Investor · Milpitas, CA · Member since 2015 · 40 posts · 13 votes
9y
I definitely do think it's always a good time to invest depending on your target cash flow. In Stockton, depending on the area where you should by; in my opinion zip codes such as 95219, 95209, 95207 are good zip codes to start with. You can still make decent cash flow after mortgage and expenses.
Lender · Temecula, CA · Member since 2012 · 60 posts · 23 votes
9y
Hi @Jesus Andrade, yes it is! Rental cash flow rates of return are getting slimmer by the month with the current appreciation, however, the flipping market is still very profitable should you purchase at the right price point. It is getting more and more competitive and some investors tend to overpay for their purchases because they cross major streets to nicer neighborhoods to comp out projects in the lower-valued neighborhoods. As long as you have solid comps that you cross-check/audit with numerous local agents and other professionals and the numbers check out, it is currently a top-10 market in the United States for real estate in general and a top 5 market for flipping. Good luck and please let me know if you have any questions at all - my team is currently very active in a handful of neighborhoods and zip codes.
Real Estate Agent · San Jose, CA · Member since 2017 · 111 posts · 66 votes
9y
Hi @Jake Leicht, was your team active in Stockton? I would love to chat with them, looking for a property to purchase for BRRR strategy. My price point is around the 200-350k range, preferably looking for a multi-fam.
Lender · Temecula, CA · Member since 2012 · 60 posts · 23 votes
9y
Hey @Johnny Hoang, yes my team is very active in Stockton still. We haven't been doing multifamily in the city but we have been very active with SFRs in the UOP area. I'm going to reach out to you via email...let's chat!
Rental Property Investor · San Ramon, CA · Member since 2017 · 35 posts · 12 votes
8y
Jake Leicht - recommendations on a good general contractor in the Stockton area? We are in the process of securing a duplex in Stockton and trying to get recommendations on contractors that are reliable, independent, and cost effective. It’s been hard to find one that meets each criteria. Recommendations would be helpful!
Investor · Redwood City, CA · Member since 2017 · 30 posts · 14 votes
8y
Personally, I'd hold my fire on Stockton unless you get a really great deal. If the market softens and home prices decline closer to employment centers in SF and Silicon Valley, as in 2008-09, people will not want to live so far away (and, if they're already in Stockton, may take the opportunity to move west).
Sunnyvale , CA · Member since 2017 · 373 posts · 362 votes
8y
Bluntly I see the growing attraction to Stockton as a very solid contrarion indicator. Reminds me of Morgan Hill and Gilroy in the late 90s. People were speculating on them just before the market crashed.
Rental Property Investor · San Ramon, CA · Member since 2017 · 35 posts · 12 votes
8y
@Andrew B. / @Sam Josh - the deal we have is for a duplex in the low to mid-200s in a decent B neighborhood that requires approximately $15-20k of work. Agreed with the fact that the market has stretched way to far, but unless we see a value add deal, we aren't entering the market at this stage. Folks that were able to enter the market post 2009/10, received a great entry point.
Since you are both from the bay area, I'd be curious to know what your REI advice has been to millennials?
Investor · Redwood City, CA · Member since 2017 · 30 posts · 14 votes
8y
@Jamie Shah If it's a great deal with positive cash flow and you can afford to buy and hold, go for it. I wouldn't bet on appreciation.
My advice would depend on your situation (including how much involvement you want in your investments) and goals (cash flow over time through rentals, larger quicker gains through flipping, etc.). Many California investors find that they need to look out-of-state to achieve returns, particularly if they're looking for cash flow. The BiggerPockets podcast, along with the forums, is a great resource to explore different investing approaches, including outside of one's home area.
Lender · Temecula, CA · Member since 2012 · 60 posts · 23 votes
8y
@Jamie Shah - a GC that is reliable, independent, AND cost effective!? Does such a thing exist? :)
I could share a few resources with you for sure, just shoot me a PM. GCs are the one area that I would never put my name behind as I've seen that there are egos in relationships that can strike a nice gasoline-soaked match with even the best intentioned investors/contractors. But I can share some names that I've worked with in the past in the city...just shoot me over a PM.
Jake Leicht - recommendations on a good general contractor in the Stockton area? We are in the process of securing a duplex in Stockton and trying to get recommendations on contractors that are reliable, independent, and cost effective. It’s been hard to find one that meets each criteria. Recommendations would be helpful!