Buy and Hold Newbie from Bethel Island, CA

Buy and Hold Newbie from Bethel Island, CA

Damascus, OR · Member since 2016 · 87 posts · 24 votes

Hi all!

After becoming an accidental landlord years ago, I figured it was time to really learn about real estate investing. After several google searches, many of the results were from this BP site. I was literally overwhelmed by the amount of info that was on here. In my early 20s, I’ve always dreamed of having a multiunit. Now enjoying the last year in my 30s, I figured it was time to stop dreaming and just take action.

Born and raised in the Bay Area of California (spending most of my time in the East Bay) with a background in software. I currently work as a Software Build Engineer, along with running/operating a machining business with my husband.

I signed up for the free membership early this year and last night……I took the plunge and upgraded to Pro. I’m SUPER excited, but now out of money to invest. Go figure.

I actually have 3 deals going on right now:

(1) refi /cash-out on my rental (CA)

(2) in the process of purchasing another rental (NC)

(3) an accepted offer on a commercial property (NC) but currently looking for funding for it

Currently focusing on investing in California because I live here, but also in North Carolina because I have a 2nd home there, and just fell in love with the South.

Real Estate Goals:

“Buy and Hold” will be the main focus of this new business. Focusing on SFRs and Multiunits. Once we’ve created enough cash flow that matches my take home pay, then I can finally quit my job and run this business full time. My husband and I actually make a great team when it comes to home upgrades, so we do plan to do some flips in the future.

Looking to continue to meet and learn from others. I’ve met some great people on here already, and appreciate their kindness and guidance. I really enjoy this community and can’t wait to build more relationships.

3Reply
39 views

19 Replies

Jump to latestLatest
  • Damascus, OR · Member since 2016 · 87 posts · 24 votes
    9y

    Thank you for reaching out @Account Closed and great to meet you. I am more than open to seeing what you have to offer.

  • J. MartinPro Member
    Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
    9y

    @Melyssa Green,

    The South is cool :) I hung out in South Carolina for a bit on my cross-country roadtrip, along with Nashville, Atlanta, New Orleans, Jacksonville, and a bunch in between.. Good for you! I don't have a true second home yet (or first for that matter! lol). 

    Regarding your commercial property, there is tons of financing for commercial property right now. Banks and credit unions are trying to push money out the door to get some yield. I would search on Google for the few closest banks nearest to the property, and get it done! They'll probably drive by while they're on the phone with you lol. Plenty of national lenders also. And brokers..

    Congrats on looking towards quitting your job. So many opportunities in real estate popped up when I quit my 9-5 earlier this year. I encourage you to do the same! Btw, do you ever stop in to Bay Area Wealth Builders? I do every once in a while. But mostly doing my meetups in SF. Drop in and say hi if you're around SF on Thurs!

    Good luck with your cash-out, purchase, lending, and everything else :)

  • Damascus, OR · Member since 2016 · 87 posts · 24 votes
    9y
    J. Martin Hi there and thanks for the well wishes. I used to live in Hayward years ago, (went to Hayward State) but fairly far out in east county now. I have not heard of either meetup so I'll check them out and definitely look for you at the Thursday night one. Working with 3 lenders and neither have confirmed if we have qualified yet, and another one said that we were too risky. So hearing you say they want to lend some money gives me some hope. Scoped a bunch out here on BP, but many have dead links or are commercial loans but only for residential units. This would be an owner occupied, as I have a business that will be utilizing the industrial space. I was looking for a hard money lender too for the $40k down. We'll see how this pans out. I know I definitely need to get to a REIA and learn from other locals. btw, spent time in South Carolina via bootcamp at Fort Jackson, so I couldn't tell you much about that part of the south. Enjoyed Nashville, TN though.
  • Residential Real Estate Broker · San Mateo, CA · Member since 2013 · 585 posts · 264 votes
    9y

    @Melyssa Green welcome! Hopefully all of the projects you are working on all go smoothly! Read as much as you can and keep us posted how everything pans out.

