I went to my apartment building in Oakland California today to see a unit which we were turning over and stumbled across a super savvy couple who are flipping houses. It turns out they are updating and flipping the house right next door to my apartment at 5300 Walnut St in Oakland.
Dan and Martha Mercer of Marleeproperties turned out to be not only a fantastic resource for workers in the area, but they are also experienced investors who are interested in learning about multi-family investing. We met a couple times and previewed some properties together, now they are seriously considering making an offer on a building that I have looked at myself recently.
The property is a single room occupancy or SRO. It is located at 417 15th Street in Oakland right across the street for City Center. The location is fantastic but its a challenging building to own and operate. But Dan and Martha were not even phased even though there were tenants screaming at each other while we were touring the property.
Dan and Martha are fantastic clients and true real estate professionals. I predict a long and fruitful relationship.