had the city investing heavily we

have private businesses churches

colleges all sorts of things I imagine

does the Northeast closer to downtown

pay itself for a little bit of a premium

a little bit but that would require

certain neighborhoods because the way

reading is it's very mixed uh but yes in

my opinion you would but in this area

specifically you'll have a huge rent

premiums because we're really close to

schools really close to like brand new

Costco lots of people are down here

wanting to get the larger lot maybe here

exactly exactly okay got it and then how

is it by the hospital over here in

downtown I guess yes yeah I love

downtown I own multiple properties in

the downtown area It's actually an

opportunity zone so for investors

downtown is not the green zone so that's

incredible yeah they just expanded it

multiple blocks as well so

um this is my favorite area of downtown

oops sorry let's go that's right a

little bit over here yep so this is my

favorite area downtown so you have

Turtle Bay and stuff like that and then

this is some of the older neighborhoods

right 50s 60s 70s built um but they're

uh just amazing wow really cool this

whole area like I said getting developed

and grown we uh yeah there's just so

much opportunity here for for growth and

uh it's happening and so uh yeah no

kidding what is um so if you go downtown

obviously smaller lot downtown yeah much

smaller Lots typically about a quarter

acre or less okay

and so it we go over it where in which

areas where oh gosh

still is funky yeah right here so you

see there's really nothing for sale

right downtown right now there was one

property on South Street I was

interested in showing you guys yeah

um oh three and threes in one so like

the 1940s exactly okay exactly yeah but

some of them have two bedrooms uh but

you'll it's rare to find a four bedroom

down there that doesn't have like you

said a weird floor plan or conversion

yeah yeah of course yeah okay so that's

one of those remodeled homes down there

yeah okay got it and then uh Turtle Bay

uh what's that Turtle Bay is a great

area it's uh more it doesn't have very

many uh homes and subdivisions uh active

in it right now but Market Street area

just right on the other side of Turtle

Bay these are some of the old uh some

other similar older neighborhoods uh and

then right over here off of which is

called Lake reading these are brand new

builds oh wow over in the past like 20

years oh so like early 2000s maybe or

whatever and then also up here oh that's

awesome yeah yeah this is three and two

this is like right along our sides yes

this is one of the ones I did want to

show y'all it looks great with the

carpet and everything exactly yeah

uh yeah I would love to see that yeah I

don't know if it's not on our showing

list and I'm not sure where we're at

well you obviously you guys have a 1015

out so 10 15. I don't know when are we

leaving

and then so we can still do that it's a

great property right down the road okay

um let's go check out the next Suite

oh yeah yeah with the car videos yeah

the carpet right you gotta keep that

yeah I love it oh okay okay 11. okay

okay all right we're good

okay time guy is that what I heard

um

I think so yeah that's oh that's a good

observation I haven't thought about that

is there just one main hospital out here

no actually we have two uh Maine

hospitals and then a brand new uh

medical uh development going in off of

um uh is that uh West Side then yeah

yeah partial website we'll be on um

we'll be the last two houses that we'll

see are in that newer or in that area

okay great well that's exciting it was a

portal to the past it was like a little

time machine it was so cool so do you

think of the age in the area of the

house ages agent's awesome

um Mikey mentions that there might be

less of a youth draw out here it's

interesting because they got they got a

soccer field Mikey there's nobody on it

well we always need Bears yeah

I I don't know so I'm not I'm not

unconvinced like I actually so far I

really like this uh obviously we've

stopped at one property so far but I

could see the Allure to some of these

larger properties and uh the the cash

flows are higher in Reading usually when

you get higher cash flow you also get

higher risk and there's usually a reason

so I haven't quite identified that yet

now Mikey suggests that might be because

of a lack of Youth and maybe sort of

older money and one of the things that

does concern me is if it if it used to

be a gas station stop then is it kind of

like Barstow where it's kind of like you

know you don't go to Barstow to live

there you go to Barstow to well get gas

charge your Tesla as you're going to

Vegas exactly right so you live in LA or

you visit and you visit Vegas uh you

know I don't know if this is just that

then then it makes you wonder well what

kind of jobs could be here now uh

apparently we're going to an area with

some newer medical development which

will be really interesting uh if only we

had somebody with some like medical

experience who could tell us about the

area is

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and uh Hey thank you so much for

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pleasure yeah thank you so much hey

thank you yeah so far I like this this

is actually this is interesting this is

probably like an early 80s neighborhood

I haven't looked but what you see with

these older concrete style roofs The

Valleys there they always have water

intrusion issues and leaks because

they're so close together so you have to

kind of saw them down and open The

Valleys a little bit you get leaves in

there and then they the water pools up

and leaks it's not a big deal but I mean

the newer the better I like like the

last one was 82.

um it was nice because you're dealing

with less problems less structural

problems you know systems so this looks

right 89 here okay I like the neighbor

pretty remodeled there and dual pane

windows over there yeah majority of

these others have nice stucco exteriors

and tile roofs yeah that's nice so uh

what

um do you get a lot more retirees or

younger Children and Families everything

everything right now so a majority of

our uh people were retirees for a really

long time

um so that was sort of the reputation

exactly yeah really really was now big

portion is newer younger families coming

in uh looking to relocate for lower cost

of living and you know obviously just

wanting to have a little bit more to

their name it seems like work from home

as well okay all right you never know

yeah yeah exactly

okay the good old mirror to make the

house look bigger trick yeah yeah ten

times bigger

this is okay yeah this is this is pretty

cool I mean this is pretty consistent I

mean this almost looks like a pinkish

tile but I think it's just off-white

that looks pink because of the light but

I mean this this is so easy right I mean

it's just the same story we talk about

every time countertops sink cabinets

knobs put some can lights in re-floor

the place how do you take care of

countertops like

no I'm just kidding no no you just rip

it out and you put in a stone countertop

yeah yeah it'll last you a lot longer

get a neutral cuddler it'll last you 10

years and it's great uh you know you can

throw on new hinges and hardware and

you're done I mean that's that's the

easy part the switches the outlets and

all that put some new bigger baseboards

see this is an old like 80 stuff it's

two inches you know you get a nice three

and a half inch baseboard on there so

much nicer obviously The Four's got to

go I mean this is this is great like

this is the cheapest stuff like the

nastier the carpet the better right

personally I'm generally a fan of

painting the fireplaces but people get

mad at me when I say that they know I

want the brick uh see look holes in the

wall I mean this this is what I like

like I get excited I I get really

excited when I see the holes in the wall

I I love it hey look they tried

spackling let's see this is what a

tenant tries to fix holes for you they

make it worse

so this was probably a rental but uh

yeah I mean this is easy hey you might

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advantage of the flash sale so we got

