I’m a new real estate investor in east bay, and I’m looking for an agent to help me buy a rental property to hold long term for cash flow. Specifically, I’m looking for cash-flowing single-family homes (3+ bedrooms) or multi-family homes in which I can live in one room / unit, and rent out the rest. Given the market and property values, I’m looking for properties that need work or are owned by motivated sellers that I can purchase below market if possible.
The ideal agent would have some or all of these characteristics.
- East bay native or primarily works with east bay clients
- Has invested themselves or worked with investors before
- Has track record of finding off-market opportunities
Know of a great agent that fits the bill? Would love to get their contact info. Thanks in advance for your help!
I'm working with Israel Gonzalez, he used to be the leader of a door-knocking team for a construction company in Oakland, that served the whole east bay. He still knocks doors as a means of finding listings, so he actually finds off-market stuff from time to time. You should keep in mind though, that most sellers that want to sell off market are sellers who's buildings don't qualify for standard conventional financing (because they're in bad shape).
Anyway, he knows east-bay neighborhoods really well. It looks like he checks off everything on your list. Full disclosure, he is my dad, so grain of salt there, but might be worth a call for you two. If you're interested, PM me, and I'll connect you.
I'm Israel Gonzalez, I'm a Realtor (R) and I work with investors in the East Bay. I'm new to bigger pockets but I would be happy to help you.
I have lived in Berkeley for the last 45 years. I know the East Bay like the back of my hand.
We are a father son team who flip as well as buy and hold and wholesale. We have a agent who is very savvy with our system. We acquire off market property as well as highly discounted property. Let me know if you wanna chat. Thanks
Bill & Marc
Coast Development Group, Inc
I see that you are jumping in as opposed to waiting. :) Oakland is a great place to be.
P.S. I am a realtor.
Welcome to the real estate investor world. It's the power of holding and build equity in the long run. I am an investor myself and have lots of connections with real estate agents/brokers in the South Bay if you are interested shoot me a PM, we can chat on what you are looking for.
Here are some basic questions you need to ask yourself first;
What is your minimum CAP RATE (NOI)
How long are you going to hold the property
I worked with Marilyn Rodriguez, she is a real estate agent and an investor all over the US. She is located in San Francisco but had no problem driving out to the East bay with me to look at properties. I was looking for the same thing in Oakland, but the multiplexes that I could afford were mostly run down and total renovations. We actually found and closed on my first home in January. She has 30 years of experience, and it shows because she knew what to do in almost every situation that came up. I can say that her experience in the industry has help me buy a home faster than if I went with another agent.
I met her at a lecture that she hosts every other week, I would definitely recommend attending one of them. They are full of great information even if you don't use her as your agent.
Eric, just curious, what did you end up doing?
I am from the East Bay as well (Newark, CA) and very new to BP. Looking into purchasing a duplex/multi units for cashflow. I am interested in purchasing in the South Bay or the Fremont/Newark area. Really curious in what Eric end up doing as well!