Bay Area · Member since 2019 · 29 posts · 10 votes
Good Afternoon,
My name is Tonya and I'm new to investing.I would like to know if anyone can recommend some good markets too start investing as a first time investor. I reside in the bay area so it's a little more capital to start here for me right now. My preference would prefer a multi family unit.Thanks, I appreciate your feedback.
Rental Property Investor · Oakland, CA · Member since 2014 · 730 posts · 1k+ votes
7y
Stick to the Bay Area. 3.5% down on a 4plex and live in one of the units. Same down payment $$$ if you are putting 20% down out of state where you have little control.
Learn how to be a landlord while benefiting from the great appreciation AND rent growth which cannot be found elsewhere.
Rental Property Investor · Oakland, CA · Member since 2014 · 730 posts · 1k+ votes
7y
Stick to the Bay Area. 3.5% down on a 4plex and live in one of the units. Same down payment $$$ if you are putting 20% down out of state where you have little control.
Learn how to be a landlord while benefiting from the great appreciation AND rent growth which cannot be found elsewhere.
Bay Area · Member since 2019 · 29 posts · 10 votes
7y
Hi Saj,
Thanks for that advice I never thought of that strategy. You are right it will be the same amount of money on the down and in the long term better appreciate.
Real Estate Broker · Alameda, CA · Member since 2013 · 105 posts · 41 votes
7y
@Tonya Kelly
I agree with Saj. We do exactly that as new investors here in the Bay Area (having graduated from the wannabe group after many years)! We landed a deal that we look at as subsidizing our personal residence (discounted purchase price versus a similar sized SFR as the unit were occupying). We were able to use FHA financing given we live in one unit as well. Additionally, having a local rental has allowed us to learn some tricky lessons in property management and strengthen that segment of our real estate brokerage before we get established out of state too.
Bay Area · Member since 2019 · 29 posts · 10 votes
7y
Hi Joshua,
Thanks, for your advice. As they say there is no place like home. I will begin searching in the bay area to see what I will find. Also the idea of being a being able to learn the property management side.