almost like that office s unit over

there garage and laundry here so you

actually get indoor laundry already in

the 80s which is nice it's a typical

three and two oh yeah you got the flower

over here I mean this see this is my

favorite when you get like rust oh I

love it the rusty uh sink you've got the

screws that are nasty and old uh you've

got the toilet looks you know nasty and

crusty it's fantastic now the only thing

missing here would be some like mildew

but there are no seams on this

fiberglass enclosure which actually this

enclosure is fantastic I would keep this

and I would just glaze it white but uh

oftentimes you get sort of like the mold

and the edges which again no seam here

so you don't that would just make it

even better uh but it's already good

enough but I mean I know just being an

89 property this is going to have copper

plumbing uh I'd prefer to open this up

and see some damage but you probably

won't except what do we have here

oh no I thought I saw rat droppings for

a moment but you know uh but yeah I mean

it's all like the plumbing and

electrical there's there's nothing to

worry about from an 89 home so if

somebody cosmetically ruins it it

creates plenty of opportunities for

somebody to just clean it up and make it

nice again new ceiling fans paint blinds

you're done this is easy

easy piece you see the carpet in here

right just replace all this with luxury

vinyl plank simple

like to keep it simple

uh

so a little bit of a oh this one has a

seam that's interesting and they just it

looks like they just recaulked darn

see those are the cheap things you want

to take you want to take the you know

299 bottle of Caulking and and uh 20 of

Labor you know an hour of uh scraping

out the old stuff and putting it new I

love it you get you know the the air

blowing out creating the dirt around the

uh the vent you've got the see this is

more expensive this I don't like right

once you get the delamination of dual

pane windows uh in this case a slider

great now on a slider is going to cost

me 1500 bucks to replace I mean you

don't have to do it but at some point

it's kind of like you don't want to be a

slumlord either right so it's lost at

seal it looks funky uh you know it'd be

interesting to see how it evaporates

throughout the day I probably not but um

anyway so

yeah what is this four panel doors cool

cute replace some Hardware

oh that's nice they added a bunch of

shelving in here that's was not built

like that

I would not guess

but it looks very nice uh and then I

don't know if they would have finished

the garage over listen but this is how

you know they've never repainted which

is great it's my favorite oh yeah look

you had a finished garage too that's

fantastic see you know how wonderful

this would look

if you just Prime this an epoxy painted

this oh McKay's dying uh we're losing

our Mormon it's too stinky for him

I'll get you a Diet Coke it's on me this

time okay I put you through suffering

yeah all right yesterday was on you

today it's on me

um all right

so I mean wedge Court what are you

giving this so pricing agnostic because

we don't really care about pricing right

now because we're waiting for the market

to come down but but yeah I mean this is

this is easy this I mean this doesn't

need more than like 20K worth of work I

mean it's nominal it's it's literally

your definition of paint and carpet you

know which includes like light fixtures

and so when we look at this I don't even

think I've seen a high lacquer red uh uh

ceiling fan with gold and Brass uh it's

perfect I love it this this is this is

paint it paint it all right I mean what

people are doing now is they're also

doing the the dirty kind of wash uh

where you you

uh you basically put on you you try to

make it look like it's like a faded

white uh and uh that's a big thing right

now faded white faded Grays so it

depends what color theme you want to go

for but but you want to brighten this

place up some people love this every

time I say that in a video I get you

know 10 of people like oh could you do

that to the paint and I'm like you're

not a landlord all right let's go to the

next one I think I swear I think this is

Pink

it looks so pink it's it's just it's an

off-white but I swear it looks pink it's

and I love the mini blinds this is like

we're at the motel six it's perfect this

is perfect this is literally the

definition of perfect if you look at

this uh in here yeah just throw in a few

can lights here and clutch where did uh

Ben go Ben this is this kind of thing is

perfect what's that existed for uh we're

listed here at uh 319 319. wow and what

would this rent for 2400 in my opinion

oh yeah oh my gosh yeah our I mean

numbers wise that's awesome agreed

that's awesome so uh what's this thing

worth fixed up in the neighborhood right

now you know I'm looking at this

property after it's fixed up in the 400

range um I would think maybe even a

little bit higher with just a little bit

of appreciation yeah yeah sure sure yeah

I mean this is this is exactly I mean it

could even be a little bit worse

condition wise but this is the kind of

stuff where cash offer come in a little

bit lower if it's been sitting on the

market if it's new and hot yeah Six Days

on the market here so six days so so

this will sell pretty quickly if it

hasn't already uh but um but yeah stuff

like this is easy agree absolutely yeah

like what we would even do worse you

know in terms of condition wise but but

this is great now another thing to know

is that house not that bad and one of

the downsides is when the homes aren't

that bad they're not too scary and if a

regular home buyer goes in and goes oh I

could just do paint and carpet it's

harder to get a large wedge you can get

a little one and it's great for a home

buyer first time home buyers should be

buying that all day long in fact that's

what I used to sell a lot of my clients

as first-time home buyers they'd come to

me they'd want you know things a certain

way I'd say well just find something I

need to paint and carpet that's the

definition of that and then I'd help

them hey here are my vendors here's how

you should do this that whatever uh it

probably doesn't have enough damage to

be enough of a deal now if that's sat on

the market then either the market is

rotating down or you have a lack of

buyers or or maybe you have the

potential to send in a lower offer but

for something like that I I you know

every every single property before we

would buy it we're going to look to make

sure it meets our criteria can we get a

wedge after fix up of between 80 to 120

000 if we can't we won't buy it and so

that's where a lot of our deals are

probably going to come to us uh either

pre-market or off Market uh so we'll see

you know there's a lot of uh hunting and

work to do uh it ain't easy to make lots

of money in real estate but I actually

think it's pretty easy for everybody to

make a good amount of money so a lot of

more like one bath basically yes yeah

this one is a one bathroom

um I believe the one on Leighton that

we're going to right after this which is

just down the road is a two bathroom got

it I like it it's a seller offering a

twenty thousand dollar credit make this

your home today yeah that's generally it

doesn't work with Buyers like sellers

like to think that they can just go oh

well here I'll just give you 10 grand go

do the paint and carpet it never works

that way uh like you end up losing so

much value agreed and you sit on the

market forever and it's nonsense yeah

being the listing agent you're like I'm

telling you we got to do this yeah yeah

so this was the rental as well for uh

for quite a while yeah

yeah so this this is going to be a

four and one is going to be a little

tougher on the longevity probably the

tenants but you actually have the 1950s

hardwood floor here uh very interesting

that they deadbolted this so what they

did is they rented out rooms I mean this

is a front door that's in here you know

a little funky this is uh if the

neighborhood is more broadly like this

probably not like super jazzed uh you

know when you have more funky rental

things going on this looks like a

retrofit dual paid window that they

threw in that's why they've got the

larger trim around here see sort of the

retrofit elements of it uh wow see and

sometimes they they get so like where

everything you look at is just damaged

right and that's the other thing that's

sometimes annoying the door is damaged

the floor is damaged the toilet's

damaged this is damaged uh the tub is

damaged and chipped in multiple places

like there's old and well taken care of

like uh old is uh and like the systems

are well taken care of so they did the

plumbing they didn't the electrical they

did the roof so there's well taken care

of and then there's just beat up this

feels beat up this is a little more I

don't even know what the hell that is is

that that's how they want to get into

their attic access I've never seen them

before that is very bizarre I I

okay whatever yeah

wow yeah I mean it's fine I've dealt

with plenty of these oh we got mold

though that's fantastic

hey but at least they're offering a 20.

