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).

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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".  

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..

@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?

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