Central Coast of California newby Investor

9 Replies

Hi everyone - I am a newby investor. I live on the Central Coast of California, half way between San Francisco & L.A. I currently own a rental in Albany Oregon that I have owned for the past 8 years. I purchased it with an interest only loan intending to sell it in 5 years when my daughter started college and use the equity for school. Instead the appreciation has been minimal but the cash flow after the fixed/interest only became variable, has been $600 a month, which was accidentally awesome. That will end in February of next year so I just put it on the market 2 days ago. I also just closed Friday on a fix & flip in Hawaii with my sister-in-law. It should be ready to put back on the market in early December. I really want to purchase more fix & flips and fix & holds to create cash flow. I have been looking in my area (Paso Robles, Atascadero, San luis Obispo & Morro Bay) but prices are so high I find it very intimidating and difficult to find something where the numbers make sense. My sister-in-law and I just got back from a trip to Akron Ohio on a reconnaissance mission. Found this forum while sitting in our hotel room researching areas after looking at houses all day. Hallelujah! We actually called Dell, an investor from Akron, we found on this forum, the next day. He gave us some good advice and pointed us to an area I love!  I am here to learn as much as I can and have immersed myself in reading and listening to pod casts (LOVE Josh & Brandon!) 

Welcome! I live in Atascadero as well and I simply cannot make the numbers work either, I'm in the same boat as you--looking to invest outside the area if possible.

Best of luck, sounds like you've got some experience already which is awesome!

@Ronda R. Welcome! You certainly stumbled onto the right site. The content in overwhelming, but any info you need about RE inventing can be found here.

I also live on the Central Coast and work between Paso Robles and Santa Maria, and also invest in Ohio, although Cleveland not Akron. Reach out if you want to meet up and chat investing.

@MatthewPauls Even though it would be nice to buy on the Central Coast, and I certainly intend to sometime in the future, it is so exciting to find an area like Ohio to invest in. My first visit was last week and I really loved it! Can't wait to go back.

@AaronMercer I hadn't really looked at Cleveland until just an hour ago when I was contacted by James Wise of The Holton Wise Property Group. After seeing what his company does and looking at the MLS, I may be looking in Cleveland too. It seems that his company would make long distance investing so much easier. I would love to meet up and talk.

@Ronda R. ! He (and his team of agents) is the one you need to be chatting with out that way if you are looking for a one-stop-shop, with purchase, rehab and management all wrapped up. His company is investor focused and can set you up in anything from a SFH through to a 43-unit apartment. It is the property management that will be the most important aspect in the long run, and although we don't work with HWPG, their reputation is second to none.

Good luck1

Welcome to BP Ronda!! There is a wealth of information here.  I'm a hom inspector.I live about 20 minutes from Albany, OR  good luck on your investing!  Let me know if you need anything up here in Albany.

@Ronda R. Welcome to BP. Dell didn't steer you wrong, I have never met anyone who had a bad thing to say about him. 

There is not much regarding RE investing that cannot be found on BiggerPockets. Its scope and value to me has grown exponentially in the 7 years that I have been a member.

@Ronda R.

Welcome to the BP family you came to the right place to learn all about real estate investing! Here are some recommendations for you:

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