New Investor in SF Searching for Tips and Advice

New Investor in SF Searching for Tips and Advice

Investor · San Francisco, CA · Member since 2016 · 13 posts · 2 votes

Hello Bigger Pockets! 

I am so glad to have found you all as my partner and I begin an exciting adventure in real estate investing. We have two separate real estate projects we are currently working on. One involves selling our current 2-unit home/rental in SF and the 1031 investment opportunities that will present. The other is a new business we're launching that will ultimately result in the purchase of 5+ units in SF and other cities currently dealing with rising rents and significant tenant displacement. We have been very saddened and disappointed by the housing crisis in SF and we want to use some of what we have to help where and how we are able. We are very excited about this new project.

I'm new to all of this as I never really set out to be a real estate investor and more or less fell into it when the opportunity to buy my long time SF apartment presented itself a few years ago. That proved to be a harrowing roller coaster of a ride, but we prevailed thanks to some unconventional financing and an unexpected card (we didn't even know we had) up our sleeve when our former landlord's son tried to pull the rug out from under us. So, I was forced to learn a lot very quickly during that time but it all paid off. Now I am doing my best to learn a lot fast, once again, and I'm hoping it'll pay off this time as well. I'm here to get help with my effort to figure out all the ins and outs of 1031s, TICs, LLC/LLPs, and more in hopes my partner and I can do some very creative things with the property we currently own so that we'll be able to use the proceeds to move to another state and launch our novel new r/e business in Spring 2017.

Thanks for reading! I look forward to learning a lot from all of you here at Bigger Pockets.

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Joel OwensBusiness Member
Moderator
Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
9y

Look up J Martin on here. He is doing similar things like you it sounds.

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  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    9y

    Look up J Martin on here. He is doing similar things like you it sounds.

  • Investor · Warner Robins, GA · Member since 2015 · 1k+ posts · 490 votes
    9y

    Hey welcome to BP!

  • Investor · San Francisco, CA · Member since 2016 · 13 posts · 2 votes
    9y

    Thanks guys! Appreciate the welcome and advice!

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

    @Joel Owens.

    Thanks for the shout out :)

    @Lynn Leigh,

    Congrats on buying your place, and on the new adventure.. You are right. The housing market is crazy here. Good of you to give some back as part of the process.. ;) A bunch of us are meeting on Thursday in the Financial District in SF (50 or so?) to chat, network, and what do you know... talk about 1031 exchanges!!! Check my profile for the link. 

    @Bill Exeter is the guy to talk to for 1031 exchanges. He was just out at the Summit, along with Joel, and has answers to all the questions. I haven't heard anyone else so knowledgeable on 1031 exchanges. And can do it in or out of state..

    Hope to meet you soon in person soon Lynn! 
    And welcome to getting more active on BP :)

  • Investor · San Francisco, CA · Member since 2016 · 13 posts · 2 votes
    9y

    Thanks @J. Martin! That Thursday meetup sounds great, unfortunately, I can't see your profile since it's hidden. I'd love to go though and meet a bunch of new folks working on this kind of stuff. 

    And thanks for the tip re: @Bill Exeter. I just posted a description of what we're mulling in the 1031 forum. As I said there, I'm not sure it's a thing that can actually be done, but if not, maybe my explanation of what we're trying to do will spark some ideas in other community members with more experience and know-how and maybe we'll be lead to another method of achieving similar results. 

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