August 30, 2017--Oakland, CA-- Mynd, the tech-powered property management company with the industry’s first real-time data management and mobile app, announced today that it has acquired San Diego-based Pacific Shore Management’s 595 unit portfolio. The deal makes Mynd one of the fastest growing mid-cap property management companies in the US and will more than double their unit count to nearly 1,100 in just 10 months of operations. The expansion into Southern California, one of the nation’s largest rental markets, further demonstrates the company’s commitment to overhaul the rental management industry.
One of the most appealing aspects of investing in real estate is the tax benefits it offers. Most people know that they can write off depreciation, operating costs and a portion of capital expenditures each year. Most also know that they can defer paying capital gains tax by investing in another like-kind piece of property through a 1031 exchange. These are all very attractive income-preserving tools.
When it came to integration of new technology, real estate always seemed to be a dinosaur. From real estate sales to property management, it was typically business as usual. But what a difference a few years can make. The real estate tech industry has exploded, and now, companies are vying to integrate technology as quickly as possible in order to keep up with their competitors.
Earlier this year, the State of California passed first-of-its-kind legislation in an attempt to increase housing supply. The law requires cities and towns to allow homeowners to build in-law apartments as of right, without having to go through a cumbersome permitting process.
Whether you’re a longtime Bay Area property manager or first-time landlord, you’ve probably come to realize how critical communication is to running a smooth operation. Clear, concise and timely communication helps to manage both risk and relationships.
The Bay Area economy is booming. From 2012 through mid-2015, employers in Santa Clara, San Mateo and San Francisco counties were collectively adding 100,000 new jobs each year. The economy has slowed a bit, with employers adding just 40,000 new jobs year over year since then. Economists suggest that the slowdown could be due to unemployment rates hovering around record lows (just 2.6% in San Francisco and 3.0% in the San Jose metro area).
If not openly, it’s something people have been talking about behind closed doors: is the Bay Area’s economy on the verge of a downturn?
Here’s a question for you: What is the best way to invest money you wouldn’t need for 10 years or more?
Google is on the move again. Just a few weeks ago the tech titan announced its plans to build upwards of 8 million square feet of office and R&D space in downtown San Jose, a move that real estate experts call a “game changer” for the city.