oh look at it it's turning fuzzy

the mold is fuzzing the best kind there

is yeah okay I kind of want to pet it

yeah so you got an active water like I

mean now that actually is perfect uh so

so now I take that because so

they're levels there's a fixer-upper

that just needs basic Cosmetics you go

in then you could go into something like

this that is mold get a fantastic

massive discount potentially and then

just price in the fact that you have to

do the roof you probably say in the fact

that you still have the ungrounded

electrical outlets right you can see the

uh two wire uh Outlet over here you

price in that you have to replace all

the doors now the problem is it's going

to take more effort right so that's

something to keep in mind as well is uh

old old single pane painted uh okay it's

just coax sometimes you walk out and the

power line to the house is right in your

face but uh yeah this is this is

something where you look and you say it

needs

everything almost I mean it has the dual

paint windows but the problem is I wish

it didn't have the Dual pane windows

because I don't trust this owner the

owner who did the work here I don't

think did any work well I think it was

how cheap can I do it and so I would

expect the windows weren't necessarily

done that well so I get skeptical about

things like that I mean we know it's an

a two-wire system already so they added

an outlet over here so they threw in an

ivory outlet look at that it's a new box

but a janky Outlet like what why what's

the point of that I don't know sometimes

people do funky things in real estate

and uh yeah I mean even look at the

stucco patch this is terrible uh this

like I you just know right away when a

house has been abused and this is just

an example of how cheap can I throw in a

new window for the bathroom oh let's

just throw up some you know janky stucco

oh it's on the side of the house nobody

will see it anywhere but the problem is

it ends up having that uniform like out

throughout the entire house you end up

seeing janky stucco here so you've got

what looks like probably is a gen he

stucco patch over here the trim for the

properties crap I mean they don't even

give a crap about the foundation of the

property it costs ten dollars to put and

it rains up here right unlike SoCal it

costs 10 bucks to put the little uh um

offshoot gutter offshoot or whatever

over here right so this is somebody who

really beat up the property uh which is

great I mean sometimes that creates

opportunities but I just wouldn't

somebody who owns this I wouldn't trust

a single renovation item that they did

which is fine it just gets reflected in

the price uh if they screw up on one

thing they screw up on everything in my

opinion uh I mean this is just

disgusting like you can tell there's

zero shits given on this property which

again just reflected on the price but

wow wow

this this I think Takes the Cake

[Laughter]

