Recommended Data Analysis for Investing in the Bay Area
Hello everybody,
I live in San Francisco and have always wanted to invest in real estate since I was a kid. My grandmother owns some real estate and has always inspired me to want to do the same.
Right now, I definitely do not have enough to invest in SF, unless it was with some partners (which I'm open to). However, I'm tired of constantly taking about investing, studying, reading, etc. I want to finally act on it.
I know we're nearing the height of unaffordability in the BA, but if there's a deal out there I'd like to act on it. I'm trying to move around my work schedule (Realtor by day, bartender by night - my sleep schedule is a mess!) so I can make some of these networking events.
My question is, what is a good data analysis criteria that investors in the BA like to use when looking for an investment?
My goal is buy and hold with positive cash flow (hopefully built-in equity). Wait for 6 months of seasoning and then repeat it for another property.
The 50% rule and the 2% rule just don't apply out here. The BA is like an island unto itself as far as RE goes.
Any advice for a newbie trying to get his feet wet without going bankrupt the first go around? lol... seriously
I always looked outside of the BA and California because I thought it was too expensive, but now I just want to keep my money here as I feel it's a lot safer/lucrative of an investment.
My long-term goal: Net cash flow of 4K/mo so I can stop bartending and only work off of referrals for my RE sales job (if at all) because RE investing is what I've always wanted to do full-time. As a kid, I can remember my grandmother going across the street to one of her properties and picking up an envelope of cash from her tenants. To this day, I think that is the coolest thing ever.
Thanks for your time everybody! Any advice helps!