Newbie from Berkeley, CA
Hi everyone!
I am excited to join this awesome community. I have been learning about real estate from bigger pockets and other resources for over a year and I feel that now is the time to get started in real estate. My goal is to get my first property under contract by this the end of this year!
I am looking for partners who are interested in investing in the SF bay area, California or in other states. I spent some time in a thought loop thinking I must have a deal before I get funding, but have funding before I find a deal. Now I am thinking if I find a good enough deal, the funding will come (through some combination of family contributions, partners, and loans).
Currently I am spending my time finding and analyzing deals. I think I am getting better at analyzing properties. Although some say your first deal is really just to get one under your belt, I still want to hold out till I find a good deal.
I have a few connections in the fix and flip/fix and rent business including my father, so its definitely nice to have some people in your corner to look over your numbers and make sure you are in the ball park.
Because this is my first deal, I am thinking a fix and flip might be the best way to learn the basics. My longer term goal is to acquire a portfolio of rental properties and obtain passive income of 10k a month to be entirely self sufficient.
I am currently working with a few agents to find fixer uppers in the Merced, CA area near UC Merced. I hear they plan to double the size of the university soon so I am thinking this could be a good area to invest in. I am also looking for boarded up vacants around the Berkeley, Oakland area, but I know the SF bay area market is very competitive and "over-heated" some might say.