All Forum Posts by: Frank Wong

Hi Ratesh,

I like the Tri-Valley for SFH. Pleasanton, Dublin, and San Ramon. The houses are larger and in some cases new construction. Its close to Bart, the schools are good, and it gives a person the ability to commute to the South Bay or SF. As prices continue to climb in the South Bay and pricing many families out. I am seeing more and more people move to the Tri-Valley.

Hi Dan,

I would go with Richmond.  It's a higher demand area than Vallejo and the close proximity to SF will have a higher chance of growth in the long term.  It is also closer to you which will allow you to keep an eye on it easier.

Hi Mike,

Lenders will look at your 2nd home as an investment.  The close proximity to your owner-occupied home will be a big reason.   If you have enough equity in your owner occupy home you can always refinance out and buy your investment cash. 

Hi Jonathan,

I used Californialicense.com  for all my pre-requisite courses.  Its low cost and you can go at your pace online.  Don't stress too much about the test once you pass you are in the game.  I suggest finding a good brokerage to work for.  A big name helps (Keller Williams, Coldwell, etc) and work for a large top producing team. 

The most important thing for new agents is making money.  So in the beginning when you don't have any clients you have time.  Go do all the open houses for the top people in your office.  This will allow you to gain experience and also get buyer leads.  Never know when a buyer walks in and wants to buy the house. 

Don't rely on people in your office to teach you everything.  If you don't know, try to find out and learn yourself.  Most agents are too busy with their own work to help.  Don't worry about that.  It's part of the business.  

Hope this helps.

Hi Jorge,

Great post, thanks for sharing.

Hello Arthur,

I would sell the unit vacant.  There is a larger pool of buyers looking to buy to own vs investors.   If your goal is to get the maximum amount of money for the sale this is the best way.  The condo should move quick.  Lake Merrit is a very popular area right now. 

Hi David,

1. Insurance you can pay month to month.  I know Allstate does that.

2. Whatever your budget is after you crunch your rehab budget.  Add 10% to it.  Something always comes up.

Good Luck and kill it.

@Sharon Tseung

This is a great idea, I invest out of state because the cash on cash is so much higher than CA.  Things that I look for.

1. I look for a large market with growing industry stable rents and possible upside in rents.

2. I focus on C-B areas. It just doesn't make sense to buy in the best neighborhood with the best schools for my ROI. I also won't buy in D or below markets. Just not my cup of tea.

3. Price. I try to stay under $120k for SFR and buy the lowest price home in the area.

4. I try to buy value-add projects, something simple like a need for new floors and some light remodeling. 

5. It's also very important to know or have people you can trust in the area you invest in. If you have family or friends living in that market.  Makes a big difference. 

Hope that helps.

Hi Dominic,

It depends on what you are looking for and your price range.  Price will really determine which areas of Oakland you can invest in.   West Oakland is a very hot market right now.  Value-add properties are the way to go. 

Hi Rhonda,

Congrats on getting your license!  Exciting times ahead for you.  You mentioned that you are looking to learn from an agency or agent that deals with primarily with real estate investors.  What I have seen in my experience that there really isn't a specific firm that specializes in investor clients.  Finding an agent that works only with investor clients is very rare.  

My suggestion is to work for a major firm and try to work with a top producer in that office.  Learn the ropes, do as many open houses as possible. Try to build your database. Your main goal as a new agent is to make money.  On the side learn about real estate investing.   You are in the right place already here at BP.