if you saw this home in like a really

nice neighborhood yeah oh yeah that's

the other thing is like this is the kind

of level of repair you might get in the

particular neighborhood if the entire

neighborhood's like that then of course

the landlord doesn't care but I don't

want to be in that neighborhood some

teachers you might like

convenience

hey just in case you need to switch

look at that good catch man yeah I mean

this is just changed I noticed the

breaker

yeah and the guess is that this was a

garage that was converted who said this

well this is what this is what we're

believing oh because there's no garage

in this unit oh

wait there's no garage here the breakers

are by the front door yeah and this is

where the driveway ends yeah yeah it

makes sense

well probably because this was so broken

and they had a Remnant piece of

countertop they're like let's just put

it in that property over there on C

Street you know I mean I don't know this

is what oh here's the garage

this was the garage

probably all of it yeah I like the

drywall that has fallen off the wall is

molding

um so yeah this this was the garage I

think but how would you get here maybe

that was a carport and then this was the

back of the garage so they added this on

you got the rat traps over here

uh all the insulations molding over here

look every part of this property

everything you look at there's not a

single thing that's upgraded in here

everything all the rafters are rotted

away this means a lot and and at some

point when you have to spend so much

money to renovate it just doesn't make

sense anymore because uh you know now

you're stuck instead of this being a 45

Day project it's a 100-day project so

you're spending more time uh that's

super wobbly so you're wasting more time

and uh

not getting as much sort of upside

all right next yes yeah let's do it

these days with concrete prices are

probably eight to ten Grand just for a

little short driveway over here

but but the other problem is you have a

lot of that in the neighborhood right

you have

gravel and some concrete over here

asphalt over there asphalt asphalt

uh you know you've got what that house

almost looks abandoned over there

usually we look for like the worst house

on the best street this is like a bad

house on a not Grand Street yeah yeah

oh and see that hole outside there is an

add-on they added that whole three feet

on so they extended what looked like

three rooms basically one of those could

be like the kitchen room or whatever but

you could see based on the roof over

there that lower pitched roof that by

the way is what boxable is trying to say

is that oh our roof comes flat but to

get it permitted you need to have a

little bit of a pitch to it so somebody

else has to come build a roof on top of

the flat roof of the boxable uh that's

basically it exactly sorry how much to

fix this thing up it's and as small as

it is it's it's a lot because it's just

everything it's um it's the doors it's

probably the windows it's updating the

electricals

yeah let's ask about this rivian hey how

you had a Tesla and you still have a

Tesla I do and now you're a rivian to

try it out or no are you a traitor you

know like uh yeah I know right yeah I

was like I was like I wonder if Kevin's

got an offer for me you know um no

absolutely love rivian just following

what RJ scarnich has been doing for like

since 2012 honestly I I thought it was

really cool that they were going to try

to do a sports car when they first made

their announce their thing but the fact

that they jumped into actually doing

off-road vehicles or trucks yeah I was

like oh man this is like a huge win for

me how is it it's so much fun you want a

little tour yeah absolutely yeah so it's

so much fun to drive and it uh I mean

Beyond just being like an electric

vehicle amazing yeah Beyond just being

an electric vehicle it has like so many

different fun bells and whistles

features stuff like that

um so that seat looks sick it's like a

Master Chief's truck yeah right exercise

wow so super roomy awesome you know I'm

sure you're familiar with all like the

fun little uh features that they have to

offer like the gear tunnels and stuff

like that it's got an onboard air

compressor perfect is this for for

signage that is the perfect oh yeah yeah

just throw my sign look at the trunk

rolling back that's supposed to be what

the Cyber truck does but I don't think

that's ever coming we'll find out I

guess yeah I got one of those on order

too and uh we'll play that one's

probably one we'll just play with sure

so so now do you have FSD on your Tesla

um yes I do yeah but this is the work

truck man yeah this is great it is yeah

I'm just in a tailgate piece here

actually because of that all right so uh

but yeah no this truck is phenomenal I

take it off-roading a lot um and it just

handles it so you know there's four

Motors one in each wheel right so it has

like everything you need power wise to

get going yeah this is Hardcore I store

all my tools in here so it's very secure

and I've got the front as well I'm sure

everyone loves to see the frogs sure um

and that one's got a bunch of my tools

in it as well thank you

a little more knee bent

whoa catch it oh that's nice full tools

but wow the lights look awesome I love

them I mean the design on it you have to

give it to them this is a nice Design

This Barn it actually goes in another uh

10 inches below this right here I've got

more tools hiding under that that's

where the shotguns go yeah yeah yeah

yeah no officer I have no weapons

that's nice yeah man it's been fun I um

shoot you know the full like it doesn't

have full self driving like this let's

do right this is good yeah and even when

we did have the the our only wardrobe I

was driving my Tesla full time it was it

was nice but rolling up in something

like this is just like people are

turning heads and yeah they want to talk

to you about it as I think as an agent

and a work truck right now this is

awesome yeah and you know hey maybe when

cyber truck comes out that's the new

thing but for right now this is great as

an agent the utility of this yeah so my

first car as an agent was a Prius I I uh

installed a tow hitch and then towed

around a little four by six to put my

signs there you go yeah I would much

rather this I know right I was driving

like a little four-banger Jeep for a

long time just cruising around and then

you know as real estate goes you start

stepping it up of course and looking for

good opportunities and this is one of

those ones but why this oh my gosh this

almost looks just like a Tesla yeah and

the whole like uh actual display the the

UI is really smooth I haven't had any

real issues with it uh yeah literally

right around the corner so I can pop

around if you want

um but yeah it's it's just a great truck

a wood trim here yeah you'll notice that

little badge right there launch edition

so this truck is like one of four

thousand um they only made them four

thousand I think units in this color

scheme and that's all of here yeah only

four thousand what number are you I need

to look at the van I think I'm like

three something okay okay yeah I didn't

get a low low number man it's a

disadvantage this is very nice yeah so

really really smooth so literally this

is late oh wow okay so okay yeah that's

fine that's cool I was like I can go for

a little time this is down the road I'm

impressed I wasn't expecting this now

they they're putting a lot of money and

effort into this I think so you're doing

a really good job using their War chest

well is how I was thinking about it

because yeah the amount of like research

that goes into just getting some of

these little tactile things uh you know

set up and actually the quality control

as well has been huge so man I don't

really have any complaints coming from

only Teslas you know you've got all

those little nuances there's always

something that's here too but I mean

every car has that I mean even like the

Lucid had

um has a little stitching that goes

around over here but you see the

reflection in the window because it's

like white on black okay and so you get

the reflection and it's kind of annoying

because it's always there where you're

looking yeah it's those little things

that every car ends up having I know

right but I mean at first glance this is

awesome good job man yeah this is good

all right these must be sensors but they

look like usbc's but they're not

um they are you I don't know no they're

not there are usbc's in the back of each

headrest though and in the headrest in

the headrest and inside of this console

right here wow so anything back and it

has full access very impressive yeah and

then you've got the glass ceiling and

everything uh and they've got the

speakers up top yeah the sound system is

absolutely tremendous like this Heats

are nice yeah I feel like I'm in like a

warthog from Halo yeah that's right

you know even if you get a cyber truck

man you got to keep this thing I think

this is nice yeah thank you of course so

excited to hear about your lending

business can you tell the world about

what you do and why people should reach

out to your company yeah absolutely so

it's Jason Gray With New American

Funding doing mortgages for 29 years

great company I work for based out of

California but we land in every state

other than New York and Hawaii yeah if

you have any questions about mortgage

needs feel free to reach out to me give

me a call so it doesn't just have to be

local it could be any of the 48 states

that you didn't mention that's right

absolutely yeah I mean if you have any

questions just reach out to me we have

an interstate lending division team that

I can introduce you to and they'll take

care of it from there and you mentioned

the popular loan right now is the 2-1

buy down buy the two one buy down he'll

negotiate that with the sellers so some

really cool options going on in lending

right now and you want to get the latest

how do they reach out to you again yeah

just give me a call area code

425-260-3482 talk to you soon awesome

this is the same neighborhood yeah yeah

literally we went maybe three houses

down yeah okay okay so yeah it's a very

similar layout um a little bit better

shape if you will looks like the seller

um tried to do some newer Carpeting and

uh newer you know very cheap uh vinyl

flooring but it's it's 99 Florida yeah

but can we still say that with the

inflation yeah do you think

these aren't required so it was pretty

rainy a few days ago Ah that's why okay

so I mean like okay we've got the ten

dollar boob lights which come in like a

two pack for 20. we've got the basic

carpet you know I always think it's

funny like you get the Outlet's not even

flush with the wall but uh they and they

left the original ceiling fan so this is

kind of like your basic flip to compare

to this is what the other one could look

like this is the same exact floor plan

except it doesn't have the foot switch

that the other one has but we're gonna

have to deal with that you got the wall

heater uh you got the kitchen so this is

where I think they went funky with the

garage on the other one yeah so what

does this one have so this it's not

really a garage here but it looks like

the water heater is pretty much at the

end of its life but that's okay so

