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Investor · San Francisco, CA · Member since 2010 · 910 posts · 889 votes
It's been awhile since we had a San Francisco meetup and I had a great time at the East Bay meetup that it would be worth while to start it up again. I am going to take a page (ie copy) out of my buddy's @J. Martin meetups and have the same layout.
Come one, come all! Join us to meet with some great people, talk about all aspects of real estate investing, and make some local connections in the Bay. For those who are coming, please introduce yourself on the forum by copy and pasting the questions I filled out in the post below, then replace my answers with yours. This way, everyone has an idea of who we are and who they'd like to target when we meet up. Everyone will have a chance to introduce themselves in a circle there. I look forward to seeing you all.
What: San Francisco Meetup - April Edition
When: Thursday, April 10, 2014
Where: S & R Lounge
Inside Hotel Zetta 55 5th St San Francisco, CA 94103
(between Mission and Powell)
This is a beautiful location as Hotel Zetta is newly renovated. Tasty drinks/beers, and food available. We have a reservation for a large table in the corner of this lounge good for 10-15 people and the space can easily accommodate many more. I picked this place as it is bright and quiet, not crowded with plenty of space to accommodate everyone, and close to BART/MUNI.
Get There: Take BART/MUNI to Powell station. It is less than a 3 minute walk from the station. The hotel is right next to the Westfield Shopping Center.
Parking: The closest parking lot is at Fifth & Mission which is just a few minutes away. From 6pm-midnight, rate is $1.50 an hour.
Food and drink: There are drinks available, appetizers, and a menu. You are responsible for the cost of your own food and drink, if you choose to have any. There is no “minimum” or cost for the meetup beyond what you choose to spend.
Looking forward to meeting new investors and seeing familar faces.
Regards,
Johnson
Keywords:
East Bay , East Bay Meetup , Bay Area , Meetup , Meet up , Meet-up , San Francisco , Oakland , Berkeley , Alameda County , Contra Costa County , Solano County , Richmond , Hercules , Concord , Albany , Pittsburgh , Marin San Rafael , South Bay , Peninsula , Walnut Creek , Pittsburgh , Antioch , Pleasanton , Fremont , Castro Valley
Investor · Bay Area, CA · Member since 2014 · 63 posts · 77 votes
12y
Thanks @Johnson H for organizing. I am new to BP and am looking forward to the opportunity to meetup with @Amit M. and others.
In State / Out of State?
Investing in-state now - 3 single family homes (just adding 4th). Interested in learning about other strategies.
Strategy? 'Fix' and hold. Buy them in a state that the agent doesn't want to walk into them. Then fix them up for the long term (better than own home), and rent near top of market. Strong rental demand but rent will be < 4% cap rate (when there is no leverage). Expect appreciation (but less than the 40% since 2009). Aim for them to pay 100% of 30 year mortgage.
Type of properties?
SFH only so far.
Looking for?
A check whether my strong tilt towards appreciation should be mixed with another strategy. Education about other strategies such as multi-family and commercial. Also interested in startup businesses.
Can offer / knowledgeable about?
Limited experience since 2009, but happy to share.
Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
12y
@Andrew Strauss , glad we'll be able to chat more at the meetup, and I'll get ahold of you and @Sam McClellan about doing lunch down there on the same day, or another.. This week is a little slammed, but should have some more free time next week, depending on how a couple offers go..
@Kathryn M. . . , I think you and @Minh L. . are on the same track down there, to some extent. But he's doing MF deals now.. It's hard to get the cap rate up on deals in the peninsula. Unless you buy at lower cap, and turn it around, as Minh plans. It's appreciation-oriented from an income perspective.. But these aren't "turnkey" deals.. Talk to him at the meetup..
I buy in the lower-income areas of the East Bay where cap rates are higher (~5-9%) and GRM's lower (around 8 or so), with additional upside to go in rents, to drive the cash flow and value higher. Then I fix them up, actively manage at near zero vacancy (1 day turnovers), and hold for longer-term w/ 30yr fixed rate financing.
