Tim McGarvey - New Member from California Bay Area

Tim McGarvey - New Member from California Bay Area

Rental Property Investor · Napa, CA · Member since 2016 · 68 posts · 57 votes

Hello BP,

My name is Tim McGarvey, a new investor from California. I've been catching up on the podcasts over the last weeks and months (I'm up to show #46 right now) but I'm brand new to the forums. It seems like a great place to ask questions, share experience, network with other investors. I'm sure getting involved in these discussion will help expedite my leaning and growth as in investor exponentially. I also grabbed copies of @Brandon Turner's "The Book On..." that I'm digging into as well. I look forward to conversing with you all!

A little about myself, I graduated in 2014 from a small school on the central coast called Cal Poly with a degree in City and Regional Planning and a minor in Property Development. I spent most of my free time with the Construction Management department however and was hired as a Project Engineer for a large general contractor in San Francisco. I've been working in construction management for the last 3 years (mostly large commercial project upwards of $100 million) doing everything from estimating to change orders to managing subcontractors in the field. I've heard a few interviewees on the podcasts mention leveraging "unfair advantages" and I guess right off the bat mine would be that I have experience working for/with contractors and have made a number of great connection along the way. From my time in school, I'm also familiar working with local municipalities, zoning codes, etc.

I'm interested in gaining passive income owning rental properties. I work long hours to I would like to set up specific processes in system to help my side business run itself. The goal is eventually to make enough that I can comfortably travel and explore the world at will (just got back from a 4 week trip to Eastern Europe), without having to worry about what to do for work.

In terms of disadvantages, it's easy to feel intimidated as a beginning investor who owns no property in one of the hottest and expensive real estate markets in the world and has very little savings. While I make a great salary for someone my age, it's difficult to save with the costs of living and sky high rents in these parts so I'm constantly strategist to save pennies here and there to add to my savings for a down payment. I'm sure there is some way(s) for me to "get in the game" here so I will be asking tons of questions in the forums about investing in California, house hacking, and specific tactics for gaining funding to get started. I have a couple ideas/plans right now that I will bounce around in the forums.

I appreciate your guys help in advance and hope to be in contact in the future!

Tim

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  • Appraiser · Concord, CA · Member since 2016 · 2 posts · 0 votes
    9y

    @Tim McGarvey welcom to BP!

    I actually graduated from Cal Poly as well. Your background should help with some aspects of investing in real estate. Good luck! 

  • Ashley WatkinsPro Member
    Accountant · San Francisco, Bay Area · Member since 2016 · 34 posts · 16 votes
    9y

    Welcome to the BP forums, Tim! I understand the "hard to save" aspect in the Bay Area. If you haven't checked out Bigger Pockets / meet, you definitely should! There are many investors in the area, and with that provides a lot of opportunity to meetup.  As for the podcasts, more recent shows have featured Real estate sponsors, such as Realty Shares, that can help your creative financing juices get flowing. Speaking of newer shows, I love show 200. It is such a great roadmap for those of us getting started. I can say that after listening to that one, I know where I am in the process (step 3 or 4 for me, right now), and have been able to impliment daily steps to moving forward. 

    Once again, welcome to BP!

  • Real Estate Broker · San Luis Obispo, CA · Member since 2016 · 180 posts · 69 votes
    9y

    @Tim McGarvey welcome to BP Tim! Another Cal Poly graduate here! I'm from Pleasanton originally, so right next to where your at now. I'm still living in SLO and working as an underwriter for commercial real estate loans.

    Used to work for a property management firm in Pleasanton, and we would attend a real estate get together every Friday morning @ 8am at Tommy T's. Great place to go to meet realtors, lenders, and people doing deals all the time. Honestly, you should check it out sometime!

  • Professional · San Francisco, CA · Member since 2014 · 876 posts · 301 votes
    9y

    Welcome @Tim McGarvey, best of luck with your REI goals!

  • Jo-Ann LapinPro Member
    Loan Officer · Tustin, CA · Member since 2015 · 3k+ posts · 713 votes
    9y

    welcome to you and feel free to reach out

  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    9y

    Hey @Tim McGarvey welcome to BiggerPockets!

  • Livermore, CA · Member since 2010 · 25 posts · 13 votes
    9y

    Hi @Tim McGarvey.

    I live in Livermore and have an office in Pleasanton. If you ever want to meet up, I'm in the neighborhood!

    Cheers.

  • Property Manager · Castro Valley, CA · Member since 2016 · 212 posts · 110 votes
    9y

    Hi Tim,

    Welcome to the Bigger Pockets community. 

    Saving in this area is indeed tough.

    I work with a property management company in Oakland and have been involved in managing maintenance of both condos and apartment buildings.  

    It is nice to see someone coming from the technical building background.  I bet you will have a great eye for avoiding problems that other people without your experience may miss.

    I am on the road to acquiring real estate as well and wish you the best of luck.

  • Investor · San Francisco, CA · Member since 2015 · 306 posts · 211 votes
    9y

    Welcome @Tim McGarvey! Very neat you manage large projects in the Bay. As the others have said, I'm sure it will help you a great deal. :)

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