you've got essentially the laundry room

do you guys have gas out here

I see a lot of electric but these wall

heaters are usually gas I'm sure they do

you have gas out here natural gas yeah

yeah okay okay so I saw the 220 for the

dryer there but we got gas here oh we

got two wall heaters so these give again

gives you a contrast of what this could

be uh oh okay this is what it was it's

like uh uh the Whole House Fan is what

it is to try to cool down like suck out

hot air on hot days and blow it out uh

yeah I mean this is obviously we

wouldn't buy something that's already

done this is a very basic remod you can

see the baseboard over here for example

was nailed in but it wasn't cocked uh so

this is gonna look pretty gross pretty

quickly after some showering you still

got some chips and divots over here

that's okay uh you know I mean like I

obviously would would want to uh up the

quality uh quite a bit but uh you know

it's okay I mean it's clean it's moving

ready we I bet you the outlets are still

ungrounded I doubt they rewired it but

that's something I'd be looking for but

you know that from age so I don't even

have to be in a property to tell you

what the problems are going to be you

look at the age and you start getting

used to what the problem is going to be

but I can tell you this is like a matte

paint they used on the door it's not

flat because there's a tiny little bit

of Sheen but that's going to turn black

pretty fast because a lot of people they

touch the door when they go close it the

trick is in your own home always use the

handle you know you go into your room or

you close it like this it just gets

dirty very fast you can actually see all

of the fingerprints kind of already here

and they just painted that and I promise

you that wasn't me my hands are clean

yeah so this is uh yeah basically

exactly the same thing it this is really

what we would call the blow and go for

Real Estate blow and go is kind of like

hey we don't really need to fix the the

patches on the wall we'll just kind of

uh uh you know blow the paint and go on

to the next job you can actually see

that with the ceiling fan over here huh

you have that nice gap between the

ceiling fan and the ceiling but uh okay

that uh yeah they've got nice dual paint

windows so they did at least it looks

like they did uh some nice work on uh on

the Windows whether they did that or

someone right before them yeah yeah this

would be a weird you know property owner

who knows kind of like all right I want

to hit no enough yeah exactly I want to

hit a very specific rental Target and

you know make it at least appealable to

you know who's looking yeah and it's

possible that just it seems like in this

neighborhood maybe you wouldn't

necessarily want to go much more

expensive or something you won't it's a

great assessment yeah what would this

rent for

um this property like in its current

condition yeah yeah okay so in its

current condition I would assess that

this property would rent somewhere

around 14 to 1500 okay um yeah fixed up

though a little bit nicer you could

definitely get closer to 18 or 19. okay

so if we let's say you go with 14 1500

this thing's going for 265 remodeled

okay okay uh and and just uh and just uh

they just dropped it ten thousand bucks

so uh and you said 15 14 1500 exactly so

I mean even if you got something like

this for 225 you're getting 14 1500 rent

that's not terrible no been I'm working

for 131 days so hey get some room yeah

one of the things you'll see here that

probably is detracting a lot of people

is the quality of the the little

Renovations you know not that big of a

deal for most people that are looking in

the area this is gonna if it was just

priced maybe like about 20 30 less they

probably already being they're just

overpriced exactly yeah exactly yeah

because this is where a first-time

homebuyer would be really happy you know

they've got yard and whatever else they

want to do but

um yeah so I but this this neighborhood

compared to like the other neighborhoods

we were in it's a totally different tent

totally different yeah yeah you've got a

lot more uh younger families in this

area obviously you have a little bit of

mixed uh multi-family here too

um so but yeah these this is just kind

of how the neighborhoods in Reading go

if you aren't in an actual you know

named subdivision you're gonna have this

kind of mixed uh mixed stuff and and

this was a tracked back in the day

because we have a B and C Street here uh

um you know so some of those uh first

home our first homes that were being

built this apartment building like a two

in one what would that typically go for

out here just a single unit yeah like

100 a door kind of thing or um 150. no

so actually something like that I think

that's a fourplex would probably be

priced in the 500 range okay okay so

you're getting 120 issuadorish okay okay

that makes sense great uh we should

shout you out let's do that out here uh

so we we want to know your phone number

shout your name out website whatever you

want okay and um

yeah this is awesome so I think you also

have a pretty good idea of uh you know

honestly I would I feel like I would

have gotten rid of this fence and

cleaned the front up and I I know it's

been on the market for six months so

maybe it was nice but you can get rid of

that I wouldn't even kept yeah what

you're seeing right here is like the

reading typical homeowner who's trying

to sell their home as it's been a rental

yeah yeah yeah so we were talking about

how do you do the landscaping and stuff

like that what I realized when I came to

town is that most property managers are

doing the bare minimum out here yeah and

so when I needed to step above it was

offering some of those little finer

features and ultimately what I realized

is that just actually can one makes my

name look better because I'm managing a

property that actually looks nice the

neighborhood likes it but two my clients

or at least my my renters are so much

more appreciative yeah they want to stay

exactly they're like wow no this is

perfect I don't have to do much I'm well

taken care of so exactly yeah but not

everyone has that Vision or that mindset

so it just is what it is I mean so far I

like this what my thinking is we'll

probably be uh within the next two or

three months we'll be back up here and

we'd probably go look at some more

neighborhood with you yeah I'm thinking

maybe we see even like closer to the

hospital area as well and then maybe

revisit more of that first area sure uh

I'm not particularly convinced on on

like the four and one this particular

absolutely I understand so but it's good

to see that yeah so thank you for that

absolutely uh but yeah this this is

awesome thank you thank you so much so

shout yourself out who are you yeah

number everything cool yeah my name is

Benjamin Jennings you can find me on

most social medias it's been.realtor um

my website norcaliving.org and uh phone

number is

530-656-8282 I manage and uh sell mostly

uh properties here in the Shasta County

area uh but I also do Investments uh for

most of my clients contractors Airbnb

hosted Homestay you name it uh but yeah

come and find us here in Redding now one

thing that we're looking at is we're

trying to understand what's of bringing

people to the area we know we've got uh

hospitals and expanding and Medical

Services expanding but there's got to be

more than you getting sick and getting

Health Care to living in an area so

we're trying to figure that out around

the healthcare area we've got a lot of

uh commercial properties I mean you've

got fencing you've got restaurant supply

you've got cannabis Supply you've got

tire stores and wheel stores and so

you've got a lot of of your more sort of

traditional maybe Blue Collar work uh

flooring stores coverage store but then

again you have those in in almost every

city that's over in the hospital area we

did see uh apparently there's a new

Costco uh you've got some new

construction closer to the airport where

we landed uh and I think that's probably

why you're getting a little bit of a

higher cash flow out here in Reading

because anytime generally you see a

higher cash flow you have more risk in a

market so for example if somebody says

hey my the cash flow I could get a 10

cash on cash return and you know the the

middle of Ohio it's like okay well how

long is that City going to survive how

many jobs are there oh well there's one

company employing everybody what happens

if that company goes bankrupt then the

town goes bankrupt and you end up with

those ghost towns where basically

everybody's left or your population just

really starts declining so population

growth really important still haven't

figured that out yet for reading so I

think that's why you're seeing a little

bit of an elevated cash flow in certain

areas obviously the big fixer that we

just saw something to keep in mind on on

that is

the easiest place to get larger wedges

in my opinion is in higher price ranges

anywhere that four to eight hundred

thousand dollar range a lot easier when

you're looking at something that's a

fixer-upper and it needs everything for

two hundred fifteen thousand dollars it

doesn't make sense I mean you'd have to

buy it so low uh that I mean maybe

somebody would want to sell it to you

that low but I feel like then you'd be

chasing lottery tickets uh and it's

probably just not worth the headache

because even if you did get a good deal

now what kind of rental turnover are you

gonna get how difficult is it going to

be to manage properties out there the

people who are renting from you going to

want to put back in front doors and

start subleasing out all the bedrooms I

don't I don't know so those are all

things hey how you doing wow I love the

Plaid that looks really good nice to

meet you Carson I guess the biggest

question is like why would somebody move

here and stay here versus just going to

like Vegas well very different markets

in Vegas in a very different lifestyle

okay so Redding's biggest selling

Advantage is the outdoors I'm sure

you've seen all the houses I mean it's

gorgeous yeah 260 miles and mountain

bike trails you've got restaurants of

all different varieties yeah are you

guys familiar with like Bethel and what

they're doing not much so it's

essentially a mega church ah brings

people from all over the world but the

benefit of it is you have all these

businesses from people from all

different nationalities yeah so there's

like Italian bakeries from a family that

moved from Italy oh wow coffee shops

from Top Roasters all in the nation all

here in Redding geez okay and so you

have just all these different things

where it's like real high quality but

it's still a small town small town feel

coming for that lifestyle and where are

they coming from like SoCal San Fran

whatever okay San Francisco I mean you

have these feeder markets of course you

know the Bay Area the places that are

closest to here that are seeing this as

like the easiest transition to a big

city yeah where you can have direct

flights to La San Francisco a couple

other direct flights as well but it's

the easiest place in California half the

price of the rest of California right

yeah yeah no statistically speaking Yeah

and then it's just an easy easy place to

