Brand New Member from Oakland, CA

9 Replies

Hello everyone! I'm Pete Hendler... This is technically my second post... My first is being verified by moderators in the Lease Option forum. I could't wait to get started and was really wanting some feedback on an idea that I got from Brandon's No/Low Money Down webinar recording (link: My first real estate strategy concept). 

I live in the Bay Area and work in healthcare. I have considered real estate a good option for many years but never felt I had the "head" or money for it. Relatively recent events in my life have conspired to make me re-evaluate my plans to achieve my goal of financial freedom, primarily because they failed! I was a graduate student and did not complete my program, so now I have all the debt and no degree or increased salary to show for it. It made me realize, however, that I can learn new concepts that I previously considered too difficult, and that I work better and harder when I'm working independently and on my own goals and objectives. Taking that new knowledge about myself and revisiting my long term goals has brought me here!

My initial interest, after speaking with a good friend, who coincidentally recommended this site, was in the BRRRR strategy. The BRRRR method still holds allure for me, but I will say that already the new ideas are flowing after barely over 24 hours here at Bigger Pockets. I am glad to be here and trying not to get overwhelmed by all the information, while also having to force myself to turn off my laptop lest I burn my retinas from reading article after article. Please feel free to reach out and say hello, and if you're interested, check out the link to my first big idea for a deal. Thanks!

Hi Peter, it's a pleasure to e-meet you. I love the BRRR strategy for sure. What is it you love so much about BRRRR? I also think there are tons of opportunities for house hacking here in the Oakland area if you can get a house in the first place because appreciation is real here. I'm looking forward to connecting and Ill see you on the forums!!

Hi Hans! Thanks for replying... I appreciate the BRRRR strategy because of the potential for building a portfolio. I like how the focus is on developing a long term revenue stream, as opposed to flipping which may net more cash in the short term but would need to be invested again for any growth to occur. However, I am a complete newbie, so I'm probably missing a lot of the subtleties... Once I educate myself more, I certainly plan to look into the house hacking option locally!

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Originally posted by @Peter Hendler:

Hello everyone! I'm Pete Hendler... This is technically my second post... My first is being verified by moderators in the Lease Option forum. I could't wait to get started and was really wanting some feedback on an idea that I got from Brandon's No/Low Money Down webinar recording (link: My first real estate strategy concept). 

I live in the Bay Area and work in healthcare. I have considered real estate a good option for many years but never felt I had the "head" or money for it. Relatively recent events in my life have conspired to make me re-evaluate my plans to achieve my goal of financial freedom, primarily because they failed! I was a graduate student and did not complete my program, so now I have all the debt and no degree or increased salary to show for it. It made me realize, however, that I can learn new concepts that I previously considered too difficult, and that I work better and harder when I'm working independently and on my own goals and objectives. Taking that new knowledge about myself and revisiting my long term goals has brought me here!

My initial interest, after speaking with a good friend, who coincidentally recommended this site, was in the BRRRR strategy. The BRRRR method still holds allure for me, but I will say that already the new ideas are flowing after barely over 24 hours here at Bigger Pockets. I am glad to be here and trying not to get overwhelmed by all the information, while also having to force myself to turn off my laptop lest I burn my retinas from reading article after article. Please feel free to reach out and say hello, and if you're interested, check out the link to my first big idea for a deal. Thanks!

 Hello and welcome! Best of luck to you! 

@Peter Hendler That makes sense. Are you considering a revenue stream from rent? I assume you are thinking about living in one unit and renting others? If so, you should spend some time on the City of Oaklands site learning about the ins and outs of owner-occupied rental property. The rules are really fluid right now and are always up for debate. This could really change things for both your underwriting and your enjoyment of the property. 

If there is any way I can help you get educated, let me know. Feel free to DM me or respond to this thread. 

Best,

Hans

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