Hello New Here from San Francisco Bay Area

12 Replies

Hi,

I own four houses here in the San Francisco Bay Area.  One of them is my residence.  The others are rental properties.  Believe it or not, I don't know much about rental investing.  I want to learn how to become a smart investor and increase the amount of rental properties I have.  I also want to learn how to flip houses.  Thanks for any insights you can provide for me.

Welcome to the BP community. Ok, now that you have taken your initial step to learn from us while simultaneously sharing your knowledge, experiences and thoughts, below are some quick links to get engaged.

Congrats on your current holdings and I am sure with the BP community's help and the knowledge gained through interactions at this site will help to increase your portfolio.

Hey @Thomas Seay welcome to BP! You're definitely in the right place to learn ALL things real estate.

I would suggest you check out the BP store http://www.biggerpockets.com/store and get a copy of the Book on Flipping Houses & The Book on Estimating Rehab costs. Very detailed and very informational for the novice flipping investor. 

As for acquiring more rental properties, (in my opinion) it's best to team up with an agent who understands the market in the areas you're looking to invest in. They should also have a team ready to assist you in every phase of the transaction (lender, inspectors, etc...) Furthermore, that agent should be able to find & analyze the deal for you as opposed to the other way around. 

If you have any questions about our market, please do not hesitate to ask. And best of luck on your future investments!

Thomas,

Welcome to Biggerpockets. You're doing quite well for not knowing much about rental investing. Given that you own 4 houses in the Bay Area, you're doing better than 95% of us provided that the properties are not upside down. :-)

Real estate in the Bay Area has created a lot of millionaires. Well, at least on paper until realized. If you can find deals to flip here, you're golden since the profit is huge. Of course, having money would really help to ease the learning curve. 

Go to meetup.com and check out local real estate investing and networking associations/clubs. Attend the meet-ups and rub elbow with other investors and see what you can share and learn from them. There are so many strategies in real estate investing. See which one best suits your personal situation.  As you already know, everything in life has a price. Real estate is about location, location, location. A property is cheap for a reason so is expensive. 

Have fun investigating and investing. It should be a fun and rewarding experience. 

Originally posted by @Thomas Seay :

Hi,

I own four houses here in the San Francisco Bay Area.  One of them is my residence.  The others are rental properties.  Believe it or not, I don't know much about rental investing.  I want to learn how to become a smart investor and increase the amount of rental properties I have.  I also want to learn how to flip houses.  Thanks for any insights you can provide for me.

 Hello Thomas,

You are on your way to BRIGHT and SUCCESSFUL future within the real estate investing industry. You have already taken a few steps in the investment process. You just need to continue taking one step at a time. Also, tackle the investment channels which you feel really comfortable with investing your time and efforts.

Good luck with everything!

Welcome Thomas! Well that's impressive you own 4 properties and don't know anything about them :) Are they profitable? Either way...welcome to BP and happy to have you join us!

Welcome to the site! There is an unbelievable wealth of information on here. 

I hope to see you soon at one of the meetups! I am new myself and will be attending the very next one I am in town for. 

Good luck to you!

Originally posted by @Ali Boone :

Welcome Thomas! Well that's impressive you own 4 properties and don't know anything about them :) Are they profitable? Either way...welcome to BP and happy to have you join us!

LOL Ali, what I mean to say is that despite owning those four properties I am not very savvy.  I hope to become savvy through this site though :)

Welcome to BP. You will learn a whole lot by reading to start up guides and spending 20 hours searching through old topics. The collective wisdom of this group is very impressive.

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