live if you love the outdoors yeah and

like something like this

um who would rent this tip you're like

what's your typical tenant out here well

speaking of tenant-wise you have a few

different situations that happen you

have tenants that will either rent out

bedrooms okay so you'll get two to three

people to one bedroom sure and they'll

pay anywhere from like four to seven

hundred a month and if you want like

exact numbers too I should always refer

you to a rental agency professional yeah

yeah sure no they're just ballpark

foreign

they just started a football program and

so they're going to be bringing in an

entire football team here you got Shasta

College as well and then you have Bethel

Church which brings in a ton of students

in that 20 to 35 range got it got it and

those are the ones that are coming here

like renting out bedrooms that's your

bedroom kind of tenants yeah and then

what about like more long-term whole

house rental whole house rental you have

the main markets for Shasta County is

going to be Health Care okay and people

that work for the county and the state

oh okay those are the two biggest income

producers here in the area that are

typically renting out houses here and so

what the parts of the state would work

here as opposed to like say Sac well if

you look at all the areas a lot of

people came here when they started were

being able to work from home uh to

imagine San Francisco LA these massive

cities where you're congested have a ton

of people yeah everybody's forced to

work from home why would you work from

home there when you can come here and

enjoy all the outdoors that we have the

hundreds of waterfalls the Lakes not

everything so and you grew up here you

said my whole life oh wow that's awesome

my entire life oh my gosh good for you

know everything you need to know so

something like this what would this rent

for if there's like a ballpark I mean

4-2 here

um you know assuming like we cleaned it

up right like we're paying cabinets

floor drapes whatever like that the

average four bedroom two bath is

probably gonna rent for about two grand

to 2400 a month depending on how updated

it is okay okay but you know for exact

numbers still just sure she's going to

give you the best one because I don't do

a lot of the rental stuff that's all

right yeah I don't want don't worry

about it that's awesome so uh okay now

this size uh is it like this area this

what is this is the Northeast you get

larger homes out here larger homes what

you have actually is if you were to

continue on the street that we came in

yeah you have a bunch of brand new

construction being built in this area

and so this area has a bunch of new

construction that's down towards like

Oasis Fun Center I'm imagining no that's

actually heading north towards Shasta

Lake city which is one of our smaller

like sub cities of the area that you're

actually looking at is right over here

you have one of the nicest golf courses

in the area oh wow this golf course okay

and so just across the corner I mean

yeah it's rubber banding sorry oh you're

good you get back to the main road right

here yeah all new construction right

here ah wow okay and so you have all

this it's just a nice golf course

amazing views it's beautiful and so

you're seeing a little bit of new new

construction up here but most of the new

construction is actually happening on

the Southeast side that's like by the

airport right over by the airport yeah I

see and and are are those selling well

like do people want to live out by the

airport well relative to here or what do

you see a small airport so it's okay it

doesn't matter that's true one terminal

yeah yeah that's how you guys flew into

it so you saw how easy and small it is

it's simple yeah so it's not too bad but

if you picture reading we're surrounded

by mountains okay so you really only

have a few ways you can go yeah and what

most people are finding is that

Southeastern section is where all the

flat land is so that's where you get

your acre or whatever yeah it's just the

easiest to build so DR Horton came in DR

Horton bought a bunch of subdivisions

here in the area and so they're building

quite a few properties out here gotcha

and then uh this particular neighborhood

over here uh it looks like you've got

more three-car garages out here a little

larger homes

just a standard size like this and this

lot's pretty typical for reading for

this neighborhood for reading you can

definitely find lots like this but it

depends on how far out of town you go

yeah you go just past the airport you're

going to get acreage oh even more okay

gotcha uh yeah I mean as a landlord we

we would probably want smaller yards but

whatever is more immediate right exactly

wow yeah that goes up huh yeah a little

Skylight all right cool yeah the emerald

tiling obviously some basic Cosmetics we

can fix up whether it's paint or

obviously the teal carve I try to focus

on mostly cosmetic fixers those are I

love that yeah yeah once you get into it

you're good yeah yeah exactly what do

you get in terms of uh your larger

fixers or those gonna be more on like

the lettered streets like ABC kind of or

where do you generally get your big

fixers like they're all over they're all

yeah they're random they pop up and sell

the good ones sell right away yeah

exactly ever at the market generally

yeah actually the best purchases those

are the best as you know well that's

what we're looking for exactly so

exactly well the next one we're gonna

see isn't on the market yet so nobody

knows about it nice but once you see it

on the market it's been picked over by

everybody anyway yes exactly so it's

like finding that stuff before it hits

the market yeah please

the best choice yeah yeah absolutely

yeah I mean this is what is this late uh

this is 90s right yeah 1872 so if you

actually look in here this has all the

homes that we're gonna see oh yeah okay

perfect so I got all the homes for you

in order oh thank you so much and this

is the actual market update for Shasta

County as a whole oh sweet okay perfect

to the absorption rates up here where

we're at now compared to last year well

yeah and the average price where it was

and then I narrowed down the meat the

median price point that you're going to

be looking for nice yeah yeah 350 to

four-ish exactly yeah and then you've

got so built in 97 for this one okay

okay perfect see what Supply and demands

doing there on the sheet yeah 11 000

square feet I figured you're a numbers

guy yeah yeah thank you for that video

that I was watching yeah absolutely

thanks for that okay perfect yeah let's

go to the next one perfect yeah this is

this is actually like a clean dated one

since they have a very clean yeah

exactly but that's good it's good to

know this particular neighborhood

um

schools how is that in Reading I mean

like Elementary Middle High do you get a

lot of younger kids and families with

younger kids there's more retirement a

lot of schools I don't know the exact

number on how many schools we have sure

that's okay um would you say more

retirees or more younger families or

just equal both it used to be a

retirement Town used to be but now it's

it's edging more towards younger people

mid-20s early 20s if you're getting a

lot more of those younger families

coming here got it the outdoors is just

so easy to enjoy out here it's nice yeah

do you even have HOAs really out here

they're very rare very rare okay I

figured

uh but yeah I mean this is this is nice

this is where you really want to get uh

like a fixer like if you can in a

neighborhood like this you get something

that had a roof go bad and it's molding

or whatever you you score on a property

out here like that if you get a real fix

driver because everything else is so

gorgeous and clean see that's what you

want that lift

all go I mean this yeah this is really

nice this is actually a very we were

just on a property over on C Street like

those four and ones uh and and uh yeah

it's a let's just say it's a little

different that's the oldest section of

town that's the oldest section of town

okay uh yeah that makes sense yeah yeah

this is nice now one of the downsides

here is obviously the properties are a

little larger what is this 2 000 square

feet or something like that I think oh

1872. ah that's okay though 1872 is

still good once you get into like three

4K it's it starts getting really

expensive to re-floor everything and

repaint everything so this is actually

this is right in that hit Zone this is

nice yeah this is this is a good one

okay let's go to the next one so uh this

looks obviously this neighborhood's a

little less like homogeneous than the

last one yeah so rental wise it's one of

the best rental neighborhoods really oh

it's a higher percentage of rentals or

well because you have Bethel all the way

down there uh-huh you have Bethel

Church's current location there you have

Simpson University just over there and

then Shasta College is also there so

more rental demand over here so it's a

huge rental demand okay and this is the

one that's off the market so nobody

knows about it oh perfect you're the

first ones to see it yeah I saw the

listing was uh that was from o4 yeah

yeah and I'm like oh it's just so we

have the specs which is good thank you

for that yeah I have a real good friend

of mine he's one of the top lenders in

the entire nation here in Reading wow he

actually knew all about you no way I had

never seen your videos until McKay

called me Ah that's awesome well small

world but he would love to meet you oh

wow if you want me to have him come to

the next house that's a great eye for

Investments yeah absolutely and we would

love to meet him I actually do a lot of

personal investment stuff with him and

also one of the multiple investment

stuff so he'll be able to give you a

really good perfect for it I also

already love that they have sort of the

older person bar and it's well used as

you can see over here on the end I'm

already getting excited

I mean hey you know it deals

see and you can even tell like when

somebody spends even a little bit more

money to have those like that color of

these are the hooks for for like

Christmas lighting or whatever see how

they spent more money on those getting

like the nicer color or whatever you can

already tell they care more about the

property than on C Street C Street was

just crazy

uh wow yeah okay this is the dated well

cared for uh but wow oh wow

does yeah what I like is so so I mean

given this I mean how much is this going

for this one's coming up for 3.99 390 is

that ideal price point for Shasta County

but it's 2100 square feet it's a nice

nice and way bigger than what your

average four bedroom well three bedroom

two bath but you have a family room that

could be converted got it and then uh

what do you think if this was move-in

ready like HGD TV style like just rental

your best bet would be to rent it out by

room oh gotcha okay and have somebody

manage that or you could just rent it

out as a house but as a house you'd

probably get about 25 2800 a month and

then how much uh what do you think it'd

be worth fixed up price wise 2100 square

feet all fixed up in this neighborhood

you're about 250 to 265 a square foot

okay so you're approaching 525 550.

