Please come welcome our special guests,
Bigger Pockets Founder & CEO @Joshua Dorkin and
Senior Editor & Community Director @Brandon Turner
for a fun night of BP Real Estate networking at this special SF meetup!The venue can fit over 100 guests, and everyone is welcome, so come say hello to your fellow BP members and RE investors, along with two key people who make this community happen!
What: BP Bay Area Master Meetup - SF
When: Friday, April 25, 2014, 5:30PM-9:00PM; Late night 9:05PM - ?
Where: Speakeasy Brewery (Brewhouse room)
1195 Evans Ave, San Francisco, CA 94124
Cesar Chavez exit off of 280 in SE corner of SF
Cost: Free; Bring cash for food and drink
Parking: Free in parking lot at venue, and free street parking for overflow
Food & Drink: Lots of Speakeasy Beers, and Mexican Food
Please RSVP by posting below, so I know how many are coming, and post a little about yourself below, tag others, etc, so you can make some connections before the meetup. I am scheduling this meetup in place of the monthly “East Bay Meetup” so we can have a venue where more BP members can join us, and we can hear each other better.
After 9PM, remaining after-hours folks will most likely be moving a few-minute drive away to Dogpatch Saloon, at 2496 3rd St, SF, 94107. Please check back on this posting the night before the meetup in case there are any unexpected changes.. but the meetup will be on! Thanks to Josh and Brandon for organizing the great community, and coming to say hello at the meetup! Also, special thanks to @Jaren Barnes for initiating our guests’ visit to the monthly BP meetup!
Hope to see lots of you there!
@Brandon Turner , sorry, your tag dropped off. Looking forward to meeting you there!
@Yuliany W. , @Eleanor V. , @Pete Tam , @Jessica Yau , and @Account Closed , thanks for the early RSVP's, and I apologize for the change in posting & location. But this different SF venue holds many more people, will be easier to talk, easier commute from South, no weather impacts from outside..
Looking forward to seeing you all there! Please post below!
As always, I post some local cities to give locals (or close enough!) a head's up..
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@Eleanor V. , @Pete Tam
I know it's a brewery, but I still have to ask. Do they allow kids? If they do, I'll take my wife and daughter with me. If not, I'll sadly go by myself. :(
This should be fun. Finally a chance to meet the "men". Johnson, you have to make it to this one.
In / Out of State?
In-State. Driveable distances to Bay. Maybe out of state in future.
'Fix and hold'. Buy w/ maintenance needed, fix up, increase rents/value
Type of properties?
Prefer 2-4 units, or multiple SFH's on one lot. Will also consider SFH alone.. Will look at MF and other commercial after tapped out on 30yr financing.
- More 2-4 Unit properties w/ GRM near 8 or upside in rents in the Bay.
- People who would like to network and/or join up with a non-profit to help give back and volunteer in the RE industry.
- Occasional equity and/or debt partners to increase purchase price on regular, ongoing purchases
Can offer / knowledgeable about?
Connections and references in the SF Bay Area; Advice on strategies, landlording, SF/Oakland rent control, loan terms, multifamily, financial analysis, economic analysis
@J. Martin I guess this is why the other thread was not accessible anymore. Wow, should be fun meeting the special guests. Have been listening to their podcasts for a while now.
@Minh L. Can I sign up for the carpool if there is space? I don't mind staying late :)
I'll get there myself, I might need a ride home just in case my nanny flake on me again.
Sure. I'll save a seat for you.
Thanks @J. Martin for putting this thread together. I'm excited to come out -- it's on my calendar!
I'm eager to jump into real estate investing, so I'm looking forward to getting to know some of you and discussion how you started, and what you're up to now. I've been reading a lot on the topic recently, and so this may be a chance to solidify some bits of knowledge that have been floating about.
"Will look at MF and other commercial after tapped out on 30yr financing."
J, I don't get this. Why would you want to wait getting into MF when you can borrow commercial loans at 3% now? :)
Btw, when I hear MF, I envision 5+ units, not 2 to 4 units. I'm in the process of making an offer for a 10-unit bldg. I like this building so much that I would sell my soul to own it. Of course, the numbers still have to make some sense.
@Luke Morris , glad to have you out to share some ideas. I started with a 3.5% down FHA loan on a 4plex, and set the foundation for my RE investing.. I think it's a great way to leverage your capital if you're flexible on where you live..
Minh L, you know I love that 30yr fixed! I'm trying to retire on these properties I'm buying today, as loooonnnnng-term buy and hold. So when rents are increasing over the next 6, 10, 15, 30+ years, all that is gravy money to the bottom line for me - I don't have to share those "excess" profits with the Bank in the form of higher interest rates on variable-rate loans. I like MF also, but would rather have longer fixed rate. (I also refer to MF as 5+ units).
