First Timer in Oakland

[Michael Cornell]

Hello BP,

Was looking for a bit on advice on my intro into real estate.

I am a 35, married with a baby living in Oakland, CA. I have no debt and enough money to make an initial investment in a property. I have a good paying job that I enjoy, so looking to invest while doing my full time job. Possibly working towards a more full time thing. I am currently renting.

I am interested in multi-family to buy and to live in Oakland.

I have 8 years experience as a carpenter in a previous life. I’m not going to be remodeling everything myself but thought its good to align my life experiences with my foray into entrepreneurship.

Couple of questions,

I am not loaded. I have enough money to scrape together a downpayment on a single property. Is investing in a single expensive market like Oakland make sense or would I over-expose myself? Should I look to invest elsewhere and continue to rent here?

[Kevin Dang]

@Michael Cornell I second on that strategy. After that, you can do a 1031 exchange.