Taking Action Bay Area California

6 Replies

Newbie investor, longtime lurker.

What do I need to do to get the ball rolling? I'm 24 yrs old and have made some money on investing. I now have enough to put money down for a mortgage. With that being said I am self employed and have never had a good job. Finding a mortgage is going to be my biggest hurdle. I'm Located in a really competitive market, Bay Area, CA. (Homes are all over 500K) I have been researching all sorts of properties and understand bank owned properties need full cash. What I don't know is what type of properties I can get approved loans for ect. 

Where can I find good wholesalers in the Bay Area, California?

Best advice you have for a rookie that will have trouble getting a loan can put down 20%?

You might consider buying a multifamily property with an FHA loan and living in one unit while renting out the others, it will be tough and expensive in the Bay Area, but you might be able to find something in your price range.

Thanks Aaron!

Where do you find multifamily properties? At the moment I'm working on my real estate license and don't have access to MLS. Seems to me zillow, redfin don't show commercial properties.

also, without 2 years of income for the banks how will I get approved for a FHA loan? I understand you can use the going rent in the area toward your "income". I'm still very lost on how I would get approved with essentially only enough money for down payment.

You will have to show some form of income to qualify for FHA, once you get your license you can look on MLS under residential income until then Redfin does list multifamily properties the only downside to Redfin's feature is that builders often mislabel apartment/ condos as multifamily properties.


You can explore investing in an apartment complex as a passive investor.

Being an investor in the syndication allows you not to worry about getting a mortgage:)

If you want to learn more about apartments and syndications feel free to shoot me an email...



Agree with @Boris Lubovich . Syndication is a good way to get your foot in the door, learn from experts, have less responsibilities and liabilities, all while building a track record that a lender will consider in the future SFH loans. One key to keep in mind here though is that most sponsors will require that their passive investors are accredited. Here are a few blogs I've written that will get you started if interested in learning about syndication:



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