Yet another newbie to Sacramento and BP

7 Replies

I'm new to BP and somewhat new to Sacramento. I'm looking for cash flow deals (small multi-family 3-8 units and SFR) between Fairfield and Reno, maybe even up Hwy 49 to Grass Valley. I don't own any rentals around here, but have property in SF and Scottsdale. I'm no expert. That said, I'm not all-in on the current market around here. I might wait awhile for next purchase, but want to start looking at deals now, get to know some viable areas and meet some of the many smart people on BP and in Sacramento/Fairfield/Vacaville/Woodland/Auburn/GrassValley/Reno. I travel quite a bit, so not sure I can do many meetups. Still, I'd love to meet and get to know people around here to help with deal flow. Part of my professional background is in resort development, so I'm also thinking about a project in Costa Rica next year. But that's more by way of my background and not relevant to my local interests in real estate. Despite owning a few properties that cash flow (mostly luck, not skill), I have a lot to learn about rentals and the rental market.

Welcome to BP @Bruce C.

I am sure people here would love to hear your experiences with resort development! Please share them when you have time in the forums. 

Welcome @Bruce C. !  BP is a great place to network even if you can't make it to meetups.  Just be careful that you screen the information you're getting.  People are trying to be helpful but some should refrain from posting if they don't really have the expertise in that area.  

I live in Auburn and I come across properties that pencil from time to time - Grass Valley, Colfax, Lake of the Pines, etc.  If you're close enough to make the drive, this area makes sense for the right person since there isn't as much competition as down in Sac proper or even Rocklin, Roseville areas.  You're off to a good start with your portfolio anyway it sounds like!  

I'd love to hear more about your background in resort development or any projects you're working on - sounds very interesting!  

Welcome to the area and good luck connecting with potential members of your future team.  I'll be happy to help with any financing questions you have.  

Hey @Bruce C. and welcome to BP. It's great to see another person from the area on here. 

What type of neighborhood are you looking to buy in? I mean in terms of A, B, C etc.. the type of tenant you'll attract is usually in line with the neighborhood. Nicer areas like a Rocklin or Folsom have great schools, low crime, nicely cleaned up etc. but property values are higher. Rents are higher too but may not meet a 1% rule or the other various rental guidelines that are out there. 

Have you looked into diversifying your IRA? Non-recourse loans in your IRA are great ways to tax shelter your cashflow if you're looking long term with your investments.

@Bruce C.

Welcome to Bigger Pockets. You are at the right place to learn about real estate investing.

Hi @Bruce C. ! Welcome to Bigger Pockets! You're in the right place!

There are two types of individuals that will be of most value to you here.

#1) Other Investors -- more specifically, those with buy-and-hold experience. They'll be able to share resources for all the things you'll need as a landlord (repairmen, lawyers, accountants, etc.) and also provide shared experience about maximizing rents, dealing with difficult tenants, etc. 

#2) Agents Who Understand Your Investing Strategy -- most agents are too familiar with investing using buy-and-hold strategies, but most here will at least be familiar with the concept. You'll want to work with one who fully understands your investing goals, needs, and requirements. You'll want them to help advise you which areas to invest in, how to properly analyze property values and potentials, and source cash-flow generating deals for you. And don't let them pressure you... if they keep trying to get you to purchase the first deal that comes along instead of helping you find the perfect property, lose 'em. They'll only steer you in the wrong direction.

And don't feel like you have to meet everyone all at once. Just be patient, and the right contacts will come to you over time. Don't worry so much about big meetups, focusing on getting face-to-face with one person at a time (agents should come to you by the way).

I'd love to grab coffee and learn more about how I can be of service to you and share all my knowledge of the Sacramento Area rental market with you. I'm currently working with several other investors who have the same goals as you and can provide you with lots of helpful info. 

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