All Forum Posts by: Johnson H.

I’ll be there at about 6pm!

Hi All,

It's another month and time for another real estate meetup! These meetups have had up to 82 BiggerPockets and Meetup.com members chatting about investing in the San Jose area and also out of state. Just come by and mingle, there is no set agenda. We welcome anyone who would like to attend!

When: Tuesday, December 19, 2017, 6:30pm (usually I'm around at 6!)

Where: Parktown Pizza Company (Find us in the back area/room this time.)

1350 S Park Victoria Dr
Milpitas, CA 95035 http://www.yelp.com/biz/parktown-pizza-company-milpitas?sort_by=date_desc

Please support the small business by spending some money and tipping for the great service we receive every month! (I don't pay for the space nor do I receive anything from the restaurant)

In lieu of the round of introductions due to noise, you may introduce yourself and/or list your haves and wants in the comments section of this meetup.

Looking forward to meeting new investors and seeing familiar faces.

Thanks,

Johnson

South Bay , South Bay Meetup , Bay Area , Meetup , Meet up , Meet-up , San Francisco , Oakland , Berkeley , Alameda County , Contra Costa County , Solano County , Richmond , Hercules , Concord , Albany , Pittsburgh , Marin San Rafael , South Bay , Peninsula , Walnut Creek , Pittsburgh , Antioch , Pleasanton , Fremont , Castro Valley, San Jose, Milpitas, Sunnyvale, Fremont, Palo Alto, Santa Clara, Mountain View, Gilroy, Santa Cruz

@Jonathan Pflueger - If you are curious about who buys turnkey MFH in the Bay Area, go to those open houses for new listings of rehabbed MFH and if the building is priced well, you'll see the amount of people streaming in to tour a gorgeous updated unit with market rents. Even in the MFH space, people will buy with their eyes and love to see market rents without any other upside than the market bailing them out through additional appreciation. Investors are buying MFH all cash and no contingencies with these multimillion dollar MFH properties on the market. How do I know? Because I keep getting outbid on these properties either on terms or price or both. It is still a sellers market, if you can find yourself a deal (I mean a real deal and not one you hope and pray you'll make money on it) and make it look pretty, you'll have plenty of buyers. Just my two cents. 

@Account Closed does steal properties but with a smile. Its so hard not to stay mad at him even though I am envious everyday of his portfolio. I have been selling my OOS properties to get into the MFH bay area game. People say you can't make money in the Bay Area, that's fine, less competition for us!

Hi Ethan,

This brings back memories of me having an AirBnB unit in Vegas. Here are some thoughts to share. I didn't see wifi in the house, will you be adding that in the future? Also, if you have Netflix, sharing your Netflix account on a Roku or Apple TV is also a benefit you can offer. I would try to make the house look as modern as possible to appeal to your future guests. Finally, I would go after those that have stayed to give you a review!

Sign me up Nhi, I am a noob! :)

@David S. Minh makes offers on what he wants to pay. What the potential seller wants could be a different story lol. Like Minh says “You miss 100% of the shots you don’t take.”

@Rongsu Qi - It seems that Chinese investors have gotten spooked over the new capital controls. Unless it relaxes its hard to see huge demand from Chinese investors. The rich will always find a way to take out money of out the country but it sounds like its getting harder and harder for regular folks to do so. Take a read at this article here https://www.bloomberg.com/news/features/2017-06-22/the-100-billion-city-next-to-singapore-has-a-big-china-problem

@Account Closed - You give me too much credit. I just talk about what I have read and seen, its your choice whether you want to implement my words into actions or not. Don't give me any credit if I tell you to do something stupid either lol

