Hello all. I don't have any experience in REI except for buying/owning 2 homes. I sold my first house with profits and bought a bigger one. I live in the San Francisco Bay Area. Since California is one of the most expensive RE in the country, how does one begin investing here with little capital to begin with? Thanks in advance and glad to be in this forum.
Hello, California is hard to invest in with limited funds. I would suggest learning more about real estate, joining a local REI club and possibly build your credit and capital. There is an alternative, you can invest in other states but, I would suggest that you have more experience before you attempt that idea.
Residential Real Estate Agent · Sacramento, CA · Member since 2008 · 6 posts · 3 votes
16y
I would suggest that if you find a great deal, you will be able to find a buyer. If the numbers work, present them to other investors and they will buy.
This makes you a middle man, so you may want to consider getting your real estate license.
San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
15y
It's best to start out at your local REI club. There will be others there who may be doing what you want to do. It's best to network, find out who the players are, and get to know your local area. Hope that helps!
Landlord · Seattle, WA · Member since 2010 · 3k+ posts · 1k+ votes
15y
First of all welcome to Bigger Pockets.
Having purchased 2 homes you probably have as much experience as some of the RE gurus out there. Bigger Pockets is a great place to learn about REI. You can attend REI groups in your area as well some of them are very good and some are highly commercialized.
Starting out with limited capital is very challenging for a newbie even more challenging if your credit is poor. Challenging because it hard to attract partners with no experience. As a newbie you may not be familiar with some of the creative strategies that might close a deal with little cash. Also financing can be a greater issue.
You may want to network with others here that may have started in a similar position and find out how they overcame this.
Specialist · Cleveland, OH · Member since 2011 · 1k+ posts · 852 votes
15y
Welcome, Cali must be awesome!! I would flip contracts to get started with little capital. Even when you have a lot of coin, you will love the low risk and ridiculous high return! I have done it for years, and love it! You will get a lot out of bigger pockets! Enjoy! :mrgreen:
Real Estate Investor · CA · Member since 2009 · 10 posts · 1 vote
15y
There are a number of REIA clubs in the Bay Area.
I am from the Sacramento area and attend REIAs there, but an event I was at last weekend was co-sponsored by SacREIA and the Wealth & Health Network, which is based in the Bay Area. Their website is:
http://www.wealthandhealthnetwork.com/
Keep in mind there are several areas in California with easier price points than the SF area - but start by talking with local investors and find out what they are doing.
Contractor · San Jose, CA · Member since 2008 · 157 posts · 10 votes
15y
Originally posted by Scott Menke:
There are a number of REIA clubs in the Bay Area.
I am from the Sacramento area and attend REIAs there, but an event I was at last weekend was co-sponsored by SacREIA and the Wealth & Health Network, which is based in the Bay Area. Their website is:
http://www.wealthandhealthnetwork.com/
Keep in mind there are several areas in California with easier price points than the SF area - but start by talking with local investors and find out what they are doing.
I've attended SacREIA meetings before and they're a great place to network. The speakers cover a lot of information on alternative ways to finance properties.