Hello from San Francisco

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Hello from San Francisco

Abraham Williams
Real Estate Investor · San Francisco, CA · Member since 2015 · 10 posts · 5 votes

Hello Bigger Pockets People, I'm Abraham Williams and live in San Francisco. I started investing in single family homes (probably the last time I spell that out here) in 2007 and have properties in Denver, Oklahoma City, and Charlotte. These properties are doing great and came through working with Adiel Gorel's network. Of course, I'm looking to expand and want to move into multifamily properties. My goals are to have 100 multifamily units and 30 houses in 5 years. 

I'm very fortunate to own my house in San Francisco but am kept very busy with work at a mobile tech start up in Palo Alto.

I found out about Bigger Pockets from a friend and am looking to learn strategies for financing that I can apply to reach my goals. I'm also looking forward to meeting members here and sharing what I have learned. 

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Brie SchmidtBusiness Member
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Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
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@Abraham Williams

 - As J mentioned I have experience in both types of financing.  Recently I have had some interesting conversations with banks willing to offer us favorable terms on longer term notes.  My suggestion is to build up what you can with your W-2 income.  Once you have a decent net worth and experience commercial will be very easy.  Some road blocks you will face is that once you get past 4 financed properties (they can do up to 10) you can't cash out refi on any investment property, so if you plan is to pull equity out to grow I would do it before you hit that 5th.  Once you get close to the $2 million mark commercial will take it and loan on favorable terms.

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  • Aaron Hall
    Real Estate Investor · Santa Rosa, CA · Member since 2014 · 60 posts · 33 votes
    11y

    @Abraham Williams  WELCOME.  It great to see more NorCal investors chiming in.  Looks like you are getting ready for the next stage of your investing.

    @Account Closed  is right,  it sounds like you are a good source of knowledge with your current level of success.  What has been the biggest challenge of investing out of state?  Investing in multiple markets - looking back would you do it again or stick with just one market?

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  • Mark Payne
    Real Estate Lender · Gilbert, AZ · Member since 2015 · 36 posts · 2 votes
    11y

    Welcome to BP.  This is a great place to learn about real estate investing as well as networking.  Enjoy!

    Mark

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  • Abraham Williams
    OP
    Real Estate Investor · San Francisco, CA · Member since 2015 · 10 posts · 5 votes
    11y

    Hi @Rhett Tullis@Aaron Hall@Mark Payne. 

    As far as investing out of state, I would do it again and again and again. I wish I had purchased 10x what I bought in Oklahoma City and Denver even though there was a huge crash right after I bought (I started in 2007). Charlotte has been level for me, but I think it's starting to rise because I'm getting letters from wholesalers. As far as multiple markets, I prefer that so that there is some diversification. There will be a point when energy markets change and OKC slows down. Then, I'll be glad for the other markets that have some insulation. That's what I "think", but I know that is only partially true at a high-level and the devil is always in the details and interconnectedness of the economy.

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  • Samir S.
    Rental Property Investor · Livermore, CA · Member since 2015 · 29 posts · 9 votes
    11y

    @Abraham Williams - My wife and I are newbie investors from the East Bay Area (still looking to make our first rental investment).  We are liking the idea of investing out-of-state more and more until we can build up a sizable cash flow before we invest a little closer to home.  Our plan is to invest in SFHs in A-class neighborhoods and build our cash flow stream slowly and steadily.

    Just wanted to wish you luck in your journey and also to say hello from a fellow Bay Area resident!

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  • Abraham Williams
    OP
    Real Estate Investor · San Francisco, CA · Member since 2015 · 10 posts · 5 votes
    11y

    @Samir S. thanks for responding. I'm on that same track and think it can be good when you find a place where the housing prices are high enough to prevent a lot of purchasing and the rents are high enough to turn a profit in a 20-30% down scenario. Those places definitely exist. Even if you find a great overall market, the submarket or neighborhood matters a great deal when it comes to growth over time. Working with a realtor who really knows the area and works with investors helps. I also visit the area and vet my recon.

    We dabbled in Class C. It's higher maintenance and higher cashflow, but my next purchases will be the higher Class in a great school district. 

    Abe

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  • Account Closed
    Investor · Daly City, CA · Member since 2015 · 3 posts · 0 votes
    11y

    Hi Abe,

    If you own in SF you probably have a lot of equity. Have you thought of doing something with that in San Francisco while we are in this Tech Boom?

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  • Ali Boone
    Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
    11y

    Hey Abraham, welcome to the party! I'm south of you, down in LA. Sounds like you are kicking a$s and taking names...keep doing what you are doing! I'm an out-of-state investor myself. I haven't heard of Adiel Gorel...what kind of network is it and what kind of properties?

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  • Anna Gonzales
    San Antonio, TX · Member since 2015 · 1 post · 0 votes
    11y

    I need help!  My son who lives in San Francisco wants to purchase a home.  I'm trying to help him since he works very long hours and I can't find any 2/2's that are under 1,000,000!  His budget is $700,000 and he is willing to take a fixer upper as long as it's in a good location.  Any body out there able to lead me in the right direction?

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