Looks like I shot myself in the foot!

Salinas, CA · Member since 2015 · 15 posts · 1 vote

Wife and I just moved to the Monterrey Peninsula. How the heck am I supposed to start my dream of real estate investing, in a market so saturated and expensive!?

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Brent Coombs

Investor · Cleveland, OH · Member since 2015 · 6k+ posts · 2k+ votes

10y

@Andre Cano, in order to properly harm your wallet, move to Manhattan...

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Jacqueline Carrington
Investor · Corona, CA · Member since 2014 · 746 posts · 372 votes
10y
Look outside of your immediate area.
Think outside the box.
Research a niche market.
Creative financing.
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Andre Cano
OP
Salinas, CA · Member since 2015 · 15 posts · 1 vote
10y
Hey Jaqueline, Thanks so much for your response. What exactly do you mean by niche market?
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Alexandra Jallabert
Real Estate Professional · Agoura Hills, CA · Member since 2015 · 9 posts · 2 votes
10y
Hi Andre! Congratulations on the move. There are a few different ways to finding the right investment properties. Going outside of your area is one way to start. You should try and checkout some real estate websites. Do you have any that you use currently?
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Brent Coombs
Investor · Cleveland, OH · Member since 2015 · 6k+ posts · 2k+ votes
10y
@Andre Cano, in order to properly harm your wallet, move to Manhattan...
3 Reply
Michael Lee
Investor · Coppell, TX · Member since 2008 · 2k+ posts · 646 votes
10y
Originally posted by @Andre Cano:

Wife and I just moved to the Monterrey Peninsula. How the heck am I supposed to start my dream of real estate investing, in a market so saturated and expensive!?
Hello and welcome to you both! It's really all about learning. Even if your market seams crowded learning will help you. I am 59 years old and I was born and raised in Dallas Texas. I graduated from college and got my broker license in 1980.. I have been in the construction business since I was 17. If you think I can help you two in any way please contact me at any time. I found BP about 3 months ago ago and I am still learning. Good luck!
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J Frank Cole
Virginia Beach, VA · Member since 2014 · 74 posts · 17 votes
10y
Welcome @Andre Cano! You might consider using the Blue Ocean strategy: basically, go where your competition is not. For instance, my wife and I have begun to invest in residential assisted living facilities here in Virginia Beach. There is virtually no competition and much higher returns than a traditional buy and hold or a flip. However, we still use the advantages of traditional residential acquisition strategies (i.e. yellow letters, seller financing, etc.). I believe this is an example of what @Jacqueline Carringtonis speaking of.
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Andre Cano
OP
Salinas, CA · Member since 2015 · 15 posts · 1 vote
10y
Originally posted by @Michael Lee:

Originally posted by @Andre Cano:
Wife and I just moved to the Monterrey Peninsula. How the heck am I supposed to start my dream of real estate investing, in a market so saturated and expensive!?
Hello and welcome to you both! It's really all about learning. Even if your market seams crowded learning will help you. I am 59 years old and I was born and raised in Dallas Texas. I graduated from college and got my broker license in 1980.. I have been in the construction business since I was 17. If you think I can help you two in any way please contact me at any time. I found BP about 3 months ago ago and I am still learning. Good luck!
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Kathy Stewart
Rental Property Investor · Dallas, TX · Member since 2015 · 243 posts · 70 votes
10y
I live in Ca./invest in Texas through a boots-on-the-ground Team.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
10y
@Andre Cano has to be all sorts of deals in Salinas and Salinas valley down to Paso
that's all the farther you need to go.
17 mile drive is probably not a great place for those that are new to the business
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Andre Cano
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Salinas, CA · Member since 2015 · 15 posts · 1 vote
10y
Originally posted by @Alexandra Jallabert:

Hi Andre! Congratulations on the move. There are a few different ways to finding the right investment properties. Going outside of your area is one way to start. You should try and checkout some real estate websites. Do you have any that you use currently?
Thanks Alexandra! Yes, I actually frequent Zillow and Trulia. Do you know of any others?
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Andre Cano
OP
Salinas, CA · Member since 2015 · 15 posts · 1 vote
10y
Originally posted by @Brent Coombs:

@Andre Cano, in order to properly harm your wallet, move to Manhattan...
Hey Brent, thanks so much for your response. That is actually were my wife and I moved from, before moving to California. Your are absolutely right! But boy would it be nice to own something out there!
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Andre Cano
OP
Salinas, CA · Member since 2015 · 15 posts · 1 vote
10y
Originally posted by @J Frank Cole:

Welcome @Andre Cano! You might consider using the Blue Ocean strategy: basically, go where your competition is not. For instance, my wife and I have begun to invest in residential assisted living facilities here in Virginia Beach. There is virtually no competition and much higher returns than a traditional buy and hold or a flip. However, we still use the advantages of traditional residential acquisition strategies (i.e. yellow letters, seller financing, etc.). I believe this is an example of what @Jacqueline Carringtonis speaking of.
Thanks so much for the tip, will definitely look into that!
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Andre Cano
OP
Salinas, CA · Member since 2015 · 15 posts · 1 vote
10y
Originally posted by @Jay Hinrichs:

@Andre Cano has to be all sorts of deals in Salinas and Salinas valley down to Paso
that's all the farther you need to go.
17 mile drive is probably not a great place for those that are new to the business
Sounds great! Thanks so much for the advice Jay!
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Alexandra Jallabert
Real Estate Professional · Agoura Hills, CA · Member since 2015 · 9 posts · 2 votes
10y
Hi Andre,
I hope all is well with you today. Another site you can use is Redfin. There is also a website we use that helps us track foreclosures and pre-foreclosure properties. That site is not free like the others but has a great deal of information (as you can imagine) and it covers all of CA and a few surrounding states as well in case your investing territory expands such as NV, WA, AZ, and OR. It is called property radar (formerly foreclosure radar). I hope this helps. Please let me know if you have any questions.
Alexandra
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Sean OToole
Investor · Truckee, CA · Member since 2013 · 546 posts · 445 votes
10y
@Jay Hinrichs nailed it. You are actually quite close to some of the more "fertile" investment hunting grounds in CA.
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Jo-Ann LapinPro Member
Loan Officer · Tustin, CA · Member since 2015 · 3k+ posts · 713 votes
10y
There are always going to be deals out there not matter what area you farm. Every area has it's challenges. You have to find at subject at the right numbers that you can value add to it to fetch the return needed.
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Michael Lee
Investor · Coppell, TX · Member since 2008 · 2k+ posts · 646 votes
10y
Hello! I am so sorry that I am just now getting back to you but I just found this option. I hope that you will reach out to me about anything, especially about construction or real estate. Best wishes!
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