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Investor · San Francisco, CA · Member since 2010 · 910 posts · 889 votes
Hi All,
Last few months we have had over 20+ BP members attend, chatting about investing in the San Jose area and also out of state. @Jay Y. suggested this meetup and I am helping him post it. We welcome anyone who would like to attend!
When: Friday, Sept 12, 2014, 7:00pm
Where:Whispers Cafe and Creperie (outside patio)
(The cafe is in the same complex as City Sports and in the same building as Five Guys on the opposite side of the building.)
1085 E Brokaw Rd Ste 10 San Jose, CA 95131
Looking forward to meeting new investors and seeing familiar faces.
Regards,
Johnson
Keywords:
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Investor · San Jose, CA · Member since 2012 · 2k+ posts · 3k+ votes
12y
It was definitely another success meet-up for Johnson and Jay. Thank you for organizing it. It was nice meeting the new as well as familiar faces.
@Sam M. , congrats to you and your hubby. You guys got a steal on the deal.
@Marilynn Woodcock , good luck with your wholesaling endeavor. Just reach out if you ever need any help from any of us. Personally, I'll share what I know.
@Andrew Eaton , it was nice meeting and talking to you. You look younger in person compared to your profile photo.
@Troy Fisher , It was nice seeing you again in quite a while. Let's grab some lunch and exchange ideas. I'm available almost any day for lunch or coffee except weekends.
@Susan Gong , it's always nice to see you. Let's analyze that deal again. I still believe you can buy that piece of land for a much lower price.
@Kathryn M. , unfortunately, I have to agree with what J said even though you were only there briefly.
@Helen Chau , under promised and over delivered is my moto. I'm more than happy to share with you my spreadsheet on how I analyze deals.
@Yuliany W. , you looked fantastic. I thought you were dressed to kill. It was nice seeing you there.
@Kevin Auyong , I'd love to talk to you next time and learn about the process of doing due diligent for out of town investing.
@Kevin D. and @Ezra Nugroho , it was nice seeing you guys again. Sorry I couldn't stick around long enough to see the numbers on your deal. Can you email it to me Ezra? I just want to get a better understanding of these deals. Kevin, I'll let you know about the thing we talked about after I did my due diligence.
@Paul Cheung, hope you got the introductory email. Belinda said she will call you. Hope things will work out.
@J. Martin, my nephew told me this and it stuck in my mind. "when your bucket is full, you don't need to say much. Let individuals with empty bucket make all the sounds." I thought that was quite profound for a little kid.
Rental Property Investor · Las Palmas de Gran Canaria · Member since 2014 · 220 posts · 256 votes
12y
If you can't make this date or just can't get enough, there is a meetup in santa cruz this friday at 7:30pm: http://www.biggerpockets.com/forums/521/topics/143396-santa-cruz-meetup---august-29th-2014
If you can't make this date or just can't get enough, there is a meetup in santa cruz this friday at 7:30pm: http://www.biggerpockets.com/forums/521/topics/143396-santa-cruz-meetup---august-29th-2014
Shane, nicely done. You're definitely not letting an opportunity go to waste. LOL!!!
Real Estate Investor · Milpitas, CA · Member since 2014 · 26 posts · 19 votes
12y
I will be there. My DTI problem has made me the laziest, most passive investor out there. Anyone know how I can invest in real estate without doing any work at all? =)
I will be there. My DTI problem has made me the laziest, most passive investor out there. Anyone know how I can invest in real estate without doing any work at all? =)
Kevin,
I believe I just found one. It's totally passive, and the returns is around 15% - 20%. It's $250k minimum buy in so I'm thinking of me and a partner ($125k each). I can share it so we can disect it together. It's definitely not risk free though.
Investor · San Francisco, CA · Member since 2010 · 910 posts · 889 votes
12y
@Kevin D. - REITs maybe good for you. NYMT has been on a tear, I sold too early as the company has a lot of interest rate risk. I really like GPT, it has a great management team.
@Jordan Thibodeau - Any suggestions? If you can find a place with lots of parking, people can go in and out, no food or beverage minimum from the restaurant, and lots of space for people, and the servers don't get upset at us, maybe we can go the meetup after this. Having the right venue has been stopping my San Francisco meetups. It is really hard to find a place that can cater to large groups as easily as Whispers.
Real Estate Investor · Milpitas, CA · Member since 2014 · 26 posts · 19 votes
12y
@Ezra Nugroho Is it any different from the lending notes from the Crowdfunding sites? I was thinking about dabbing in some of that in a couple of sites. Let me know if you need a ride.
@Account Closed Risk and rewards go hand in hand. Looking forward to discussing more about this.
