Connecting with investors in the S.F. bay area.

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Connecting with investors in the S.F. bay area.

Carl Todd
Investor · Richmond, CA · Member since 2015 · 17 posts · 7 votes

Hi my name is Carl Todd and I live in the S.F. bay area. And I'm also new to this site. I am just finishing my first flip and I made a lot of mistakes. My learning curve has been incredibly steep, fortunately I'm still going to make a little money or break even. So i've spent a couple of hours on the site and I noticed there are not any posts or stories from here that are pertinent to this locality. It's probably because I'm not very adept at this site yet.  I was wondering if someone  could give me directions on how to find information and connections etc. a little closer to home on this site. And I also wanted you folks to get to know me little bit. I really appreciate all the honesty and the sense of integrity I get here. I currently work a full time job as a mechanic in sausalito Ca. I'm hoping to become a full time flipper within the next year or two, provided I Can start making money at this. anyhow it sure would be nice to connect with local stories and market data etc, or at least where to start looking.

Thanks and have a great day.  

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Dennis Jayy
Investor · Salem, OR · Member since 2015 · 85 posts · 22 votes
11y

That is a very expensive market.   Did you see where the smallest  studio sold for over 400,000 and was less than 300 sq ft .

Still had to pay hoa dues.

I would suggest to spend your time learning about the market there and concentrate on finding something that would be more of a holding property. Even if it was in bad shape  or very bad shape after repairs , I think it would be much better investment than  a flip of some sort.   If you  find a really good opportunity in a property you will not have a hard time finding someone  to help you with it  in some fashion.

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  • Dennis Jayy
    Investor · Salem, OR · Member since 2015 · 85 posts · 22 votes
    11y

    That is a very expensive market.   Did you see where the smallest  studio sold for over 400,000 and was less than 300 sq ft .

    Still had to pay hoa dues.

    I would suggest to spend your time learning about the market there and concentrate on finding something that would be more of a holding property. Even if it was in bad shape  or very bad shape after repairs , I think it would be much better investment than  a flip of some sort.   If you  find a really good opportunity in a property you will not have a hard time finding someone  to help you with it  in some fashion.

    1Reply
  • Carl Todd
    OP
    Investor · Richmond, CA · Member since 2015 · 17 posts · 7 votes
    11y

    Jayy Jayy, 

    Thank you so much for your response, I have a lot of family in portland and salem. Getting the money for the flips around here doesn't seem to be a problem if I find the right deal. Finding the deal seems to be the hard part for me as I don't have much time, working a full time job and all. And I really have my heart set on doing flips for now. Eventually when I build up my capital I will start working on more long term holding scenarios. Thank you again for your input.

    0Reply
  • Account Closed
    Investor · San Jose, CA · Member since 2012 · 2k+ posts · 3k+ votes
    11y

    Hi Carl,

    Welcome to Biggerpockets. @J. Martin both own rental properties in Richmond.  J hosts a monthly meet-up in Oakland and/or San Francisco.  Both of these guys are quite knowledgeable. You should consider reaching out to them to exchange ideas and stories. 

    Quitting your job to flip full-time in the next year or two might not be the best idea given where we are in the cycle of the housing market. I wish you the best in your real estate endeavors. It's a tough business, but rewarding if you can get over the hurdle. 

    Best. 

    1Reply
  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    11y

    Welcome @Carl Todd it’s a pleasure to have you here! You will find this a tremendous resource for all of your real estate needs. You may want to set up some “keyword alerts” to notify the topics that interest you the most.

    Wishing you the best!

    0Reply
  • J. MartinPro Member
    Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
    11y

    @Carl Todd,

    Are you flipping in Richmond? Would be happy to sit down and talk to you sometime, or take the ferry from Sausalito to SF for the next meetup and come meet lots of other investors! I own a 4plex and a couple single family homes there in Richmond, south of the BART station.. I'm still actively looking in the area, and I think there occasional deals there.. I just put in a no-contingency offer on a REO 4plex just above the BART station. But wasn't quite high enough...

    One way to learn is taking the lumps. But if you can learn from others' mistakes instead, it will be a little cheaper! ;)

    As @Account Closed does lots of flips, and might be able to give you some pointers. Thanks for the shout-out Minh! And don't worry Carl. Minh gave me the same advice on not quitting my day job.. And I think he's probably right! I'm just still not sure how long I can follow his advice ;) 

    1Reply
  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    11y

    Hey @Carl Todd welcome to the site! Definitely start jumping into the community here! Be sure to read through The Ultimate Beginner's Guide to Real Estate Investing to help you get started.

    Also - here's a couple articles you might enjoy:

    The 21 Best Real Estate Investing Books Ever

    How to Rent Your House: The Definitive Step by Step Guide

    How to Be a Landlord: Ten Tips for Success

    Finally -be sure to setup some keyword alerts - especially for "Richmond" so you can jump into local conversations.

    See you around the forums!

    Podcast Guest on Show #92
    0Reply
  • Michael Delpier
    Investor · Houston, TX · Member since 2015 · 176 posts · 121 votes
    11y

    @Carl Todd I think you have received some great advice already. The SF bay Area is a buy and hold market. There were a lot of flips in the late 90's and early 2000's, but this turned into a BRRRR strategy that @Brandon Turner has outlined in his webinar.

