All Forum Posts by: Drew Sukovich

Thanks for the welcome Scott.  I plan on being in the Chico area sometime during the next couple of weeks for a full day of information gathering most likely on a Saturday.  I would enjoy meeting with you to chat about Chico and Butte county real estate investing.  I'll contact you directly and let you know my plans and if your schedule permits it would be great to have lunch and talk.  Happy to pay for your lunch!

Cheers,

Drew

Thanks for the reply Jesse.  I'll include Paradise and all the surrounding area in my region of interest. 

-Drew

Ok armed with my new(bie) real estate investing knowledge after devouring a lot of information on BiggerPockets, it’s time for me to figure out where I will begin my real estate investment career.  I already know that I’m a buy and hold investor and looking to supplement my retirement income as part of my investment portfolio.  Plan on retiring in about 7-10 years.  So now it’s really a question of what will be my niche market and location.   I’m leaning towards a college town/area within California that is within 3-5 hours from the bay area but with a focus on SFRs not the student market. May consider students but not sure this is the way to go. It would also be good if it was in a place I would eventually like to retire to as well.

So this brings to mind Chico. Really like Chico area and a lot of Butte County. Interested in those knowledgeable in the area (realtors, property managers, contractors) if there is a market that allows for buy and hold investing with modest cash flow.  Doing some quick number running using the 50% rule I could not find many houses on Redfin, Realtor or Zillow that would allow for positive cash flow. Many where negative.  I realize I'm using retail value and not intrinsic value but it still seems like a difficult market even here where house values are low compared to where I live in the bay area.

So is buy and hold cash flow investing something that works in the Chico area?

How hard is it to purchase houses here at intrinsic versus retail value ie ease at finding deals...?

If so, I would love to connect with real estate agents and property managers that work and live in the area.  If this is a good place to invest I will make the effort to visit Chico and get to know the neighborhoods and real estate market.  

Thanks,

Drew

Thanks all for the warm welcome.  As several of you have mentioned I have a lot to learn and your comments and suggestions are helpful and much appreciated.  I have a friend r who is currently successful as a buy and hold cash flow investor in Sacramento and given the high valuations in the bay area probably will focus my attention there or potentially in the Chico/Paradise area.  I'm quite fond of Chico and may even be interested in obtaining my own property there sometime so this might be a good place to consider given the entry level cost to invest is much lower than the bay area.  In the mean time I'll take all your advice and keep learning as much as I can and start networking with property managers in those area's I'm interested in.

Cheers,

Drew

Hi all,

My name is Drew Sukovich and I live in the San Francisco Bay area.  New member here with little to no experience in real estate investing other than purchasing my own home about 20 years ago and going through the great intro course on BiggerPockets.  That is what landed me here - did a search for intro courses on real estate and found this wonderful site.  I'm looking to start investing later this year as part of my move into retirement in about 10 years.   Been living/working in the bay area for over 20 years.  My house is almost paid off, kids are done with college and I'm now interested in starting a new phase in my life as I get closer to retirement.   Current plan is to learn as much as I can over the next couple of months, make some new friends and potential colleagues here on the BiggerPockets and start my real estate investing career later this year.  I'm already sure that I'm be a buy and hold investor focused on cash flow.  The real question is now what niche and location. 

Cheers,

Drew