Flipper/Rehabber · Bay Area, CA · Member since 2016 · 32 posts · 2 votes
I need help deciding where would be the best place to invest in Northern California, southern Oregon or central Nevada.
I really am worried about buying a place and then not knowing if it will sell right away
Any advice or info would help
Thx
Reno, Sparks, Carson City are very tight markets... low inventory levels <3 months supply and rental income has not keep up with the housing appreciation pricing. There are still opportunities but you really need to dig to find.
I am biased as I live in CA and love it here. I think you need to evaluate what you personally want out of this. The other areas outside of NCA will not have as much upward equity growth as CA. The numbers over the years always show that. With all of that the other areas have an appeal as they are often newer at a lower price point. What is your personal goal?
Thx peeps
Personally, eventually I would like some MFR to have as my main income generator.
I was thinking that to begin, flipping houses would be the best method to generate cash flow, so I can put a large down payment down on my first MFR.
At present I am willing to invest 50-75k.
Do I have the right idea, or am I way off?
What about investing in properties on the east coast or down south?
I can't help you with advice on where to look but with my limited experience I CAN say - Don't buy a flip that you can't drive to at least a couple of times a week. Whoever it is that's telling you "they'll look after it" - well they won't. And they'll think you're a fool and they'll take advantage of your goodwill and lack of knowledge. A good contractor likes to work with a 'boss' who knows what they're doing and is close when last minute changes and decisions need to be made.
You will hate learning this from your mistakes - learn it from mine instead. Please.