Rents & prices are skyrocketing everywhere, and these areas get the overflow of people priced out of the prime markets (mostly from the SF/Oakland & surrounding markets). Appreciation is also very strong, but I think will be less reliable/consistent than prime "A" areas. Still 1/2 of peak prices though.. And below replacement cost, at $110-$150/ft. With rents near $1.50/ft/mo or more in some of these places. I like picking up the cash flow, and the equity is building quickly.. so I feel like it's the best of both.. But if the market crashes again, these B/C area prices will drop much more quickly, and further, than A areas.. - again.
Bay Area, CA · Member since 2014 · 32 posts · 12 votes
12y
Thanks for organizing @Johnson H. I'm trying to see if I could get off early to make it to this meetup. I really want to meet everyone and exchange ideas. Is this event open only to members? A friend wants to tag along. Would that be a problem? Thanks again!
Investor · San Francisco, CA · Member since 2010 · 910 posts · 889 votes
12y
@Eleanor V. - Everyone is welcome! I initially said 10-15 people for the reservation but when I checked out the lounge, it has plenty of space and wasn't crowded at all.
Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
12y
@Andrew S and @Sam McClellan, unfortunately, I can't do lunch today because Ill be super busy wrapping up an assignment. But I'll be at the meetup, and working in SF FiDi for the coming 2 weeks if you guys want to do a follow up later..
Investor · San Francisco, CA · Member since 2010 · 910 posts · 889 votes
12y
@Account Closed - Normally you would have to look out on the forums or have someone tag you to notice the new post. Setting keywords would also help. I am trying to keep this a regular thing so if you like to leave your email with me, I can email you when the next meetup will be.
For everyone else, I am on my way! Definately be there before 6:30pm.
Investor · San Francisco, CA · Member since 2010 · 910 posts · 889 votes
12y
Last night was a great success! I believe we had over 20+ BP members attend. Thank you everyone for coming together to talk about real estate!
I had a great time with chatting with many of you. Unfortunately I was not able to make it around to talk to everyone but I am looking forward to the next meetup so we can chat. If you like, msg me your email and I can notify you for the next meetup if you like. I'll keep everyone in the loop for the next meetup, thanks for coming out everyone!
Investor · San Jose, CA · Member since 2012 · 2k+ posts · 3k+ votes
12y
Johnson,
I agree that was a great success for your first meet-up. I have a suggestion. I think you should hold your meetup in San Francisco on even months while @J. Martin does his in Oakland on odd months.
@Andrew Strauss , I hope you're the one that I talked to that night. You look much younger in person so that threw me off.
@Kathryn M. , you should consider uploading a picture of yourself and hope you had fun at the meetup and found it to be informative.
@Eric Nelson and Keelin, I hope you guys found the meetup to be informative.
J, I hate you for sending everyone over to talk to me. JK. It was great meeting all of you though. If we have a meetup on a weekend, I'd love to bring my wife and daughter.
Definitely enjoyed meeting you both, @Sam McClellan, @J Martin, @Andrew S., @Amit M. and others who I did not catch their BP names like Clair?, Keelin and Oliver - Thanks to all for sharing your investing strategies. I don't think any two strategies I heard were the same... Gave me a lot of to think about, as Andrew S said, "Strategies fit personal priorities and circumstances and they change over time."
It was very nice to hear that I am not alone in figuring some appreciation into total expected return. (but investment must comfortably support its borrowing). I know I will need to time to digest what I learned and mebe a few more infusions of wisdom :-)
Special thanks to @Minh L. for taking the time to generously explain some of the maths underlying your business model... apologies, but I am definitely not sorry that J pointed me in your direction!!!
@Kathryn M, great meeting you.. please connect on linkedin
@Amit M we'll have meet up and share our bayview ideas
@Minh L Thanks, for taking the time to explain your math like @Kathryn M said. The only issue it was a little loud so missed some of it. I'll have to meet up with you again in less noisy spot.
@J Martin, wow great stuff. Great ideas and strategies. If I can remember 50% I will be a success. Do we get a discount on your rings of joy :)