New Investor in the Bay Area

San Jose, California
Starting Out
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New Investor in the Bay Area

Akshar Puri
Member since 2022 · 4 posts · 8 votes

Hi BP community - my name is Akshar and I am a new investor hoping to close my first deal this year.

My background: I have worked in the hedge fund industry for over 4 years, and am now trying to diversify some of my wealth into real estate. I am most interested in running a buy-and-hold strategy, but I am unsure of whether I should start investing out of state, or in the area in and around the Bay Area. My main objective is to buy properties (preferably SFH for my first deal) with strong cash flow (looking for 6%+ cash on cash return), with some appreciation on top, which I know is challenging in the Bay Area. However, traveling long distances to buy and rehab properties out of state can be very time consuming, which is a large con for me given my very very busy schedule.

I would love to connect with other investors located in the Bay Area, and am hoping to find some local REIA networking groups/meet ups (please let me know if you are aware of any!) I have been on BP for a few months, and I hoping to learn from other investors, find a mentor, and network!

Looking forward to being a part of the BP community, and getting to know other investors!

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Santosh Prabakar
Member since 2018 · 27 posts · 6 votes
3y

I'm Planning to attend the Oakland event.

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  • Randy Bautista
    Rental Property Investor · Pleasant Hill, CA · Member since 2021 · 2 posts · 1 vote
    3y
    Quote from @Anna Patty:

    @Randy Bautista I just signed up for the Oakland meet up next Thursday! 


     Sounds good. I just signed up as well. See you next week. 

    1Reply
  • Osazee Edebiri
    Realtor · San Jose, CA · Member since 2015 · 318 posts · 154 votes
    3y
    Quote from @Akshar Puri:

    Hi BP community - my name is Akshar and I am a new investor hoping to close my first deal this year.

    My background: I have worked in the hedge fund industry for over 4 years, and am now trying to diversify some of my wealth into real estate. I am most interested in running a buy-and-hold strategy, but I am unsure of whether I should start investing out of state, or in the area in and around the Bay Area. My main objective is to buy properties (preferably SFH for my first deal) with strong cash flow (looking for 6%+ cash on cash return), with some appreciation on top, which I know is challenging in the Bay Area. However, traveling long distances to buy and rehab properties out of state can be very time consuming, which is a large con for me given my very very busy schedule.

    I would love to connect with other investors located in the Bay Area, and am hoping to find some local REIA networking groups/meet ups (please let me know if you are aware of any!) I have been on BP for a few months, and I hoping to learn from other investors, find a mentor, and network!

    Looking forward to being a part of the BP community, and getting to know other investors!


     Hey Akshar,

    Welcome to BP Community. I am here, also in San Jose. I house hack as well as have multifamily property. I like that you have specifics to your goals and understand what is important to you, which based on what you mentioned is not spending a lot of time on this because of your current busy schedule. 

    I think 6% is doable, here in the depending what your cash outlay looks like for the property you purchase and how you structure the deal. Have you already looking into what types of properties interest you here verse potential properties OOS?

    0Reply
  • Tamera White
    Rental Property Investor · Raleigh, NC · Member since 2022 · 33 posts · 23 votes
    3y
    Quote from @Randy Bautista:
    Quote from @Travis Biziorek:

    Hey Akshar, I'm not far from you down here in the Central Coast (Arroyo Grande to be exact). I'm also up in the bay area a couple times a year.

    Anyway, if it's of interest I can talk to you about the Detroit market. I own 12-doors there now and I'm finishing up a duplex here soon as well.

    My properties cash flow like crazy and have seem extremely good appreciation as well. I have a partner on the ground there that runs a turnkey operation to help identify properties, rehab them, and ultimately manage as well. Sounds like that might be a good fit for you. Shoot me a message if you want to chat!


    I would also like to know options with OOS rentals. Are there any East Bay meetings soon? 


     Hi Randy 

    OAKLAND REAL ESTATE INVESTOR MEETINGS:

    • Oakland Investor's Network

    Mahad Williams

    Third Wednesday of the Month 

    Location changes monthly

    Wednesday

    February 22, 2023

    6 p.m. - 8 p.m.

