Merced, CA · Member since 2017 · 2 posts · 0 votes
I was just curious to see if there are any real estate investors in San Francisco, Ca or the surround Bay Area. I am a graduating college senior and I'm looking to get my foot in the real estate door! Looking for a potential mentor or someone I can learn from before I begin my journey. Thank you!
Specialist · San Francisco, CA · Member since 2012 · 72 posts · 28 votes
8y
They're out there but they will most likely never do a deal w/ you. Not trying to discourage you, it's just the way it is. I literally just got back from meeting w/ a top wholesaler in the Bay Area (which in itself is no easy task). He's not on BP, doesn't do meet ups, etc.
If you do find a successful Bay Area wholesaler, and they take a liking to you then you may be considered for a deal. HOWEVER you will have to act fast because any hesitation and that deal will be gone. You need all cash and to be able to have that money in their account w/ in a few hours. It's for the big dogs.
Again not trying to discourage you. Your best option is to find an area you like, even if you have to pay market rate, and add sq footage therefore increasing the value.
But what do I know. Don't quit, REI ain't easy but worth it. Just get started today. Do something, anything.
Wholetailer & Architect · San Francisco, CA · Member since 2015 · 544 posts · 298 votes
8y
They are out there. I would start attending meetups there are several in the Bay Area.
I would listen to lots of podcasts on wholesaling but realize targets like 70% of ARV minus repairs are very hard to hit here and some buyers will give you 80%
Read Jason Buzi's book Smash your Alarm Clock" he has an interesting take on our market and targeting higher end areas.
Deals are hard to come by so a lot of flippers do their own mailings. That said if you can find a deal and offer at a price with meat left on the bone you will have no shortage of buyers.
Specialist · San Francisco, CA · Member since 2012 · 72 posts · 28 votes
8y
They're out there but they will most likely never do a deal w/ you. Not trying to discourage you, it's just the way it is. I literally just got back from meeting w/ a top wholesaler in the Bay Area (which in itself is no easy task). He's not on BP, doesn't do meet ups, etc.
If you do find a successful Bay Area wholesaler, and they take a liking to you then you may be considered for a deal. HOWEVER you will have to act fast because any hesitation and that deal will be gone. You need all cash and to be able to have that money in their account w/ in a few hours. It's for the big dogs.
Again not trying to discourage you. Your best option is to find an area you like, even if you have to pay market rate, and add sq footage therefore increasing the value.
But what do I know. Don't quit, REI ain't easy but worth it. Just get started today. Do something, anything.