New to Real Estate · Sacramento, CA · Member since 2021 · 1 post · 6 votes
Hi Everyone!
My wife and I just moved to Sacramento 2 weeks ago from the bay. I work in tech and she just started a new job here for the state. We're currently renting downtown and looking to get started as first-time home buyers in an owner-occupied duplex situation to start our path in rei. We're open to other strategies, but believe that sounds the most ideal so far. We do want to settle in a little bit here while continuing to do our homework, but hope to get into something in the next 6-12 months.
With the way interest rates are looking now and what little I see on public listings, I think a smaller multi-family that needs a little rehab would be the best bet. I don't want to bite off more than we can chew with managing a full reno while we learn the ropes. I suppose something more turn-key could be a good option, but haven't come across many viable options there yet.
Anyways, we still have a lot more to learn and still need to familiarize ourselves with the area/market, but just wanted to pop in to say hi! We'd love any introductions and support from other investors, agents, lenders, or contractors in the area.
Real Estate Broker · Sacramento, CA · Member since 2021 · 517 posts · 408 votes
1y
I'm a local broker and investor and manage 100+ investment properties. House hacking is the best tried-and-true method for new investors in my opinion. Tons of value in learning property maintenance and tenant management. Landlord-tenant regulations are a bit complex in California and getting hands on is the best way to learn before expanding into larger investments.
Lender · TX · Member since 2024 · 308 posts · 197 votes
1y
Hi Michael, Welcome to BP!
Starting with an owner-occupied duplex is a great way to get into real estate investing while keeping things manageable. Focusing on smaller multifamily properties needing light rehab is a smart approach for learning the ropes. I'd also recommend joining local real estate meetups or BiggerPockets groups to connect with agents, contractors, lenders etc. I'd be happy to connect!
Real Estate Broker · Sacramento, CA · Member since 2021 · 517 posts · 408 votes
1y
I'm a local broker and investor and manage 100+ investment properties. House hacking is the best tried-and-true method for new investors in my opinion. Tons of value in learning property maintenance and tenant management. Landlord-tenant regulations are a bit complex in California and getting hands on is the best way to learn before expanding into larger investments.
Rental Property Investor · Sacramento · Member since 2024 · 17 posts · 8 votes
1y
Hello Michael ! Welcome to Sacramento :) I agree with the comments. House-hacking is a great way to start... I would not categorically rule out a triplex and/or quad plex though... Unlike the Bay Area, at least from my experience in Sacramento, i don't think the difference in down-payment from a duplex and tri-plex is that significant. And feel you'll have more options / strategies to explore with a tri or quad plex in the long range.
My wife and I just moved to Sacramento 2 weeks ago from the bay. I work in tech and she just started a new job here for the state. We're currently renting downtown and looking to get started as first-time home buyers in an owner-occupied duplex situation to start our path in rei. We're open to other strategies, but believe that sounds the most ideal so far. We do want to settle in a little bit here while continuing to do our homework, but hope to get into something in the next 6-12 months.
With the way interest rates are looking now and what little I see on public listings, I think a smaller multi-family that needs a little rehab would be the best bet. I don't want to bite off more than we can chew with managing a full reno while we learn the ropes. I suppose something more turn-key could be a good option, but haven't come across many viable options there yet.
Anyways, we still have a lot more to learn and still need to familiarize ourselves with the area/market, but just wanted to pop in to say hi! We'd love any introductions and support from other investors, agents, lenders, or contractors in the area.
Thanks, Mike
Welcome to Sacramento!
I am a house hacker myself and have 2 properties here that now cash flow. A nice multi family property that you can do some light fixtures on sounds like a perfect strategy for you so you and your wife can have your own unit. I am hunting these deals everyday, there are some good ones here and there. I specialize in STR & Co-living concepts, which I recommend for the highest rental income potential!
Real Estate Agent · Sacramento, CA · Member since 2019 · 502 posts · 273 votes
1y
House hacking is a great way to get started. I just helped a client buy a duplex in Sacramento. Within 2 days of closing, he already has a signed lease with a new tenant. The lending on owner occupant small multi family has gotten a lot better and allowed house hackers to enter the market. Have you locked up a property yet?
My wife and I just moved to Sacramento 2 weeks ago from the bay. I work in tech and she just started a new job here for the state. We're currently renting downtown and looking to get started as first-time home buyers in an owner-occupied duplex situation to start our path in rei. We're open to other strategies, but believe that sounds the most ideal so far. We do want to settle in a little bit here while continuing to do our homework, but hope to get into something in the next 6-12 months.
With the way interest rates are looking now and what little I see on public listings, I think a smaller multi-family that needs a little rehab would be the best bet. I don't want to bite off more than we can chew with managing a full reno while we learn the ropes. I suppose something more turn-key could be a good option, but haven't come across many viable options there yet.
Anyways, we still have a lot more to learn and still need to familiarize ourselves with the area/market, but just wanted to pop in to say hi! We'd love any introductions and support from other investors, agents, lenders, or contractors in the area.
Thanks, Mike
Hey @Michael Shean I'd love to connect! I'm based in the SF Bay Area and have been in tech the last ~10 years but I've been operating STRs and MTRs in Sacramento for the last 2 years. I'm looking for my first flip in Sacramento at the moment.