    Red Heron

    1780 Telegraph Avenue 

    Oakland, CA

    • Miyana "Yana" Epps

    Oakland Investor Social- Networking Event 

    Saturday, February 25, 2023 

    1:00 pm to 4:00 pm

    (Pacific Standard Time)

    Plank

    98 Broadway

    Oakland, CA 

    0Reply
  • Mario Ponce
    Real Estate Agent · Concord, CA · Member since 2020 · 10 posts · 6 votes
    3y

    I’m in the east bay. Concord, Walnut Creek area. I’m always down to talk investing. I have a large network out here. What are your goals?

    0Reply
  • Randy Bautista
    Member since 2022 · 6 posts · 2 votes
    3y
    Quote from @Tamera White:
    Quote from @Randy Bautista:
    Quote from @Travis Biziorek:

    Hey Akshar, I'm not far from you down here in the Central Coast (Arroyo Grande to be exact). I'm also up in the bay area a couple times a year.

    Anyway, if it's of interest I can talk to you about the Detroit market. I own 12-doors there now and I'm finishing up a duplex here soon as well.

    My properties cash flow like crazy and have seem extremely good appreciation as well. I have a partner on the ground there that runs a turnkey operation to help identify properties, rehab them, and ultimately manage as well. Sounds like that might be a good fit for you. Shoot me a message if you want to chat!


    I would also like to know options with OOS rentals. Are there any East Bay meetings soon? 


     Hi Randy 

    OAKLAND REAL ESTATE INVESTOR MEETINGS:

    • Oakland Investor's Network

    Mahad Williams

    Third Wednesday of the Month 

    Location changes monthly

    Wednesday

    February 22, 2023

    6 p.m. - 8 p.m.

    Red Heron

    1780 Telegraph Avenue 

    Oakland, CA

    • Miyana "Yana" Epps

    Oakland Investor Social- Networking Event 

    Saturday, February 25, 2023 

    1:00 pm to 4:00 pm

    (Pacific Standard Time)

    Plank

    98 Broadway

    Oakland, CA 


     @tamerawhite thanks for the extra information on your Oakland investors network. I’m not able to make those meeting but look forward to hopefully join your meeting in the near future.

    0Reply
  • Randy Bautista
    Member since 2022 · 6 posts · 2 votes
    3y
    Quote from @Mario Ponce:

    I’m in the east bay. Concord, Walnut Creek area. I’m always down to talk investing. I have a large network out here. What are your goals?


     Hey Mario, 

    Im in Pleasant Hill. We should meet soon and see if we can work on some projects. 

    0Reply
  • Wilson Lau
    Real Estate Agent · San Jose, CA · Member since 2023 · 182 posts · 104 votes
    3y
    Quote from @Akshar Puri:

    Hi BP community - my name is Akshar and I am a new investor hoping to close my first deal this year.

    My background: I have worked in the hedge fund industry for over 4 years, and am now trying to diversify some of my wealth into real estate. I am most interested in running a buy-and-hold strategy, but I am unsure of whether I should start investing out of state, or in the area in and around the Bay Area. My main objective is to buy properties (preferably SFH for my first deal) with strong cash flow (looking for 6%+ cash on cash return), with some appreciation on top, which I know is challenging in the Bay Area. However, traveling long distances to buy and rehab properties out of state can be very time consuming, which is a large con for me given my very very busy schedule.

    I would love to connect with other investors located in the Bay Area, and am hoping to find some local REIA networking groups/meet ups (please let me know if you are aware of any!) I have been on BP for a few months, and I hoping to learn from other investors, find a mentor, and network!

    Looking forward to being a part of the BP community, and getting to know other investors!

    Happy to connect! I am based in San Jose as well. I also noticed a short of RE meetups in our area. If you or anyone here is interested, let's connect and we can set one up ourselves!

    If you are looking for buy-and-hold, California has many options, but for a cash flow + appreciation play, your best bet would be OOS.

    0Reply
  • Haseeb Awan
    Investor · Ottawa, Ontario · Member since 2016 · 225 posts · 46 votes
    3y

    Sure. I'll be down to join the meetup too. I am in Union City

    0Reply
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