But I can't pass up 30yr fixed-rate money at 4.5% right now. 4plex is 30yr fixed at 3.25%. SFH's 30yr fixed in mid-4%'s. 30yr fixed rate.. I just turned 30yr old.. But I don't think you even have to look at a 30yr chart to see why I'd rather take 30yr money over 5yr money for a 150bp spread at origination. The last cycle had LIBOR rates about 300bp higher than now on average, up to 500bp higher at peak. Prior cycles were even higher. None have been lower.. I'm not saying rents won't keep up.. but why share all those percentage points of asset returns?
The 300-500bp increase from today's rates compared to years 5 through X means missing out on about an extra 5-9% ROE every year relative to today's fixed rate, with 3X leverage. And that's if rates don't go higher.. Even if you TRUST the Fed (FOMC), they state themselves that they will have to raise rates significantly from these unprecedented levels eventually. If you don't trust them, or think inflation or rates could rise more significantly than current expectations, then it makes even more sense.. I still like MF and not totally against variable rates. Long term fixed is just too attractive to me at these spreads and nominal rates though.. @Minh L. ps. I don't think any kids allowed at the brewery Minh. I'll try for the next one..
@Minh L. I would like to carpool. Meeting with very special guest so don't mind staying late. I will let you know if anything changes on my side. :)
@Yuliany W. Hoping to meet you and hear about your investment ideas.
@Minh L. I will car pool with you, if there is room.
@JMartin, Thanks for putting this together !! Really excited to join
I plan on being there..
I do mostly out-of-state buy &hold and virtual wholesaling of SFH.
Would love to share information and to network with other Bay Area wholesalers and fix & flip investors as I would like to start wholesaling in the Bay Area.
Thanks for the thread . . . I know that @Brandon Turner and I are looking forward to linking up with everyone. See you there!
I am in and just marked it on my calendar.
looking forward to seeing everyone.
@Minh L. Yes I would like to carpool with you :). Would be great to catch up again.
@J Martin, I set up the SF meetup last week and I thought I did pretty well with 20+ folks. You come back with a SF meetup next week at a 100 person venue with Josh and Brandon?!? I can't compete with you J, you are the man!
I completely agree with your 30 year rate sentiments, I am having a hard time figuring out if I want to go the syndication route or buy homes in Houston. I wish I had the cash to do both!
@Minh L., I'll see you there, Friday night works well for me and it will be my last week in town for some time.
Looking forward to meeting Brandon, I've met Josh already, he is alright.. :)
In State / Out of State?
Both! I have been investing in Phoenix and in Las Vegas recently. Currently, performing due diligence on investing in the North Bay SF and Houston.
I have several SFH rentals and completed two flips in Phoenix. I recently purchased a vacation condo in Las Vegas that is running smoothly on AirBnB.
I am either looking to buy SFH in Houston or buy a 10-50 unit apartment building in the North Bay and syndicate it with partners. I have not decided yet and I am open to any opportunities.
Type of properties?
SFH or apartment buildings.
Looking for deals with apartment buildings in the North Bay, connections for the North Bay and Houston and investors experienced with syndication.
Can offer / knowledgeable about?
Investing in rentals out of state, flipping out of state, vacation rental on AirBnB. Also, I am very familiar with the San Francisco market, commercial financing, cash out refi's and Homepath loans.
@J Martin, can I pitch at this one? Be careful, @Minh L. may get credit for organizing this meet up too! LOL
Awesome! I'll be BART'ing in from Walnut Creek if anybody wants to ride together.
Speakeasy!? One of my favorite venues in SF, off the beaten path and a true gem. Looking forward to it.
Hey All, definitely looking forward to this one. Thank you @J. Martin for setting up what looks to be a great opportunity to meet our BP overlords.
Won't go into too much detail of current strategies I'm looking at mainly because I have yet to gain first hand experience as an Investor but I will say that I am very much interested in going the FHA route to kick things off. Noticed you also found your start in this manner J so hoping you'll let me pick your mind on the risks/rewards things to keep an eye out for of that path.
Interesting article that was on TechCrunch this morning providing good detail on the state of the Bay Area housing market today with some historical background. A bit lengthy but a good summation of the supply versus demand problems we're currently facing and why this is a policy/political issue more than just a black and white battle between the haves and have nots. For someone relatively new to the area (~5 yrs) this helps provide some good historical precedence complete with pictures :)
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