Joining the BP community from Palo Alto, California

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Joining the BP community from Palo Alto, California

Mark Nichols
Menlo Park, CA · Member since 2015 · 7 posts · 0 votes

Hello,

My name is Mark and I reside in the Palo Alto/Menlo Park area of Northern California. I stumbled into and started listening to the Bigger Pockets podcast early November of 2015. I'm doing all I can to educate myself about Real Estate Investing. 

I am a complete Newbie and am in the process of determining my goals and forming a plan to reach those goals. I do know I have an interest in multi-family homes which is how I'd like to launch my investments.

I am both excited and nervous joining Bigger Pockets. I hope to be able to contribute to the Bigger Pockets community and I am looking forward to connecting with you.

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  • Sterling WhitePro Member
    Rental Property Investor · Indianapolis, IN · Member since 2014 · 554 posts · 153 votes
    10y

    Welcome to the site @Mark Nichols. Very resourceful tool. 

    What peaked your interests towards multi-family?

    Podcast Guest on Show #308
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  • Mark Nichols
    OP
    Menlo Park, CA · Member since 2015 · 7 posts · 0 votes
    10y

    Hi Sterling,

    Thanks for reaching out. It's great to see a response to my introduction post. I have an interest in Multi-Family because it is my understanding there is a better possibility for good cash flow over single-family. It is also my understanding it is much easier to finance a multi-family over a small apartment complex with more than 4 units. I am not confident about these facts and they might not even apply in California, where I hope to invest close to home.

    How long have you been in the Bigger Pockets community? Where do your interests lie in real estate investing?

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  • Rob B.
    San Leandro, CA · Member since 2015 · 59 posts · 12 votes
    10y

    Hi Mark,

    I grew up in Menlo Park, off of Valparaiso and Elder, so I know the area well. To be honest, I wouldn't even bother trying to invest in Palo Alto and Menlo Park. I own a property management company that goes from San Jose all the way up to Menlo Park, and I can tell you that the rate of return is going to be abysmal. You should look for something in the San Jose area. 

    4-plexes are a great way to go, especially if you are willing to live in one unit for a year or so in the beginning. There are also some deals in Hayward/San Leandro/CV area. I love living in the Peninsula, but it's not a place I would ever invest. 

    Rob

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  • Ryan Landis
    Residential Real Estate Broker · San Mateo, CA · Member since 2013 · 585 posts · 264 votes
    10y

    @Mark Nichols welcome to BP! Try to attend one of the local BP meet ups if you can. There are quite a number of investors based out of the Bay that are extremely successful investing in the Bay (and others investing out of state).

    Also, I would really recommend listening to as many of the podcasts as you can. If you ever have any questions, do not hesitate to reach out/ask any of us.

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  • Anthony Johnson
    Inglewood, CA · Member since 2014 · 74 posts · 17 votes
    10y

    @Mark Nichols welcom to BP and I wish you all the best.

    0Reply
  • Mark Nolan
    Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    10y

    @Mark Nichols

    Welcome to Bigger Pockets community. Be sure to check out “Learn” for all kinds of useful resources and free how to guides.

    0Reply
  • Gloria Mirza
    Real Estate Agent · San Jose, CA · Member since 2015 · 172 posts · 66 votes
    10y
    Originally posted by @Mark Nichols:

    Hi Sterling,

    Thanks for reaching out. It's great to see a response to my introduction post. I have an interest in Multi-Family because it is my understanding there is a better possibility for good cash flow over single-family. It is also my understanding it is much easier to finance a multi-family over a small apartment complex with more than 4 units. I am not confident about these facts and they might not even apply in California, where I hope to invest close to home.

    How long have you been in the Bigger Pockets community? Where do your interests lie in real estate investing?

    I was looking into multi-family in the Stockton area and found that the ROI is not that much better than SFR around here. Keep in mind that you will have to pay about 1/8 a percent higher on your loan, will need to pay for water sewer and garbage for the properties and typically pay more for insurance. I know a lot of people on this board will disagree with me but I think California isn't the same as other parts of america when it comes to multi family.

    0Reply
  • Jo-Ann LapinPro Member
    Loan Officer · Tustin, CA · Member since 2015 · 3k+ posts · 713 votes
    10y

    Welcome to BP. Don't be nervous. This is great learning forum for networking a learning a ton with hand s on experience with real property owners.

    [email protected]
    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Mark Nichols  There is so MUCH more to real estate than the rental game.. be sure to explore it all... I lived in Barron park for years..

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
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  • Mark Nichols
    OP
    Menlo Park, CA · Member since 2015 · 7 posts · 0 votes
    10y
    Wow. I'm so overwhelmed and thankful for all who have commented on my post. I know I have a lot of research, learning and work ahead of me. It's great to have a place like Bigger Pockets for support starting my journey in real estate. With the prices I've seen for real estate in my local area I had a hunch it might not gleam the best investment opportunity. It's nice to hear some agreement on this as I thought my inexperience might be keeping me out of the loop on something I might be missing. Thanks again to everyone taking the time to welcome me to the BP community!
    0Reply
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