Advice & Networking: Bay Area duplex for a 1st time buyer

Rental Property Investor · San Francisco, CA · Member since 2019 · 6 posts · 4 votes

I am new to RE, first time buyer. I would like to purchase a duplex anywhere in the Bay Area. Currently living in San Francisco, I can move for a house hack. I would feel comfortable buying 300-450k putting 20% down. I’m a self-employed business owner with no debt and a great credit score. I am willing to fix the property and hold it.

Is this a realistic $ range?

Will I have any luck in duplex foreclosures?

Would purchasing in Napa be a good idea? Or anywhere in Northern California? To then Airbnb it.. I have excellent hosting experience.

I’d love to connect, chat, or grab coffee with anyone who has knowledge in this area.

I would like to begin building relationships with people in the industry in hopes to find a partner after my first purchase.

I welcome all feedback. Thank you.

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Mike Bolen
Investor · Napa, CA · Member since 2016 · 95 posts · 62 votes
7y
A couple items.
Napa county does not allow airbnb except for a handful of properties that have licenses of which two are on the market currently and asking prices exceeds $4,000,000+. The city of Napa has 49 licensed Airbnb homes and the permit travels with the deed. Currently one is on the market with an asking price of $1,500,000+
In the 9 Bay Area counties the only county where you could stay in the mid $400's on a duplex is Vallejo. Vallejo happens to be the best market in the Bay Area and nationally to invest in real estate. Just Google news articles on Vallejo real estate. I currently own multiple properties in Vallejo and looking for more.
If you need a Realtor referral for that market let me know.
Thank you
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Jim BlackburnBusiness Member
Lender · Florida Based (48 states Puerto Rico) · Member since 2017 · 321 posts · 121 votes
7y
@Erica A.
In San Francisco or anywhere in California really, properties typically cost more.
Not sure if you own a house now. ..
With 90k at your disposal, instead of tying up 90k to control and participate in appreciation on 450k valued real estate...
Have you ever thought about controlling 1.448m in real estate with just $50k out of pocket, and keep 30k in reserves, and collect rent on 4 units?
Just 5% appreciation on a property valued at 1.448m is $72k per year in appreciation.
954-993-1625
Stairway Mortgage, a Division of NEXA Mortgage LLC597 Reviews
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