Have you found a deal in the Sacramento, ca area?

[Brian Sherman]

Are you an investor in the sacramento, ca area? Are you finding deals in this area on small multi-family units (4 plex or less)? How are you going about finding them here in this crazy market? I'm about to buy my fisrt investment property (4 plex or less) and I am open to going off market through direct mailers or what ever strategy gets the best results. I have money ready to go, but I can also wait out the market, if that's what is needed. I'm not looking for more real estate agents to approach me to be their client. I'm only interested in hearing from people who have done buy and hold deals of their own. The more deals you've done, the better.

[Kathleen Brady]

I’d say the market is tight even if you are paying in cash. I decided to gamble on appreciation and overbid on a duplex that will have good cash flow in Oak Park after losing another all cash deal (I bid all cash, over asking and was outbid by a buyer with similar terms with an offer “well above” mine on a different property in the same neighborhood. I needed to do a 1031 exchange and the clock was ticking. My thinking was that I felt better about possibly overpaying than sending a boatload of money to the IRS. It was my first 1031 and I just shifted out of the Bay Area market so it has been a learning process for me. I might have been able to get a better deal if I had more time and didn’t need to absorb so much information so quickly but so far, no regrets.