Updated over 4 years ago on . Most recent reply
Starting Out - Sacramento California
Hello All,
Like many before me I was a lurker on BP, soaking up all the information and searching the forums to hear about other people's experiences in Real Estate. I'm based in Northern California, and I am finding that the Real Estate community out here isn't as organized as I wish it was. While there are some real estate groups around, many of them aren't active or are a "school" in disguise using the guise as a Investment Club as a lead funnel.
What I'd really like to do is connect with some likeminded Real Estate investors and entrepreneurs in the Sacramento and Central Valley areas of California. I'm really looking forward to doing some deals here pretty soon and it'd be great if I could engage with the community a bit more (admittedly, it is much more difficult during Covid-19).
If anyone else is a new investor, experienced investor, and would like to connect to grow our networks, please reach out to me! Definitely excited to get more involved here in California as an investor, but also here on the BP forums/community.
Specifically, the types of projects I'll be working on are Fix & Flips and Wholesaling in Sacramento, Roseville, Modesto, Stockton, and nearby cities. Thanks for taking the time to read this, happy new year, and I look forward to meeting you all soon!
Colin Johnson
(925) 503-9090
Most Popular Reply
Everybody says CA is not viable... yet today I looked at a duplex for $449K collecting $4250 a month in rents in a solid rental neighborhood in the path of progress for Downtown Sac. Minimal cosmetic updating needed. Last week I saw a $800K 4 plex with market rate rents of $7400/mo. Current rents are under market so you would have to turnover some units but still... that's nearly hitting the 1% rule in a nicer suburb with schools rated 8+ with very little deferred maintenance. Got a 5 unit in contract for $825K with market rate rents of $6100. It will cash flow $2700/mo. A location.
You can get 8-10% cash on cash in a relatively major city in CA and you want to buy $70K dumps in the midwest? Whatever you focus on expands. If you think there are no deals in CA you won't find any but I can tell you there are out there and somebody is buying them every single day. Rant over :)