Newbie in Bay Area

10 Replies

Hi members,

I am new to BP. Have read some articles over the years. Looking to start heading down this path into a more dedicated full time mode over time. I have been listening to the podcasts and reading. I am looking for guidance and mentorship in the Bay Area (where it seems impossible to start). Everyone says start in your background, but with prices in the $700k-$1M range I don't see how.


I work in the valley at a high tech company in a successful leadership role and have run my own businesses in the past. Looking to make a life change.

Everyone talks about a San Jose meetup. Can someone share the details? I am looking to meet and speak with others in the Bay Area who have started with no experience and are willing to share their stories. Coffee/lunch is on me.

Thanks,

C

@Claude Robinson III

Welcome.  Search meetup.com for local meetings.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers).

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul 

Claude,

Welcome to Biggerpockets.  You have found a free on-line real estate goldmine.  Start digging.  Like anything in life, you get what you put in.  

It's a good thing that you don't see how people can invest in the Bay Area.  That means less competition for us.  Woohoo!!!

@Johnson H. hosts a monthly meet-up in North San Jose.  It's free to attend.  Here is the link.

http://www.meetup.com/SF-Bay-Area-Real-Estate-Investing-Club/

@Jeff Pollack also hosts a monthly meet-up in San Jose bordering Saratoga.  It's also free to attend.  I know Jeff doesn't promote it a lot so I'm promoting it on his behalf, and hopefully he will put me on his payroll.  His next meet-up should be a good one to attend.  Here is the link.

http://www.biggerpockets.com/forums/521/topics/182...

Welcome aboard.

The bay area is a very hard market and you need a bunch of capital however I have been investing in the northern bay area for 5 years now and have gotten SFR homes for under 100k and renting at a 10% cap rate. Not impossible. Out of state is more lucrative.

If you looking for some tips or some properties that we have have for sale I am more than happy to help. I can shoot you deals and do the remodels if you choose.  General contractor bye trade real estate investor by luck...

Good Luck

@Claude Robinson III , welcome to BP.  The Bay Area market can be a bit daunting with its rather large numbers and all.  But if there us a will there is a way.

PM me.  Depending on where you are physically located I may take you up on that free coffee/lunch.  For lunch I typically dine on lobster and filet mignon.  Escargot appetizer, of course.  

As Minh mentioned (I'll buy you a beer Minh.....that's about as "payroll" as it gets), I run a meet up in San Jose, though it may not be the one "everyone talks about".  

Jeff Pollack, Trident Equity Group | [email protected] | 650‑533‑8534 | https://www.meetup.com/San-Jose-Real-Estate-Networking-Club/

Hi Claude!

Welcome to bigger pokets community!

@Claude Robinson III ,

It's definitely more expensive here. But I was able to accumulate over $1MM in the East Bay from literally nothing a few years ago. The biggest boost to my start was buying a 4plex with an FHA loan. But not everyone has the flexibility/sacrifice to move to a place that it works in.. Separately, I bought a 4plex in East Oakland last year for $430K after rehab($385K purchase + 45K rehab), and it does over $60K/yr in gross rents.. So not everything is in the $1MM range.. But they're definitely not Palo Alto tenants either!

I've been to @Johnson H. 's meetups and @Jeff Pollack 's - both good. Different. Johnson's is just networking with no speakers. Great group of investors. And Jeff always has a guest speaker, then some networking (and good beers at Hoffbrau!). Johnson and I have the same format, with a different mix and a few more people in San Francisco every month (check out signatures). So hop on BART and come say hi! The bigger/better the network, the better off you are! So check them all out!  Also, look for Joe Metz' meetup in Fremont since it's in your back yard..

Medium logoJ. Martin, SF Bay Summit | [email protected] | 510‑863‑1190 | http://www.sfbaysummit.com

@Claude Robinson III  I live in the Bay Area but I don't invest here other than my primary residence. I have an office in Fremont if you ever want to meetup. 

I have properties in the Antelope Valley and an apartment complex in Fresno. 

Originally posted by @Anthony Contento :

The bay area is a very hard market and you need a bunch of capital however I have been investing in the northern bay area for 5 years now

How far North are you?

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you