    Check out Podcast 001. Specifically the four flipping boxes. The Acquisition is going to be the issue in the SF area. losing-millions-house-flipping-podcast 001

    I remember searching for a house in the San Carlos/San Mateo hills. It was amazing to see all the contractor trucks in the driveways. My first thought was, "everyone is fixing their house". The reality was contractors were buying and holding these houses. These contractors are now very wealthy.

    1Reply
  • Carl Todd
    OP
    Investor · Richmond, CA · Member since 2015 · 17 posts · 7 votes
    11y

    Thank you all for your great advice, I really want to flip houses but given my circumstances this may not be the best thing for me at this time. Since most of my focus in educating myself has been geared toward flipping it looks like i'm going to have to learn how to get involved in buy and hold strategies. I'm going to get caught up on the podcasts that have been recommended to me. I'm a member of Bay Area Wealth Builders an REI group that meets in marin once a month. But I definitely want to expand my horizons. The meetup in S.F. sounds very interesting to me how do I find it, when do you meet and where, or is there a website for it I can get directions from. Thank you all again for the great feedback.

    0Reply
  • John Barnette
    Investor · San Francisco, CA · Member since 2015 · 60 posts · 46 votes
    11y

    welcome to bigger pockets.  I think you will find a lot of friendly advice, help, drama, discussion, and so on.  And more than a bit addictive.  

    I am pretty new to the site but have been in real estate for over 20 years.  Have done about 12 flips if I count correctly.  Anywhere from loosing about $4000 on my first to more than doubling my money in a month (and literally no work) on my most profitable investment.

    Invested in 6 buy and holds (7 doors) in SF and Richmond, CA.

    And a Realtor to boot.

    It is indeed a tough investors market in the Bat Area right now. Though not impossible. Either for flipping or buy and hold.  Though I have heard some of the more affordable areas of San Rafael may be a decent market and not the bags of tech money being thrown around.

    Also check out condos.  I have made good money on buy and hold and flipping condos. Not on many investors radar and guru Fortune Builders cautions against condos.  There are more variables but less competition.  And ugly 80's places are ripe for cosmetic makeover without plumbing, electric, structural (generally speaking).  

    An "Ikea" flip with good staging, good agent representation, etc.

    Welcome to the group!

    1Reply
  • Alex M.
    San Jose, CA · Member since 2013 · 39 posts · 5 votes
    11y

    I live in the bay area and its true, the strategy is different is different here.  This is my attempts at growing up and investing here. 

    -2012: SFH rental in Newark (currently has appreciated 200k+ and I'm considering selling to continue investing in midwest.

    -2013: MF duplex near Hercules area. I live and rent in this property which saves me from paying crazy rent and lets me save my cash. Appreciation is at around 130k.

    2015: (1) SFH + (1) MF Triplex in Ohio. These babies are our first try to buying out of state and our plan is to try buying 2 more in 2016 depending how they turn out.

    0Reply
  • Robert Musallam
    Investor · San Jose, CA · Member since 2014 · 294 posts · 113 votes
    11y

    Hey @Carl Todd welcome to BP! Hope to see a thread on your experiences! Best of luck on any future investments!

    0Reply
  • Mark Nolan
    Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    11y

    @Carl Todd

    Welcome to the BP community. You will find alot of good information here. Make sure to view the BP blogs under "Learn."

    0Reply
  • Erkang You
    Investor · Fremont, CA · Member since 2015 · 10 posts · 3 votes
    11y

    Welcome to biggerpockets! You have come to the right place, there are a lot useful information here and people are very helpful here.

    0Reply
  • Orion Walker
    Investor · Ukiah, CA · Member since 2014 · 196 posts · 83 votes
    11y

    Hey @Carl Todd, I'm up the freeway a little under 2 hours in Ukiah. I've got a bit of flipping fever lately myself, though so far anything I've been able to get into I haven't wanted to let go of. It does seem like a bit of a risky time to go big on flipping in the bay area as there's a lot of talk about being back up near the top of the cycle. 

    Best of luck. I drop in on some of the re events down there when I can. great folks. see you around.

    0Reply
  • Jill Rio
    Bay Area, CA · Member since 2016 · 11 posts · 4 votes
    10y
    J. Martin I see you mention SF meet ups here - I realize the post is from a year ago but am wondering if they are still happening. I see the two day meet up end of August but will be out of town for that. Thanks in advance for the info!
    1Reply
  • J. MartinPro Member
    Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
    10y
    Originally posted by @Jill Rio:

    J. Martin I see you mention SF meet ups here - I realize the post is from a year ago but am wondering if they are still happening. I see the two day meet up end of August but will be out of town for that. Thanks in advance for the info!

    Hi @Jill Rio,

    Still rocking in SF! We'll have having a meetup this Thursday, 8/11/16 in downtown SF near Embarcadero BART station. . Generally, you can find them in the events & networking section of BP when they are coming up, for meetups hosted by BP members. Hope to meet you out there! I'll open up the waitlist so you can make it in too ;)

    0Reply
  • Jill Rio
    Bay Area, CA · Member since 2016 · 11 posts · 4 votes
    10y
    Thanks J. Martin ! We are trying to change our plans on Wednesday so we can join. Hope to see you then.
    1Reply
  • Jill Rio
    Bay Area, CA · Member since 2016 · 11 posts · 4 votes
    10y
    Thursday that is :)
    0Reply
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