Haven't bought a property in almost a year - potential markets

9 Replies

Hello everyone! I have been hiding out for a few months, mostly just traveling and reading up on investing in equities of all things (which I have always been skeptical of).

I bought my last property as a single owner in Jan. 2017, it was actually a Turnkey property in a pretty stable market in the South. Since then, I have been investing $50-100K here and there in large apartment syndications. Maybe I have been to lazy, and maybe this is too broad of a question.

I have always wanted to own a condo or home in California, but I know even local investors seems overwhelmed there. What markets in the inland or even around the Bay Area, SF, or LA do you like? Any up and coming cities or towns worth a look?

I am not looking to be spoonfed a secret sauce (because there probably isnt one), more to spark discussion amongst ourselves to see what markets are worth a second (or first) look. I like 3+ unit multifamily.

What is your goal with buying a property in CA? Just to own it, or do you actually want cash flow, etc.? And 3+ units...do you mean 3 or 4 to stay in residential category or willing to go to 5+ in commercial category?

Originally posted by @Ali Boone :

What is your goal with buying a property in CA? Just to own it, or do you actually want cash flow, etc.? And 3+ units...do you mean 3 or 4 to stay in residential category or willing to go to 5+ in commercial category?

 I want to own a property near the Bay because I think I may want to settle there after the service. If I can get past the beating y'all take on taxes as a California resident. Also, I don't mind a little negative cash flow if I know I will get long term capital appreciation with the property.

Originally posted by @Lane Kawaoka :

Andrey Y. Hit me up when you are in Honolulu.

 I will be back on Oahu in late January to check in on my rentals. Hit me up via PM on here if we don't already have cell #s. Always up to grab some food and chat real estate/honolulu/HI market. Lets do a deal! Looking forward to doing a little surfing and hiking as always :)

@Andrey Y. Let's connect when you are on island. I have a SFH in Anaheim, CA.

If you figure out how to get past the tax beating, do share! :) Would you be financing the property? If so, you'll have to get a tremendous amount of appreciation to make up for all of the expenses (mortgage interest, being a huge culprit). 

If we were in a crash, I'd say eat it up, for sure. But prices are so high, that's a tough one. Better to buy now and assume appreciation will supersede what you pay, or wait and see if a crash (to any degree) happens which will make the appreciation play an amazing play.

Originally posted by @Andrey Y. :

Hello everyone! I have been hiding out for a few months, mostly just traveling and reading up on investing in equities of all things (which I have always been skeptical of).

I bought my last property as a single owner in Jan. 2017, it was actually a Turnkey property in a pretty stable market in the South. Since then, I have been investing $50-100K here and there in large apartment syndications. Maybe I have been to lazy, and maybe this is too broad of a question.

I have always wanted to own a condo or home in California, but I know even local investors seems overwhelmed there. What markets in the inland or even around the Bay Area, SF, or LA do you like? Any up and coming cities or towns worth a look?

I am not looking to be spoonfed a secret sauce (because there probably isnt one), more to spark discussion amongst ourselves to see what markets are worth a second (or first) look. I like 3+ unit multifamily.

For LA areas maybe check near Ventura County, Camarillo, Conejo Valley , 101 freeway etc. Then maybe Santa Clarita Valley ( LA County)  as I understand they are building 21k homes and 13 million sqft in commercial space up and coming. Also any of the good suburbs of SFV valley might be nice.  

Good luck!

Updated 7 months ago

I forgot to mention Santa Barbara condo perhaps.

@Matt R. noticed you're in the area! We have a bigger pockets meetup every 3rd Thursday of the month in Northridge if you're intersted in joining us. 

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