gotcha okay that's like a fully move-in

ready remodeled yeah so you're at 3.99

because a little dated yeah you got work

to do obviously for it all right looks

about as it did in o4 yeah yeah no

kidding that's that's when it last sold

then huh exactly but it's like easy

maintenance backyard that's interesting

make the deck nice yeah yeah that and

that's see that's

already when a property is well taken

care of you you're not as worried about

everything at like we went the property

we looked at at C Street everything they

touched you could tell it was done

terribly so you know the maintenance

system you're in downtown so back then

was when they used like clay piping for

everything as well so unless somebody's

done the piping the electric everything

yeah everything in that home you're

gonna have stuff yeah oh yeah that one

has stuff how fast do you think this

will go at 3.99 the typical if you price

something accurately which at 3.99 it's

under 200 a square foot which is a great

price especially because it's clean and

move-in ready yeah yeah it should sell

within the first couple weeks yeah but

average days on Market currently is

about 88 days but it just depends homes

that are Priced Right sell fast yeah

so you guys have termites out here like

we do in SoCal uh termites yes a little

more rare I mean you don't really get

them too often unless you've just really

poorly managed your property oh right so

you're not bagging every property yeah

that's more like woodborne beetles is

what I've seen them interesting that's

extremely rare oh okay okay interesting

wood-born beetles and then you fumigate

for those that's when you fumigate a

whole house and you tint it so it's more

very rare okay termite bids I mean you

can get a termite inspector to come out

here but you got stucco sure raised

Foundation it's easy to access

everything they'd be able to fix it all

pretty easily okay we'll take a peek

around see so

hmm

it's interesting this sort of floor plan

initially it feels a little chopped up

when you come in but it's really open

over here

it almost feels like sort of a custom

custom home return over here

uh so we have three bedrooms over here

so what's the lowest there it's just

Foundation because you've got the

original baths over here oh my favorite

my absolute favorite sitting properties

like this with with the uh with the

older kind of curtains here or uh

yeah yeah we got to keep them exactly

but I mean even all these uh these

upgrades

this was this all done

in the tract or is this a custom built

home most of these were all different

they were all customers they weren't

really sub yeah unlike the last one yeah

yeah that one's more like standard every

house is pretty much the same this one

back when it was built every house is a

little bit different yeah they had their

own inspect Builders yeah this is

there's there's a lot of work I mean

this

there's so much uh that you could easily

upgrade to make it look 20 23 and really

capitalize on the value that they

originally invested in the property but

this is this is a great property well

maintained I like it

oh yeah this is easy

you know new new flooring throughout and

lots of paint this place transforms

that's great

okay cool

and off more good I love the little

coffee bar right here yeah that's the

tequila bar

or time of day right time of day yeah

I like it so what's below us I mean this

is so raised is that because the street

is so much higher well that's just

because you're kind of at this downward

slope I mean you've got this massive

depth but we can probably walk down

there and see if there's an access to

underneath yeah so it almost feels like

you could have more rooms down than not

that you want to build a bin but and so

on this side of town it's more so noted

ironically enough for being quiet

the west side of town on C Street where

you are I mean obviously that's a

downtown section careful on the bottom

ones here they wobble a bit

oh yeah okay this is it's just raised

that way yeah okay I got a big old

access down there yeah a little odd or

unique I should say backyard but uh

that's because like you said you're on

the slope over here yeah okay

we got lots of space though all right

cool let's go to the next one thank you

so much for joining me and shadowing

today tell me about yourself and Shout

yourself out oh yeah no doubt we uh we

had a blast today with Kevin hanging out

with the team looking at properties all

over California he even show furtis back

to the to the airport but yeah I'm Ricky

Carruth I'm a 21-year real estate agent

down in Alabama right on the beach and

uh became the first completely free real

estate coach a couple years ago so if

you're a real estate agent looking for

free coaching go to zerododiamond.com

and if you have any questions just DM me

on Instagram I answer all of my messages

nice thank you so much it was a pleasure

yeah you too bro thanks appreciate it

this is the Edgewood Estates

neighborhood

States yeah so one of the nicest things

you can't really see about this

neighborhood is there's a big creek that

kind of follows through we drove over it

okay that's uh Churn Creek and it's an

amazing Creek it's pretty much full

almost all year long but one of the best

walking trails is just to the north of

this subdivision to the north of this

this way so it's Lima Ranch it's all of

that ah okay and then Simpson

universities right up here uh yeah right

and we've been up pretty much on the

opposite side but nice this neighborhood

what you have is it's in the one of the

best school districts oh okay okay so

the school district specifically is one

of the main reasons it's called Boulder

Creek School Boulder Creek School you

see a lot more basketball hoops out here

yeah definitely one of the more

desirable neighborhoods because of that

okay but it's also everything on this

side of town that you're going to see

now is a little bit newer it's mostly

like 90s 2000s perfect yeah we love that

that's right very clean neighborhoods

you're not going to have any kind of

like bad mobiles or anything that's too

bad you'll not be one-off weird homes

sure that are not taken care of but but

hey those are the ones to why exactly

okay but overall every neighborhood on

this side of town is going to be great

nice

hey look they put the the gutter shop

shoot that we didn't see

I keep making fun of this C Street

property was so terrible oh yeah and if

you're gonna look on that side of town

one of the areas you would want to look

into is the cooch's tracks these

neighborhoods are great these these last

three homes all of them these are the

neighborhoods that you want to buy the

fixers in and I mean this is perfect

because you've got the carpet you've got

the satio-ish tile over here the

linoleum over here with the old

countertop and everybody's fascinated by

an electric cooktop over here electric

range uh yes we do have electric ranges

yeah California that's right that is old

school most of our stuff's natural gas

but yeah

because so many of the flower light

fixtures today too it's actually great

uh okay great so you've got RV parking

on the side you've got you said this is

about 1500 square feet three and two

1500 three and two a lot oh I mean all

of this story which is nice yeah yeah

and ballpark on renting something like

this though it's all going to be around

the same same 1800 2000 a month all

updated and clean okay

yeah that's great and obviously so

Shasta County the fact that it was more

of a retirement community yeah it gives

you more of this opportunity prime

example right there there you go hey

wait wait wait you're saying you don't

have one of these come on yeah you're

right but that's actually a really good

point I didn't think about that is if

it's a retirement community that's now

becoming more of a youthful environment

the youthful environment would be more

interested in buying fixed up properties

but everything's dated because that's

what everybody else was interested in uh

why are people moving though like why

would a family come here because of the

recreation right the outdoors that's it

yeah one of the biggest things okay

outdoors I mean 260 miles of mountain

bike trails hundreds of waterfalls all

these Mountain Lakes you got the Trinity

Alps you have the marble mountains Mount

Shasta for skiing oh yeah you got Lassen

is just a national park that's amazing

that's really any direction you go is

super nice that's why you're getting

that growth two-hour drive to Sacramento

direct flights to La San Francisco and

all these other cities right tried right

I mean it's like you are basically right

in the center of being able to access

everything you'd want yeah but yeah

that's really interesting though because

goals are another big factor too I mean

starting a family in a city like this

where the average price is roughly half

of the rest of California and you're

still getting a good school you're still

getting California you're still getting

the good schools you're still getting

all that access I mean it's a great

Community yeah yeah no this is also a

little bit it looks a little smaller on

the lot size but more manageable but

then again they've got the RV off to the

side in terms of parks so you've got

some more room here this um I'm guessing

is is uh probably getting pretty average

out here yeah this is definitely fairly

standard and you got like the easement

space back there to access the power

pools so you get that little oh that's

why they have that between the units

yeah it's either power poles or sewer

line it's gonna be one something back

there okay but one of the nice things is

since it was a retirement community

everything being single story helps not

limit your customers because that's also

true that's a really good point yeah

yeah they're not going to want a

two-story home that's that's why you get

so many singles as well okay makes sense

don't find too many two-story homes out

here is that just all of Redding or just

these particular blocks or neighborhoods

these particular neighborhoods and

blocks I mean you gotta start getting

into some newer construction you'll find

a lot more just like space save I mean

we drove by some new control yeah so

we're seeing a lot more of that now