I'm almost done selling my portfolio of AZ properties that I started to accumulate in 2010. Although some of my properties have more than doubled in value, I have not seen much rent growth. I would not buy any of the properties I am selling today at the current prices and they are getting close to its 2006 values. The buyers are usually marginal, a big difference than what you see here in the bay area. I've been wanting to buy in the bay area and possibly 1031x but I got conservative way to early and been left in the dust. Now I have been paying the taxes on my gains and accumulating liquidity to have the most flexibility during the next correction which is a matter of when more than if and jump in with full conviction. Here are two quotes to support my cash position:

“You can have all of the assets in the world you want, but if you have no liquidity it doesn’t matter.” “Liquidity equals value. At no time in my career has it ever been more clearly brought home to me than in the (2008)-09 period. If you had liquidity, you had value. … Everything comes down to liquidity, everything comes down to exit strategies, everything comes down to knowing when you get in how you are going to get out.” - Sam Zell

“Consistent with everything else written above, we think of cash as a trump card that can be played any time. Holding a card in your hand that ranks above all others is a secret weapon in the competitive game for the best ideas at the best price, allowing us to gain an advantage.” - Warren Buffett 

For those that are casual/passive investors in the bay area eager to buy investment property, I tell them there is nothing wrong with buying a house within 15 minutes away to have a free and clear property in 30 years that's easy to manage and in a great area. It is slow money, nothing sexy about it but it will secure a decent retirement income for your future with great peace of mind as you can easily drive by the property anytime you want. As old time bay area investors say, real estate in the bay area has ALWAYS been expensive. However, if you are looking to be active and create a large amount of wealth in a short amount of time it is not the right play and I completely understand that. 

People are concerned about timing but the following chart always pops into my head with this question. Yes, there has been some dips in our market but it has always made higher highs and higher lows, it is a channel with a upward trend. If history repeats itself as it has shown four times already in this chart, than the future of bay area will build wealth for everyone owning in the right areas. I have to say right areas as there are still some areas of the bay area that are not at its 2006 highs and others than have blown right past it. I think we are getting close to the next correction and I hope to be able buy during the next correction and hold forever. 

I'll end off with a few more quotes:

“If everyone is going left, look right” - Sam Zell

"Buy when there's blood in the streets, even if the blood is your own." - Baron Rothschild

"Our elephant gun has been reloaded, and my trigger finger is itchy." Warren Buffett

Hi @Account Closed that the timing doesn't seem right. However, I am still looking to buy with a value add component to bring that margin of safety to the table. 

Sorry for my ramblings above, my point is don't get discouraged. Even Warren Buffet recently got overbid on a company he wanted to purchase. Just keep learning and figuring out the market and the right play will present itself with enough hard work.

Hi All,

It's another month and time for another real estate meetup! These meetups have had up to 82 BiggerPockets and Meetup.com members chatting about investing in the San Jose area and also out of state. Just come by and mingle, there is no set agenda. We welcome anyone who would like to attend!

When: Tuesday, August 29, 2017, 7:00pm (usually I'm around at 6!)

Where: Parktown Pizza Company (Find us in the back area/room this time.)

1350 S Park Victoria Dr
Milpitas, CA 95035

http://www.yelp.com/biz/parktown-pizza-company-milpitas?sort_by=date_desc

Please support the small business by spending some money and tipping for the great service we receive every month! (I don't pay for the space nor do I receive anything from the restaurant)

In lieu of the round of introductions due to noise, you may introduce yourself and/or list your haves and wants in the comments section of this meetup.

Looking forward to meeting new investors and seeing familiar faces.

Thanks,

Johnson

South Bay , South Bay Meetup , Bay Area , Meetup , Meet up , Meet-up , San Francisco , Oakland , Berkeley , Alameda County , Contra Costa County , Solano County , Richmond , Hercules , Concord , Albany , Pittsburgh , Marin San Rafael , South Bay , Peninsula , Walnut Creek , Pittsburgh , Antioch , Pleasanton , Fremont , Castro Valley, San Jose, Milpitas, Sunnyvale, Fremont, Palo Alto, Santa Clara, Mountain View, Gilroy, Santa Cruz