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.
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).
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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.
@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.
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...
@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".
Welcome to bigger pokets community!
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..
Thanks for the shout out J. M.
I was most assuredly joking about my typical lunch.......I just aspire to that sort of daily cuisine. Ping me if you ever want to talk shop. We all started with no experience.
@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.
Here is some info on financing in high cost areas - like San Jose
I am always glad to answer any financing questions.
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?
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