Investor · Oakland, CA · Member since 2016 · 6 posts · 3 votes
Hi All,
I've spent many many years in technology (corporate america) and I'm just now jumping into real estate investing. I've recently purchased a 2Bd 2Ba condo in Sacramento (focusing in that area for now) and I'm eager to learn more about widening my portfolio. I'm interested in buy and hold strategy specifically focusing on single family and multi-family.
I currently live in the Bay Area (Oakland) but have been spending a lot of time in Sacramento as of late. If I had to state my goals for the remainder of 2016 I would say:
- Better educate myself on real estate investing and acquiring multi-family units
- Build a better real estate investing network (this will help)
- Acquire 2-3 more properties
Really looking forward to learning more from the community. Any and all insight is appreciated.
Lender · Granite Bay, CA · Member since 2014 · 456 posts · 454 votes
10y
@Nate Williams Welcome to BP! @J. Martin is right about the meetup group. I started mine about 18 months ago, and we now have almost 700 members, who are on target to make over $1 million doing deals with each other this year! If you really want to get to know people, build connections and relationships, and do more deals, you should go to meetings and get involved :-)...I know the Sacramento area is a long drive, but we have over 100 people at every meeting and they are a lot of fun. Good luck!
Real Estate Agent · Sacramento, CA · Member since 2015 · 338 posts · 135 votes
10y
Welcome to bp! Your smart for looking into multifamily. You can still do single family but it's pretty tough right now. What brings you to the Sacramento area in terms of investing? What zip is your current condo at?
Investor · Oakland, CA · Member since 2016 · 6 posts · 3 votes
10y
Thanks for the warm welcome all. Though I've only been a member for a few hours, I can't get enough of all this insight. The podcast are my favorites.
Derek Jones, my condo is currently located in the 95825 area. My initial strategy was to focus on 2bd 2ba within a 2mile radius of a college or university. In this case, Cal State Sacramento. I literally just closed on the place beginning of June and I'm less than a two days away from opening up the application process. With the start of school about a month away, I'm anxious to get the tenant ball rolling.
What was your initial strategy and have you deviated from it?
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I live in the SF Bay (all over now!) and own property in West Oakland, East Oakland, Richmond, and have some interests sprawled down through Silicon Valley. Just quit my W2 job this year at 32, and have been traveling around the country the last few months. With the help and partnerships of people on this website! So that shows you can gain some more freedom by connecting with others and busting your ***! ;)
First of all, you came to the right place! Bigger Pockets is an awesome resource, as are so many of its members, especially here in the Bay. @Arlen Chou is another successful tech guy who launched a very successful real estate investing career when he set his mind to it the last couple years. He's been doing it in our backyard here. But lots of folks looking at Sacramento also.
@Al Williamson, @David Oldenburg, and @Tapan Trivedi all have meetup groups in Sacramento and are informed on the market, next time you can make it up there. We'll be meeting on for a free meetup with lots of BP and Meetup members (usually about 50 investors) - so that will be a bit closer if you can make it. Great place to get better connected and network with other investors deploying locally, Sacramento, and elsewhere..
Feel free to tag me on the forums if you have a question :) And welcome to BP!
Investor · Roseville, CA · Member since 2009 · 1k+ posts · 583 votes
10y
@Nate Williamsbp has alot of active people around the Sacramento area. I hope all goes well with the condo and any other purchases in the near future. I am a long time resident of the area so if you have questions, just send me a email
Investor · Oakland, CA · Member since 2016 · 6 posts · 3 votes
10y
Thank you @Gordon Cuffe I've just now started the search for multi-family units in the area. I do have a question for you and the contributing members on this thread; I keep hearing the phrase "if the numbers match up" when referring to if a property should be pursued. I'm confident I look at this much different than others but wanted to lean of the group/community for greater insight.
Lender · Granite Bay, CA · Member since 2014 · 456 posts · 454 votes
10y
@Nate Williams Welcome to BP! @J. Martin is right about the meetup group. I started mine about 18 months ago, and we now have almost 700 members, who are on target to make over $1 million doing deals with each other this year! If you really want to get to know people, build connections and relationships, and do more deals, you should go to meetings and get involved :-)...I know the Sacramento area is a long drive, but we have over 100 people at every meeting and they are a lot of fun. Good luck!
Lender · Granite Bay, CA · Member since 2014 · 456 posts · 454 votes
10y
@Nate Williams The next meeting is Tuesday, September 6th at 6:30pm at Whitney Oaks Golf Club...it's also on our site at RosevilleMeetup.com, where you can read about our guest speakers that night.
Professional · San Francisco, CA · Member since 2014 · 876 posts · 301 votes
10y
Welcome @Nate Williams! Sounds like you have some great goals. This site is great for networking and getting a ton of real estate information. Happy to network.
Real Estate Investor · Oakland, CA · Member since 2014 · 6 posts · 2 votes
10y
Nate Williams
What scale of multifamily are you interested in doing? I just sent out a large mailing campaign to 2-4 units as well as 10+ units in Oakland.
I have an amazing 14 unit multifamily under contract in Grand Lake that I'm looking for a joint venture partner to pursue a value add investment strategy or potentially assign the contract.