New to Real Estate · Bay Area, CA · Member since 2019 · 12 posts · 2 votes
How's it going BP! I'm Brody Martinez. I am new investor looking to house hack into my first deal somewhere in either Livermore, Castro Valley, or Concord in a SFH within the next 6-8 months. I was wondering if there are any local investors that would want to meet-up for a coffee sometime within the next month (I would wear a mask). I would love to talk shop, and hear out some recommendations on some RE agents, lenders, and contractors in the area. Thanks!
Hello! I’m in Castro Valley. Just bought a house to live in with my family and I’m now moving on to my goal of purchasing two buy and hold properties in the next year. Won’t be here, though. Looking out of state where I can get my feet wet with a little (read: a lot!) less capital. Reading books and listening to podcasts to build a base of knowledge. I’m determined not to get stuck in analysis paralysis, but it’s hard! The more I learn the more I realize I don’t know. I was feeling much more action oriented before I started diving in deeper. (Almost bought something on Roofstock on a whim!)
I’d be happy to get together virtually or in person when The Covid tide recedes. It would be great to exchange ideas.
Hi Brody! It is nice to finally see another Bay Area person in the BP forums. I feel there are not many of us out there!
I am also a newbie here in San Francisco, but I am just learning currently. Though I know you are looking for someone with more experience, which is totally understandable since you are looking to invest soon! Congratulations!
I never really looked in the Livermore/Castro Valley/Concord areas, how is the market in those areas? I would love to connect if you are interested.
Hi Katalina! Sorry for the late response, I definitely need to improve on how often I check up on my notifications.
The Livermore & Castro Valley markets are pretty pricey and competitive for SFH, especially for newbies like us. I am mainly looking in this area, as it is very close to my employer, and I am looking for a commute that wouldn't kill me. It seems like a large majority of SFHs that I would consider house hacking, if not all, are usually negative cash flow while occupying one of the rooms (that is only from browsing through platforms like Zillow & Redfin, may be able to find some better deals through an established RE agents when I get to that point in capital). Although bringing in positive cash flow in the beginning would be awesome, I am hoping to largely reduce my mortgage expense and increase my principal pay down (or maybe force some equity w/ a potential value add property) by renting out the rest of the rooms individually to help me save for potential out of state investment opportunities or cities further out in CA that have lower purchase prices.
Thanks for reaching out! I am definitely open to connecting with other like-minded people like you!
No worries Brody. I posted a forum as well and I need to have better notifications on them too. Such interesting insight to hear from you. I have seen many California residents purchase out-of-state, many of their first investments, which I find scary but I feel doable (of course considering finding a good team). I have thought of house hacking, but as you mentioned, California is a very expensive market.
I am still trying to build a foundation for financial literacy and real estate investing. I would love to connect and chat sometime if you are open to it.
Hello! I’m in Castro Valley. Just bought a house to live in with my family and I’m now moving on to my goal of purchasing two buy and hold properties in the next year. Won’t be here, though. Looking out of state where I can get my feet wet with a little (read: a lot!) less capital. Reading books and listening to podcasts to build a base of knowledge. I’m determined not to get stuck in analysis paralysis, but it’s hard! The more I learn the more I realize I don’t know. I was feeling much more action oriented before I started diving in deeper. (Almost bought something on Roofstock on a whim!)
I’d be happy to get together virtually or in person when The Covid tide recedes. It would be great to exchange ideas.
Congrats on purchasing the home in Castro Valley! That's awesome. It sounds like you and I have very similar goals with the idea of looking out of state to get our feet wet with less capital. I have been reading David Greene's book Long Distance Real Estate Investing, as well as listening to many BP podcasts to try to build my knowledge on investing out of state. What out of state cities have you been looking into?
I would definitely be open to meeting virtually to hear about how you are running your deal/market analysis to determine potential good deals. Thanks for reaching out!
Rental Property Investor · Livermore, CA · Member since 2019 · 77 posts · 23 votes
6y
@Brody Martinez
Hi Brody,
I am a livermore resident as well and currently am in the process of converting my single family home into a house hack with an ADU. I'd like to meet and I can give you some of the things I've been working on and my connections in contractors and lenders. Shoot me a message and we can meet up.
Real Estate Agent · Livermore, CA · Member since 2016 · 173 posts · 74 votes
5y
I just came across this post and am excited to see people on BP from my area. I’m in Livermore, have 2 rentals in Livermore and a 4 unit in the Central Valley. This year I’ve been focused on buying out of state. Would love to connect if you all do a zoom meet up sometime.
@Jared Lomker
How's your ADU addition going? We had plans done to add own to the house we live in, but the prices to build have kept us from moving forward. It won't be a rental, but for my mom.
I’d also like to add one on a rental property we have. Would love to know how your project progressed.
Hi Guys, I just joined BP yesterday and am glad to see bay area members. I am new to real estate investing and am looking to buy and hold a rental property in and around tri-valley within the next one to two months. I'm in if you guys are planning to do a virtual meeting.
Investor · Bay Area, CA · Member since 2020 · 35 posts · 9 votes
5y
Hello all, just found this thread myself. Great to see bay area members in BP. I am in for the zoom meeting. I will closing on my first buy and hold in Florida. Working on a second deal and would enjoy talking to fellow investors.
Rental Property Investor · Livermore, CA · Member since 2019 · 77 posts · 23 votes
5y
@Maria D'Aura
Hi Maria,
Good work getting into our market. No easy task.
Our ADU is moving slowly but finally picking up speed. The city has been the worst in the sense of time. They say it's covid that's causing them to be slow. We should have it completed before spring. One bedroom, attached, 700 sqft. I think the ADU concept in California to add revenue to a SFR is huge.
Real Estate Agent · Livermore, CA · Member since 2016 · 173 posts · 74 votes
5y
@Jared Lomker
I'd really be interested to know who you are using for the ADU build. My plans are for adding 350 sqft and reconfiguring some existing space to carve out a small attached 1/1 ADU. I got three quotes.
1. $200K for the shell only. No interior finishes.
2. $265k complete
3. $315k complete
I have been having sticker shock and having looked for another company.
I agree the permit department is slow. I’ve tried calling with questions about building a detached office and can’t get anyone to even return my calls.
Rental Property Investor · Livermore, CA · Member since 2019 · 77 posts · 23 votes
5y
@Maria D'Aura
The permits have definitely been a slow process. I’m happy we are finally moving forward. I am doing a majority of the work myself and am using subcontractors for the stuff I don’t like. Message me and I can share my experience and we can connect. I see you are a realtor and am looking to network locally.
Also my father in-law is a contractor and specializes in ADUs. I’ve worked on several with him. I’d be more then happy to connect him with you.
Hi Jared and All, i live in Mountain House, great to see somebody local on BiggerPockets. I am also in the process of reconfiguring my space to add a separate dwelling unit. Would be in for a zoom meet up for sure.
Sorry for the very late response. That's awesome! Any investing in California seems to be pretty tough, so congrats on the 6 doors! I have been primarily focused on looking in the East Bay for a house hack, but I am always open to networking and talking about OOS investing since that is one of my overall goals. Let me know if you are still open to hopping on a zoom.