All Forum Posts by: DJ Dawson

@Ramki D. hope your trip to sacramento was a great one! My suggestion would be to meet with an agent locally so that they can give you an idea of what the market is like here, there are plenty of areas in Sacramento that you are in a nice neighborhood then you go over a couple streets and its the HOOD.  Some areas I would suggest as an agent here in Sacramento would be West Sac, north and south Natomas, Pocket, Oak Park, Curtis Park, Land Park, Tahoe Park.

Best of luck to you and if you would like to speak more about Sacramento I would GLADLY like to help.

best of luck!

Hey @Roopali Bahal welcome to BP!!

A non-owner occupied rental property will need a minimum 20% down payment, this isn't accounting for closing costs such as appraisal, inspections, etc (depending on the negotiations your agent is able to work in your favor :)

With this being said you shouldn't anticipate buying anything over 100k-110k with that kind of cash on hand. BUT FEAR NOT!!

While something in California may not fit your needs there are plenty of options all over the country that can be worked in your favor if surrounded with a SOLID team of individuals (such as prop managers, realtors, handymen, etc.)

best of luck!!!
 

"MLS deals" don't exist from my experience and if they are there they have the same scenario as what you have explained above. Wholesalers and creative marketing are the way to finding deals in 2020. It aint what it used to be :)

Hey @Eric Long you are pretty accurate with your analysis on house hacking in the bay area (specifically San Jose) being NEARLY impossible. I say nearly cause I just heard David Greene on the BP podcast talk about how he helped somebody house hack in SF lol. 

I would suggest reading David's book out of state real estate investing before you take another step towards committing to OOS. It will provide the road map for you in regards to how to get started. You can start to identify some markets that seem attractive to you and dive into BP and build some connections as well!

Good luck man! Anything worth having is HARD! Remember that!

I really enjoy the real estate roundtable group, there is also a small biggerpockets meet up in West Sac (actually its tomorrow!) hosted by my good friend @Sergey Tkachev at Sal's Tacos in West Sacramento. I would suggest checking them all out (at least the ones that are free LOL) 

Hey @Anthony Vargas what extent of work are you looking to hire out?? My suggestion would be to build a relationship with as many subs as you can to better control variables in the project rather than give all the responsibility to one GC. Just my suggestion. Best of luck my friend

@John Montgomery welcome to BP! love your story man! it will help you down the road believe that!! Where are you located? Best of luck on this journey

@Jason Pennington make sure you are working with an agent who #1 has worked with investors in the past #2 is an investor them selves. It's easy to give advice from the sidelines when you've never been in the game. If you are looking to buy something that needs work but do not know how to price out said work or even know if a contractor is giving you a decent bid i would suggest STOP.

Your first deal going wrong could absolutley BURY you (trust me). I would suggest continuing to surround yourself with people have done what youre looking to do before and learning from them as much as you can.

Generally too, if you are dealing with a high performing agent who has said experience they usually can send somebody your way cause as David Greene says "rockstars hang out with rockstars". I am an agent and flipper here in Sac if there is any way i can be of help feel free to reach out!

If you don't have the time personally to do the dirty work:

door knock

mailers

tax liens

pre foreclosures

probate

etc.

you'll have to work with a wholesaler (which is not necessarily a bad thing) always run your own numbers but if you can find a wholesaler who is reputable and your numbers work, let them make their fee and move right along :)

@Jason Pennington what’s up Jason and welcome to BP. Have you read the ultimate beginners guide to RE investing? It’s a free e-book from BP that can provide some insight to what aspect of investing you might find to be your fit.

I’m flipping locally here in Sac and the Bay Area and am an agent as well.

Let me know if there’s anything I can do for you and let’s connect!