All Forum Posts by: Jessica Yuan
Jessica Yuan has started 7 posts and replied 16 times.
Post: SF bay area advice on how to find partners on first deals
- New to Real Estate
- San Francisco Bay Area
- Posts 16
- Votes 21
@Arman Ahmed I see, thank you for the advice!
Post: SF bay area advice on how to find partners on first deals
- New to Real Estate
- San Francisco Bay Area
- Posts 16
- Votes 21
Hey everyone! I'm new to real estate investing and have been reading books, youtube videos, and talking to lenders/realtors. In bay area the single family homes are within my downpayment range but the rent I can get is barely worth the mortgage; multifamily seems to have more cashflow but I don't have enough money saved for such a downpayment. I saw a lot of people talk about partnering on their first deals, so I'm wondering if anyone could share their experiences and advice on how to find partners as new investor, this seems very daunting. What would the typical deal structure look like? and how did you persuade the other person to join you? how did you know you can trust them as well?
Thank you so much, I appreciate your insights.
Post: San Francisco Bay Area advice for first rental property
- New to Real Estate
- San Francisco Bay Area
- Posts 16
- Votes 21
Quote from @Rick Albert:
I grew up in the Bay Area and still have some friends up there so I have a high level view of the market.
As already mentioned, it is pricey. Good news is on the 4 ways to build wealth in real estate, high prices can mean high appreciation (3% on $700K versus 3% on $100K house) and high loan buy down. Basically you can build equity faster with higher priced properties.
If you can, I do agree that you should avoid manufactured homes unless there is something unique about it. I just helped a client buy one here in So Cal a few months ago but it was an amazing find and you never would have known it was a manufactured home. I only say this not because of the property specifically, but because of the HOA dues and everything around it.
Calling more Realtors looking for off market properties probably won't do much if what you want doesn't exist. You need to set realistic expectations first (assuming you haven't already).
My recommendation is to come up in price and buy a duplex. That way you can rent out the second unit and bedrooms if need be. The second unit's income can help you qualify. For example a very quick look in Alameda there are duplexes starting around $1M. Great schools, charming areas, etc.
I've worked with a great agent/investor up there if you want me to do an introduction.
Thank you so much for your reply Rick! I'd appreciate an introduction to your agent/investor connection. I've sent you a connection request
Post: San Francisco Bay Area advice for first rental property
- New to Real Estate
- San Francisco Bay Area
- Posts 16
- Votes 21
@Jake Andronico Thank you for sharing your story! This is really insightful
If you have any realtor recommendations in Sacramento I'd really appreciate a referral, thanks!
Post: San Francisco Bay Area advice for first rental property
- New to Real Estate
- San Francisco Bay Area
- Posts 16
- Votes 21
Hello everyone,
I've graduated from master's program and worked in the bay area for a year. I've become interested in real estate investing after reading Rich Dad Poor Dad, and I'm currently reading other books like Brandon Turner's Real Estate Investing.
I got a pre-approval letter for 700k for my first property as primary residence. I intend to buy and rent part of it, while living in it for the first year. However, the housing prices in the bay area are very high. Most of the houses within my budget are manufactured homes, but I've heard a lot of voices against buying them.
Anyone have suggestions on how to proceed with my situation? Should I contact more realtors and find out about properties not listed on zillow/redfin?
Thank you for reading.
Post: Newby invester in San Francisco Bay Area looking for advice
- New to Real Estate
- San Francisco Bay Area
- Posts 16
- Votes 21
Hello everyone,
I recently graduated from my master's and have worked in the bay area for about a year. I've become interested in real estate investing since reading Rich Dad Poor Dad. I've recently started on my first housing search for a single family home/condo that I can live in for the first year & rent. The housing prices are expensive around this area, and most of the homes within my budget are manufactured homes. I've heard a lot of advice against buying manufactured homes but other options seem few.
Any advice on how to proceed? Would individual realtors have more housings than what's being listed on Zillow/Redfin?
Thanks everyone for reading. I appreciate any advice.