Updated over 8 years ago on . Most recent reply
Moving to Sacramento and getting into small multi family rentals
Greetings Pocketeers,
My name is Brandon, I just moved to Sacramento CA and am looking to getting started in RE investing in the Sactown area. in addition to looking into my first deal in small multi family rentals, I want to get my name out to experienced professionals in the area who may be in need of an intern.
I'm 23 years old, I work as a maintenance technician in hospitality (my fancy job title is "chief engineer" but I'm inexperienced so I prefer technician). I have limited experience in maintenance but am eager and willing to work and learn to provide value to any investor who may find my skills useful to them. I only ask in exchange for being your hands and feet that I may be a fly on the wall to hopefully translate my skills into assets that will help me in my future investment endeavors.
In addition to this, as I said earlier, I am looking into my first deal which I hope to make by the end of the year. I have about 40k in capital which I intend to use as a down payment on a duplex, 3-plex or 4-plex (ideally the latter). I've been reading books and actively involving myself in both the BiggerPockets podcast and blogs for a few months now and have determined that the path I want to take for my first deal is to purchase a 4-plex and living in one unit to get the reduced down payment. As I understand, because I would be living there and seeing as how this would be my first residential purchase, I could get a lower down payment percentage. I am thinking that the BRRRR strategy would be best seeing as how I can live in one unit and handle a lot of the renovation/maintenance myself. I believe that I may also be able to get my parents involved in the deal with me as well, both as investors and helping with the renovations.
I'm interested in your guys' opinions or feedback on my plan, thanks so much for your time reading this post and I look forward to seeing you guys around the blog.
Most Popular Reply
The market is still hot here so you will want to go to the many rei meetings to find off market deals . I just listed a house for sale at 930am on Sunday and a agent called me around 4pm saying he will be sending over an offer. Just an FYI the brrr strategy is used when an investor pays cash for a property then takes out a loan to get the cash back. You can buy a property going owner occupied with as little as 3.5% down so you will not have worry about getting cash back out of the property. If you ever have questions , send me a email.