Trying to get started in the San Francisco East Bay Area

7 Replies

I'm in the Pinole, CA area and trying to find my first deal. Is anyone familiar with this area and market and can suggest any marketing or deal strategies that I can start with here? I don't have any capital to start with so I need to be creative. I also want to meet and network with other investors in the area. Any thoughts and suggestions are much appreciated. Thanks, Ian

@Ian Kemp It's going to be nearly impossible in the Bay Area to flip a property without any capital or financing due to how competitive the market is here. 

I would try to find an investor (perhaps connect on here or at a local Meetup) who would be willing to mentor you and where you could work for them and learn the ropes while you acquire capital to fund your ventures.

I thought that might be the case. I definitely plan to do some networking and hopefully find a mentor and potential lenders at a local reia. I was planning on checking out Bay Area Wealth Builders in Corte Madera. Are there any that you can recommend, preferably in the East Bay? Thanks for your feedback Houston

Hi Ian,

I'm also in Pinole and my wife and I are also in the process of finding our first rental property.  I'm currently looking in Richmond, Vallejo, San Leandro, and Sacramento as options for my investing because I think we can only get a property for $500k or below.  If you haven't owned a house before you can get into a house or duplex-fourplex for 3.5-5% down.  You can House hack it.

  If your brand new to this world, my advise to use realtor, redfin, or other MLS site and a rental property calculator and start analyzing deals, all the ones you can in whatever area your interested in.  It will force you ask questions and answer all the questions you don't know to ask yet.  use craiglslist to find the rents.

   Listen to the podcast, set up keyword alerts in the forums, and read books.  You'll be surprised how much more you'll know in a matter of weeks or months.  

  Also there is a (how to flip a house) event that David green is hosting in Brentwood on sep 27th.  If you can go to that I'm sure you can meet people and ask questions.  If your interested, go above to networking, events, and type in your zip to find the info.  

I'm still learning as well Ian so I can tell you everything, but no matter the question you have I'm sure can find answers here.  

  

Originally posted by @Ian Kemp :

I thought that might be the case. I definitely plan to do some networking and hopefully find a mentor and potential lenders at a local reia. I was planning on checking out Bay Area Wealth Builders in Corte Madera. Are there any that you can recommend, preferably in the East Bay? Thanks for your feedback Houston

There aren't any I recommend in East Bay since I haven't been to any/know of any out there but I'm sure there's a few on Meetup. I host one in SF, and there's a few that are hosted downtown pretty regularly - just be careful of people trying to sell you solar panels or trying to get you to invest in land in Costa Rica and whatnot...

The one that is hosted in Milpitas is supposed to be very high-quality but I haven't made it out there yet! 

Ian, 

Time, Resources (deal), or Money, which one do you have? If you don't have the capital to start, can you find the deal and put in sweat equity to make it work. Sort of House Hack + BRRRR would be able to work as well. The FHA loan house hack is a great way to start especially in the area you live in because they are still within the FHA limit (I believe) We need a lender to confirm. Good luck.

Lynn

@Ian Kemp I think most people overthink this a bit. Here is my logic - if you can find a deal, I (anyone) would buy it. If you get the deal at a low enough price, I don't mind paying you whatever you want as long as I still make the profit I need to in order to take on the endeavor. If you are at all short on capital, that should be what you focus on. This will open up an opportunity to partner (if you want to stay involved) or get a check so that you can move on to the next deal and then keep that one in-house if you want. I guess what I am saying is if the price is low enough, you should not stress about figuring out how the capital/money side would work. There are plenty of people trying to get deals every day!