New member from Northern California/Nevada

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New member from Northern California/Nevada

Leo Ka
Roseville, CA · Member since 2016 · 2 posts · 0 votes

Hello everyone. I am Leo from the Sacramento area and I am a very new to both REI and this site. For the past few years I've been wanting to start investing and I am now financially in a position that I'd be able to pursue it aggressively. I am looking at both commercial and residential investing anywhere in California and Nevada and so far I've been very intrigued in the Sacramento area, Bakersfield, Modesto, and Las Vegas. I would love to get in touch with investors in the area to learn more from them and also professionals in the business who could help with financing and finding great deals on properties. Thanks

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Max Gradowitz
Bakersfield, CA · Member since 2016 · 378 posts · 307 votes
9y

Hi @Leo Ka, welcome to BiggerPockets.  Bakersfield is a great market for buy and holds - purchase prices are very reasonable and properties cash flow well due to fairly high market rents.  Modesto is similar.  The central valley is really the most accessible area of the state for new investors.  At least in Bakersfield, there are plenty cash flowing multi-unit properties on the market.  Flips are better found off market though, in my opinion.

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  • Max Gradowitz
    Bakersfield, CA · Member since 2016 · 378 posts · 307 votes
    9y

    Hi @Leo Ka, welcome to BiggerPockets.  Bakersfield is a great market for buy and holds - purchase prices are very reasonable and properties cash flow well due to fairly high market rents.  Modesto is similar.  The central valley is really the most accessible area of the state for new investors.  At least in Bakersfield, there are plenty cash flowing multi-unit properties on the market.  Flips are better found off market though, in my opinion.

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  • Leo Ka
    OP
    Roseville, CA · Member since 2016 · 2 posts · 0 votes
    9y

    @Max Gradowitz I actually wasn't looking at Bakersfield before but after reading some of your posts on the site I became interested and I started looking into it. Definitely looking to buy and hold instead of flips so great I definitely agree. Thanks for the tip

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  • Sanjeev Advani
    Investor · Bakersfield, CA · Member since 2015 · 483 posts · 234 votes
    9y

    @Leo Ka I am also from Bakersfield, and agree that there are some good opportunities left in the Central Valley.  I work with investors from the Bay area all the way down to San Diego and can find many good buy and hold properties for you.  

    Currently I have 2-3 properties that are earning some good returns and are for sale, and I am constantly finding more. I would like to talk further if you are interested.  

    As far as flips, I would have to agree with Max for the Central Valley area, but we have been having success in some higher end flips recently and would be able to help you with those as well.  The flips I am talking about would require substantial capital in more top-end markets around the state.  

    If you are interested in commercial properties, those are actually where I specialize. We have been finding some great opportunities for smaller spaces here in Bakersfield, and your returns will almost always be higher. However, I would suggest a BRRR method for your commercial approach at this time because there are some good underperforming assets that we can take over.

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  • Gordon CuffePro Member
    Investor · Roseville, CA · Member since 2009 · 1k+ posts · 583 votes
    9y

    I live in roseville and I always like to talk real estate . Send me a message anytime . 

    @leo

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  • Carrianne Mucho
    Lender · Roseville, CA · Member since 2011 · 205 posts · 86 votes
    9y

    Congratulations @Leo Ka on beginning to follow your dreams! The Sacramento area is growing and has a variety of opportunities. I believe in investing in areas you can drive to so you can have better oversight and as much or little involvement in managing your properties as you wish; especially for a new investor. I'm located in Roseville and would be happy to discuss financing options. You are welcome to message me; see my profile for contact info and best wishes to you in your REI journey!

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  • Bill SchrimpfBusiness Member
    Real Estate Agent · Reno, NV · Member since 2014 · 349 posts · 189 votes
    9y
    Originally posted by @Leo Ka:

    Hello everyone. I am Leo from the Sacramento area and I am a very new to both REI and this site. For the past few years I've been wanting to start investing and I am now financially in a position that I'd be able to pursue it aggressively. I am looking at both commercial and residential investing anywhere in California and Nevada and so far I've been very intrigued in the Sacramento area, Bakersfield, Modesto, and Las Vegas. I would love to get in touch with investors in the area to learn more from them and also professionals in the business who could help with financing and finding great deals on properties. Thanks

     HI Leo!  have you considered Reno?  Rental vacancies in Reno are under 3% which means rents are increasing!  let me know if you would like to learn more.  Happy investing!

    [email protected]775-741-2326
    ERA Realty Central - Bill Schrimpf58 Reviews
    WebsiteView Page
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  • Chris Kirk
    Property Manager · Sacramento, CA · Member since 2016 · 91 posts · 34 votes
    9y

    Welcome, @Leo Ka! Those are all great locations to consider. One thing you should think about (and check out the podcasts because there is tons of info on there) is how close you plan to be to your investment location. Doesn't necessarily mean it's better to be closer or farther away, just that each comes with their own challenges so you should think about that. Being far away means you'll most likely want to make at least one trip to the area to look at your first place and get an understanding of the neighborhoods. Everyone on BP has already been super welcoming it looks like, so definitely rely on them for advice in regards to that as well!

    Good luck and let me know if there is any way I can help :)

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  • Jimmy Ho
    Investor · Milpitas, CA · Member since 2015 · 40 posts · 13 votes
    9y

    @Leo Ka welcome to BP. I'm currently investing in Sacramento, Modesto, Fresno, and Pasadena. In my opinion out of all of these cities if my family member is asking me where to invest I would recommend Modesto. Like all cities there are good and bad areas, but if you want to invest in modesto I would recommend zip code 95355 or 95356 all day long because of the location, school, and active community. If anyone have questions feel free to reach out. 

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  • Cory Kleinfeldt
    Folsom, CA · Member since 2016 · 9 posts · 3 votes
    9y
    Welcome Leo Ka we are in similar positions. Just starting my investing journey after waiting a couple of years. There's a meetup in Roseville on Nov 1st where there will be some good networking I hear! Good luck man!
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