I will be there. My DTI problem has made me the laziest, most passive investor out there. Anyone know how I can invest in real estate without doing any work at all? =)
Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
12y
Is anyone at the San Jose meetup going to be driving back to SF/Oakland, or even near a BART station a bit higher up the peninsula?
@Johnson H. , I have to go down to San Diego a week after I get back from Philly, but I was thinking about flying into San Jose from San Diego, and that would make it easier to get to the meetup, as long as I can get back home after.. Always enjoy your meetups down there!
Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
12y
Just met someone targeting about 20% on a nationwide flip syndication (sorta like Brian Burke) and says he has a long track record in up and down markets over last 10 years. Haven't reviewed the docs yet, but let me know if you're interested in taking a peak, and I'll put you two in touch.. Accredited only..
Real Estate Investor · Milpitas, CA · Member since 2014 · 26 posts · 19 votes
12y
Originally posted by @Johnson H. :
@Kevin D. - REITs maybe good for you. NYMT has been on a tear, I sold too early as the company has a lot of interest rate risk. I really like GPT, it has a great management team.
Any suggestions? If you can find a place with lots of parking, people can go in and out, no food or beverage minimum from the restaurant, and lots of space for people, and the servers don't get upset at us, maybe we can go the meetup after this. Having the right venue has been stopping my San Francisco meetups. It is really hard to find a place that can cater to large groups as easily as Whispers.
@Johnson H. All my money is in stocks right now. The last thing I want to do is buy more stocks. However, I tried my first syndication recently. Riskier, less liquid, but at least I can depreciate it and offset it with my previous passive losses. We'll see how this goes...
There's a Roundtable Pizza in Milpitas that has a private room that can be used to meet up. Of course, the downside is it's Roundtable Pizza...
@J. Martin 20% returns with no work? You just described the perfect passive investment. =)
Investor · Milpitas, CA · Member since 2014 · 116 posts · 103 votes
12y
@Michelle Vu & @Richard Capatosto welcome to BP and to this community. There are many nice and knowledgable people here. @Account Closed It's technically similar, except that typically you'd buy a seasoned note on a personally owned property. Let say someone buys a house with a seller financing with 20% down, at 7% loan 15 years amortization rate. That 80% seller's loan will be recorded as a lien on the property. Later on, say 10 years later the seller needs a lump-sum of cash, the seller can sell that note to some one else, let say you. So now the buyer will be paying the remaining monthly payment to you. Typically the seller will take less than the note's value to get the lump-sum. That way your yield is actually much higher than the original 7%.
If the buyer fails to pay; you, being the lien holder, can actually foreclose the property on the buyer. Although messy, you may end up getting a property for quite cheap. Still takes a bit of research to find good notes. Did you say you don't want any work at all?? :)
Actually, if Note's too hard, RIETs is too boring, but you absolutely have no time, maybe buying turnkey properties is the way to go.
If turnkey produces too little, then you gotta talk to Yoda :)
There are some publicly traded mortgage REITs paying 10% to 14% dividends. Some REITs are paying monthly and some is quarterly. Of course, they are not risk free and can be very volatile.
Who said turnkey is passive? A lot of posts on here disputed it. Also, the returns are not very appealing IMO. OTOH, owning rental properties in the Bay Area is quite passive because your tenants are generally the cream of the crop. Well, maybe I have been lucky.
First time BPer here! Sounds like a great opportunity for some new knowledge. I'll see you all there!
=)
Welcome to Biggerpockets Richard. This is no doubt a great real estate website. A lot of knowledgeable folks here.
There are real estate meet-ups all over the Bay. There is one coming up on Wednesday 8/27 at Harry's Hofbrau House at 390 Saratoga Ave in San Jose. @Jeff Pollack and his partner are hosting it. Best of all, it's free. You can find out more by going to meetup.com
I will be there. My DTI problem has made me the laziest, most passive investor out there. Anyone know how I can invest in real estate without doing any work at all? =)
Kevin,
If you can find properties where 75% of rent covers your PITI, then you can get a loan without any issue. There's is a price to pay if you still want to get a loan. 30% down at 7% interest rate, or 40% down at 4.25%. Pick your poison.
If you want to share your personally situation with me, I'll see if I can help. I have a great loan officer that is extremely helpful. He can do loans where other lenders said no.
Full Disclosures: I may get a free lunch from him, but I don't get any referral fees.
See you there! Really looking forward to meeting you all.
Hi Sam,
Welcome to Biggerpockets. J Martins hosts a meet-up in Oakland once a month. It might be much closer for you to attend and network. We do have a great up in San Jose though. Feel free to reach out to any of us anytime.