because it's a lot more younger families

coming here yeah and they don't care

about stairs yeah yeah exactly that's

awesome I like it all right let's go to

the next one this is great though yeah

this is this kind of stuff is awesome

throw in a little bit of mold and it's

great so Lauren's now stocked us up with

not only this insulated bag in ice here

it's like a big lunch box going to

school but everybody then gets an

individual little brown baggie where we

can put uh looks like we've got uh yeah

pretzels today sandwiches this one has a

banana in it so it's kind of like a

little Lottery as to what you're gonna

get I pulled out a little extra sandwich

on the side but uh yeah you know

got to be efficient stay efficient stay

hydrated actually we need coffee you

know what portable coffee that's what we

need everywhere we go

yeah well I left that on the plane uh

yeah yeah we can't you need to babysit

me better but uh look we got lettuce and

cheese or lettuce cheese and turkey

today maybe I gotta we can upgrade to

like whole wheat bread

um yeah okay we need some whole wheat

and and some white I mean white Bread's

pretty delicious anyway just keeps us

going it's on the front taste to the

inside it's gonna be perfect because you

can leave this as is the roof looks

pretty much brand new it does look new

yeah um neighborhood wise you're

probably around a step down from the

last one really okay so it's still that

neighborhood's a bit more desirable

compared to this neighborhood but it's

still an amazing neighborhood oh no what

could be really interesting about a

property like this that doesn't look

like a wedge from the outside you've got

the newer roof you've got the new paint

job those are expensive things doing the

uh the wood repair on the outside you've

got uh the roof is expensive you've also

got it looks like they put a semi-gloss

ish on on the lumber out here which is

the siding which is great

windows but then sorry that one looks

like just the t11 basic siding yeah yeah

and then it looks nice here you've got

the uh the Dead Fly hanging in the mini

blinds with all the dust and the dirt so

it I'm interested to see the inside

because if somebody else can do the

expensive stuff for you and then you

just have to take over like some of the

you know wherever the mold is basically

perfect kind of property to buy because

again you want somebody else doing the

expensive stuff

and you want to get the most market

value possible by doing the least amount

of work they recognize you while you

guys were driving who did wait wait a

guy that followed us the guy that

followed oh I'll say hi how's it going

what's up dude hey thanks so much for

coming out here yeah yeah totally oh

that's awesome

oh that's awesome we're so uh did you

just see us drive by are you serious

I saw you guys like Instagram I was the

one that typed in like this morning like

you coming to writing questions oh and a

course member livestream you said you

said like four times or something like

that right yeah and that's so funny I

think I kept seeing it pop up yeah yeah

I don't know it was good I mean you

sometimes you have to that's awesome

thank you oh that's so cool okay so that

you actually mentioned this was

potentially a step below the other yeah

okay

oops yeah thank you

got it

and uh is that because of the school

district in part

oh same school district though okay okay

the homes in that neighborhood

specifically were built a little bit

bigger so you have bigger Homes at the

time they were built okay you know

obviously more affiliate families are

going to move into that when it was

first established so it just kind of

created the train back how long uh dude

I mean just ballpark do you know how

long it takes someone to rent out a

property here if it's marked price

correctly yeah currently in Shasta

County it's about an eight percent

vacancy rate okay so a lot of it right

now is going to come to pricing yeah

yeah sure

competitively do you get demand pretty

quickly yeah you get you get multiple

applications usually about one to three

per home is what most experts in terms

like the rental agency that's what

they're saying okay yeah what to expect

okay all right yeah good to know yeah I

mean it's it's incredible how I think

you had mentioned it's the outsides

updated the inside's not yeah exactly

fantastic the stains on the carpet it's

perfect then I'll take a quick peek

the older light fixtures they're the

linoleum the good old 90s the linoleum

love it pinkish carpet simple

keep it simple carpet in the bathroom

yeah pretty consistent with what we've

been seeing all day yeah the uh what you

wouldn't want is to obviously update

properties and then get stuck with them

not renting quickly that would be the

downside this thing as a property like

that's going to rent all day long oh

these will run quickly then oh yeah as

long as you maintain it and price it

right put it up to where you're going to

it'll rent easily Mikey Lauren made this

especially for me spinach and cheese

so when are you hitting your tenure no

meat oh and oh I mean food meat

January of food uh yes

celebrate my 10 years I might have steak

I want to be there for that I'm coming

to SAC thank you so much this has been

awesome it's been really good to explore

these various different areas here

um can you shout yourself out let

everybody know how to get in touch with

you uh in the event they wanted to

perfect my cell phone number is

530-410-1420 just give me a copy of

questions about real estate in Shasta

County you do text too text call email

is Carson readinghomes.com

k-a-r-s-o-n readinghomes.com those must

be the new homes uh three on that side

maybe we'll that doesn't matter

yeah you can just give this a loop

through and then we'll turn around it

actually does look like St George this

is very nice it's more difficult to find

a fixture in here but this is the kind

of neighborhood where blindly completely

blind if somebody's like Kevin I got a

fixer coming up in this neighborhood

it's you know had some roof damage and

some mold or whatever what I always want

the mold anyway

um point being you get a fixer in a

neighborhood like this you just blindly

buy it uh obviously you can inspect it

during inspections or whatever but but

this is that's great uh I love the newer

constructions now no what is this this

is probably all to be developed yeah

these are the other phases

yeah here's the pre-dun cul-de-sac a lot

of

[Music]

all right let's go

cyber card I wonder if I can go buy it

and then return it it's it's interesting

let me look at all the pre-done

electrical out here this this is they're

going to build all of this out

that I mean In fairness if it was a

fully dying town you wouldn't have this

kind of investment and these are these

are gorgeous I went I think what they're

going through like mid-fours or

something like that

no you don't think so what do you have

what do y'all think

no way really yeah okay maybe

because we're by the airport dang it 625

wow High sixes I was right is that what

you said High sixes no that's 625 oh

yeah here's the 695 yeah yes this one

okay yeah this one on the corner right

here uh 2 800 square feet three bedroom

but yeah okay that makes sense I mean if

somebody's willing to pay

657 out here uh

new construction that's an investment

into the area yeah now remember if you

want to come Shadow me you can do that a

link Down Below in the description no

guarantees that we'll be traveling I am

traveling a lot but you just pay to

Shadow me whatever I'm doing whatever if

we're driving locally we're in the

office we're flying uh looking to uh to

share some time with me Kevin check out

that link down below so what are my

thoughts on reading well so far I'm

still a little bit as a loss as to why

somebody would want to move here I hear

a lot of it was a retirement community

that makes sense people take a fixed

income they move to a retirement area

but what happens when that generation

moves on well and then you've got

potentially a need for new families to

come in right or you don't when you

don't have new people come in you start

seeing in population decline we are

starting to see maybe some of the Tells

that potentially there could be a

population sort of plateau we're still

seeing new construction which is a plus

that's a sign that the builders are

willing to invest here but even when you

have a population uh Plateau or even a

slight decline you still end up seeing

new construction that's because remember

Builders come in and what do they do

they build sell and move on we're

looking to create a portfolio of assets

that we can then manage for institutions

for the long term so we have to be able

to represent to an institution who's

buying our portfolio in the future so we

could keep doing wedge deals we have to

be able to represent to them look this

is upside this is appreciation for you

this is there's long run potential here

we don't want people looking at our

portfolio going Kevin defend why you

bought here well uh-huh well we think

it's good well that's part of the reason

of traveling we have to become experts

in all the areas so I'm

some more study needed before we can

officially rule out reading one of the

nice things about writing is you

definitely get more cash flow but

remember with more cash flow tends to

come risk so that means we have to

analyze what those risks are and see if

the risks are outweighed by better

rewards so we'll evaluate that but so

far TBD now what we're going to do is

we're going to fly to Santa Monica we're

actually flying into Hawthorne but you

might remember that from is actually

being right next to SpaceX which what's

really cool is we're going to go from

there and then we're going to talk about

SpaceX with someone from Arc invest and

so we're really excited to talk to this

analyst Brett from Arc invest super

excited we'll obviously be posting that

video separately but in the meantime

let's go hop on the Jet and have some

fun phenomenal interview with Arc invest

done such an honor to get to visit not

only reading but then follow up with an

interview with Brett from Mark invest

super insightful brilliant mind thank

you so much for watching as always make

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