You’d be surprised with what you can compete with, with the right type of offer and timing. I’m helping one of my clients into the Marina/Seaside/Monterey area and there has been some pretty good opportunities out there for 800K. I’d recommend looking into doing room rentals in Marina if you’re looking into the peninsula. I use to work for a developer called Shea Homes in Marina right across from CSUMB and we were selling brand new 4 bed 2 bath ( with loft so you can make it into a 5th bedroom very easily) homes for 700K and you can rent them out by the room for north of 800 / 1200 for private bath.
PM me @Heather Cooper & @Sarah Groth. I’ll add you to the notification so when we do have it it’ll auto send to you.
@Kenneth Johnson I’m glad to jump in to be of any assistance! David is going to potentially do a meet up soon also! More than likely a remote one due to COVID and all.
I have a question as well.....I own a home in the santa cruz mountains, los gatos...I am getting all kinds of solicitations from people wanting to buy my property. I am living in WY currently. What is going on with the market? It seems folks would NOT want to be purchasing right before a major downturn? Opinions?
@Kenneth Johnson I’m glad to jump in to be of any assistance! David is going to potentially do a meet up soon also! More than likely a remote one due to COVID and all.
Hi Johnny, I'm a newbie in Santa Cruz, and have been spending my time reading, listening to the podcasts, and trying to get as educated as possible. I'm now trying to figure out which meet-ups/groups would be the best use of my time...I'd be interested in learning about David's meet-up. Is there somewhere I can sign up to get more info/updates on these?
I have a question as well.....I own a home in the santa cruz mountains, los gatos...I am getting all kinds of solicitations from people wanting to buy my property. I am living in WY currently. What is going on with the market? It seems folks would NOT want to be purchasing right before a major downturn? Opinions?
Gayle, we're seeing a boom in interest here in Santa Cruz, multiple offers, many over asking. Mostly the homes in the 700-900K range, which is the smallest in supply. I think a big driver is the very low interest rates, and also the ability for a lot of the tech workers to work from home now. If you can work from home, you can reevaluate where you live. Also, very wealthy folks buying second/vacation homes. It's pretty maddening, as we've been looking to buy our first home ourselves, but that's how the RE game works I guess!
I second that. We live in Santa Cruz and are looking for properties where you can add on with an adu. I just put a bid on a $800k 2b/2ba that needed work. The property went for an all cash offer over $1M. Best case scenario, it could have rented for $4k/mo. I am perplexed and can't compete with the big money and deep pockets!
I second that. We live in Santa Cruz and are looking for properties where you can add on with an adu. I just put a bid on a $800k 2b/2ba that needed work. The property went for an all cash offer over $1M. Best case scenario, it could have rented for $4k/mo. I am perplexed and can't compete with the big money and deep pockets!
Ugh....I feel your pain. We just stopped putting offers in, it was futile. Definitely can't compete. Ihad to stop looking, Iwas pretty depressed. Now just focusing on more affordable out of state areas Ican start to BRRRR, and then figure out where we want to move!
You’d be surprised with what you can compete with, with the right type of offer and timing. I’m helping one of my clients into the Marina/Seaside/Monterey area and there has been some pretty good opportunities out there for 800K. I’d recommend looking into doing room rentals in Marina if you’re looking into the peninsula. I use to work for a developer called Shea Homes in Marina right across from CSUMB and we were selling brand new 4 bed 2 bath ( with loft so you can make it into a 5th bedroom very easily) homes for 700K and you can rent them out by the room for north of 800 / 1200 for private bath.
PM me @Heather Cooper & @Sarah Groth. I’ll add you to the notification so when we do have it it’ll auto send to you.
@Johnny Hoang : I would love to be added to the list as well if there is a virtual meetup that will be happening. I definitley want to reach out to investors that are in the San Jose area as i am new to this. Thank you so much!
Hi @Kenneth Johnson and @Alexis Kennedy, welcome to BiggerPockets! I host a meetup group in San Jose and we've been meeting virtually for the past month or so. Feel free to join us and ask any questions to the group. You can find us at meetup.com/everythingrei
You’d be surprised with what you can compete with, with the right type of offer and timing. I’m helping one of my clients into the Marina/Seaside/Monterey area and there has been some pretty good opportunities out there for 800K. I’d recommend looking into doing room rentals in Marina if you’re looking into the peninsula. I use to work for a developer called Shea Homes in Marina right across from CSUMB and we were selling brand new 4 bed 2 bath ( with loft so you can make it into a 5th bedroom very easily) homes for 700K and you can rent them out by the room for north of 800 / 1200 for private bath.
PM me @Heather Cooper & @Sarah Groth. I’ll add you to the notification so when we do have it it’ll auto send to you.
Johnny, thank you so much for the insight down in Monterey County; I've been looking down there as well, but was having a hard time working numbers on anything. I will PM you for notification of those meet ups. Thanks so much!