  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    9y

    @Melyssa Green

    Welcome to bigger pockets. Make sure to check out the Bigger Pockets Blog: https://www.biggerpockets.com/renewsblog/

    It is full of great information.

  • Damascus, OR · Member since 2016 · 87 posts · 24 votes
    9y
    Hi Ryan Landis - yes. BP is my go-to source for any question I have. But I knew that I had to become a Pro member to really get the most out of it. I try to check in on it daily and can easily get caught up reading about a ton of topics.
  • Damascus, OR · Member since 2016 · 87 posts · 24 votes
    9y
    Thanks for the reminder Mark Nolan - I get so caught up on the forums that I do overlook the blog. Well, until I receive an email and then I can't wait to read the articles.
  • Investor · Las Vegas. Jacksonville, Bay Area Ca, Nv, Ca, Fl · Member since 2015 · 511 posts · 220 votes
    9y

    @Melyssa Green. Hello neighbor, I am a rehabber/flipper from Oakley. Read as much as you possibly can and get to know your investing area market. As you know the N. Cal market is very fluid and is really completive with most "deals" selling very close to retail. I do most of my investing in Las Vegas, Jacksonville, FL and others. There are several avenues and loan types that can be used to purchase a property, some are creative. I am here to help if you have any questions or need a professional builder's advice on a property's integrity.

  • Damascus, OR · Member since 2016 · 87 posts · 24 votes
    9y
    Well hello neighbor Robert Rayford - when did you jump ship out of Oakley? Yes, California is a pretty steep and fast market. And I just found another avenue for lending via an article from LinkedIn, so I'll give that a try. Well nice to meet you. Gosh, I haven't been to Vegas in a couple of years.
  • Wholesaler · Saint Augustine, FL · Member since 2016 · 328 posts · 98 votes
    9y
    Melyssa Green Welcome to the club! I really enjoyed reading your story. Wishing you luck in all you REI endeavors!
  • Damascus, OR · Member since 2016 · 87 posts · 24 votes
    9y
    Danielle Fattizzi Thank you for the warm greeting. With the BP community and my drive, I am more than optimistic on this new venture.
  • Investor · Las Vegas. Jacksonville, Bay Area Ca, Nv, Ca, Fl · Member since 2015 · 511 posts · 220 votes
    9y

    @Melyssa Green  I am still in Oakley. I have a second home in Vegas.

  • Damascus, OR · Member since 2016 · 87 posts · 24 votes
    9y

    So you really are my neighbor @Robert Rayford. Well we should grab some coffee or something then. I'm kicking myself for not buying a house or 2 in Vegas about 15 years ago. Walked through some model homes and they were going for $80k brand new. I was such a kid...ugh.

  • Investor · Brentwood, CA · Member since 2012 · 139 posts · 53 votes
    9y

    Hi @Melyssa Green and @Robert Rayford. Great to see more folks from East Bay. There is a new meetup scheduled for Thu, Nov 3 in Oakley, are you guys planning to attend ?

  • Investor · Las Vegas. Jacksonville, Bay Area Ca, Nv, Ca, Fl · Member since 2015 · 511 posts · 220 votes
    9y

    @Naveed Q. Thanks for the info. This is the first I've heard of it. I will try to attend.

  • Damascus, OR · Member since 2016 · 87 posts · 24 votes
    9y

    @Naveed Q. - oh really? I'm brand new to this "meetup" thing. Can you message/email me details? I would love to attend.

  • Investor · Brentwood, CA · Member since 2012 · 139 posts · 53 votes
    9y

    @Melyssa Green details are:

    Thu, Nov 3 @ 5:00 PM 

    Round Table Pizza, 2190 Main Street, Oakley, CA

    https://www.meetup.com/Contra-Costa-County-Investo...

  • Damascus, OR · Member since 2016 · 87 posts · 24 votes
    9y

    Thanks for the info @Naveed Q. - unfortunately I work in Concord and aim to clock out at 5pm

    But now I know and have the meetup link and can try and plan to attend an event.

Join the conversationCreate a free account to reply, vote on answers and follow this thread.