Hey BP Forum,
I am going to start my REI career this year (To much time researching, now I need real world). I am curious if anyone out here is doing buy and hold, BRRR, or just plain old flipping in the west sacramento market. Like around the 95691.
Any and all advice would be a massive help.
I will keep everyone posted as I go through my deals and I look forward to meeting like minded people up here.
I live in west Sacramento and have done one live in flip 2 years ago. West Sacramento especially on the southport side is a great community and growing rapidly. With all the new things happening downtown there is a lot of potential for flipping but you pretty much have to be a cash buyer, the competition is fierce and the prices are high right now. Personally I don't see any potential for cash flow with buy and hold in this area but I am an amateur investor as well. Pm me if you want to chat more about the area there are some pretty bad parts of west Sacramento that you might want to stay away from
I think you and I are looking for the same thing and by the same age. We should talk and see if we can join forces. Send me a PM and we can meet up.
I live in West Sacramento, in Southport, and like Brian, I don't think there's potential in buy and hold here. I'm just starting out, and I love the area, but after doing some calculations and watching the market, the prices are just too high and potential rental income too low. Buying and flipping definitely possible. The area around Linden is very nice, with older houses that can use some updating and fixing up. Houses do seem to sell very quickly. The area north of the deep water channel and south of the 80 is OK. I have a friend that has a house there and has few complaints. Again, an older neighborhood. Schools are lower rated. North of the freeway is hit and miss, but mostly miss. If you're in Vallejo, I'd recommend taking a drive around the neighborhoods in West Sacramento to get a better feel for them.
So it seems to be a general opinion that investing in buy and hold near Sacramento isn't really worth it because they rarely cash flow at the current market prices. Would you guys say that it's a better idea to flip properties in this area?
You can pick up cash flowing rentals but they are going to be distressed, off market purchases that will require you pay cash and do some rehab.
@Pratik P. - buy in hold is doable in Sac but will likely require a scenario that @Joe Bertolino mentioned. @Elijah Artman purchased a 4plex last year that was distressed, he now rents 3 units and lives in the 4th, he can share his experience.
Flipping is tougher today than it was a few years ago but very doable, we should be closing on flip deal today (hopefully), after rehab. But starting to flip in the current market today is much more dangerous than it was 3-4 years ago, especially if you don't have experience. I'm referring to the Sacramento area.
@Andrea Stewart , @Brian Twigg , and @Sergey Tkachev I agree that we should meet up. This would be a great way for us to bounce ideas, concerns, and concepts. I am generally only free on the weekends as I work in the city.
@Sergey Tkachev the reason I am looking in the 95691 area is because I know the area, I know that it has potential for cash flow, and I feel that it is a market that can and will grow.
Let me know what works for you all.
I think it would be great to meetup sometime and talk. Weekends are the better option for me as well.
Next Saturday works for me! Coffee shop downtown, perhaps?
June 18, Saturday, 10AM works for me. Would meeting at Temple Coffee on K street work? Their coffee is good. Also, the floor is made out of pennies. New floor rehab idea?
Just kidding, it looks time-intensive.
I apologize for the late response. @Andrea Stewart , @Brian Twigg , and @Sergey Tkachev I have been doing the graduation run around for my daughter. I am officially done with that part of my summer this next weekend. Then I am free all weekends going forward. Lets make this happen.
New Holding company in the future...lol
@Andrea Stewart , @Sergey Tkachev , and @Jeremy Hanna I am actually going to be out of town this weekend so unfortunately I won't be able to make it. This time... Let me know how it goes and hopefully we can make this a thing. I think with a small team we can take on west Sacramento real estate.
I can probably make it to Temple this weekend. What time? They get very busy so we should reserve the large table outside.
I would be interested as well. I can attend at the 10AM proposed time. Please let me know if that works for everyone.
Will the 23rd work for everyone? @Pratik P. are you interested in joining?
My calendar is showing Saturday as the 25th. I'm available then.
I would be interested in joining you folks for coffee and make some connections. I am also starting out in RE investing. I live in the Bay Area and can make time any of the coming weekends (except July 4th) to meet up. 25th works for me to.
Temple on K street has various small tables outside that can be pushed together. If we get an estimated head count (I'm counting 8 at the most at the moment--correct me if I'm wrong), I can call and find out if it's possible to reserve some space. If not--I work part-time as an author; I was planning on arriving a couple hours beforehand and getting my word count in for the day anyways. I can always save some space.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing