All Forum Posts by: J. Martin

ATTENDEES, LET'S SEE YOUR HAVE'S AND WANTS BELOW!
And what speakers are you most looking forward to?

@Aaron Henretty, @Adrian Sherman, @Alan Yuen, @Alex Kholodenko, @Alice K., @Amar Sandhu, @Andrew Cabello, @Andy Kaufman, @Angelo Wong, @Account Closed, @Annelyse Finley, @Ashok Bhojwani, @Avineet Garg, @Bernie Baker, @Bill Ganci, @Brian Larson, @Charles Ma, @Charlie Brown, @Chris Chia, @Chris Mason, @Daniel Cota, @Danny Duran, @David Faulkner, @David Poulsen, @Deepika Tandon, @Dina Eisenberg, @Enrique Saucedo, @Eric Z., Wong, @Eva Poon, @Faiz Sadeq, @Gabriel Baltierra, @Harper Sharma, @Henry Fuerte, @Janae Lacey, @Janet Voss, @Jason Hsiao, @Account Closed, @Jennifer Anderson, @Jeremy Geng, @Jessica Yau, @Jimmy Ho, @Jody Ryden, @Johnny Wow, @Jonathan Wu, @Juan Valle, @Justin Louie, @Kali Braunschweig, @Karen L., @Kathy Kalaba, @Katie P., @Kenneth Hynes, @Kimberly Stofan, @Lane Kawaoka, @Lindsey Haines, @Mai Vo, @Mano Chidambaram, @Mary Ann Casey, @Merced Fityan, @Michael Merritt, @Michael Ryan, @Mick Harvey, @Morgan Moore, @Myo Thien, @Nghi Le, @Nicholas Lohr, @Nischal Belthangady....

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J Martin
Have's:

1) Lots of Connections in the SF Bay Area in wholesaling, flipping, multifamily, etc.
2) Knowledge about furnished rentals, corporate rentals, Airbnb, etc
3) Knowledge about rent control in Oakland & San Francisco
4) Connections & knowledge about lending
5) and this !
6) Economic Research & Speculation

Wants:

1) Pay you market rent for your apartment in the SF Bay Area, and put awesome high-quality corporate renters in.
2) Land in Santa Cruz County
3) Interesting investing opportunities everywhere
4) Travel the world!

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 Attendees, please post your "Have's and Wants" below so we can all get acquainted before we arrive at the Summit!

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J Martin
Have's:

1) Lots of Connections in the SF Bay Area in wholesaling, flipping, multifamily, etc.
2) Knowledge about furnished rentals, corporate rentals, Airbnb, etc
3) Knowledge about rent control in Oakland & San Francisco
4) Connections & knowledge about lending
5) and this !
6) Economic Research & Speculation

Wants:

1) Pay you market rent for your apartment in the SF Bay Area, and put awesome high-quality corporate renters in.
2) Land in Santa Cruz County
3) Interesting investing opportunities everywhere
4) Travel the world!

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www.sfbaysummit.com

And join the facebook page below!

https://www.facebook.com/events/1249583575053922/

@Account Closed,

You can also find 4plexes at about the 1% rule in Richmond, after you raise rents.. I have a couple properties out there.. But they tend to decline in value during downturns. If you're holding for long term and getting cash flow, maybe not a big deal..

 Rahul,

The inland areas tend to be more volatile in price for several reasons.

1) They are "spillover" areas. When prices get high in the core SF Bay, more and more people look further out for a home. They go from SF to Oakland, Berkeley, and Walnut Creek. From there out to Richmond, Pittsburg, Brentwood. Then eventually out to the Stockton area when the rest gets too expensive.

2) Higher and more volatile unemployment than core Bay Area. Unemployment is both higher, and much more volatile during downturns in the Stockton area.

3) Lending + more foreclosures during downturns. Prices tend to go up significantly at the end of a cycle in these areas, while lending is good and people can qualify for loans, with their new highest-ever paying job - then there is a recession. And there are foreclosures. I bought a foreclosed 4plex in Richmond during the crisis that had been foreclosed on 2 of the last 3 downturns.

Remember, it's not all investors out there.. So it's not all about cash flow when it comes to single family home prices. And there are many single family homes in Stockton today that would not cash flow.. Houses are not $50-100K/apiece out there any more, and rent increases have not kept up with the dramatic increase in prices..

At least, that's my 2 cents.. (graph included!)

 And the late-cycle spillover continues! ;) This is why I bought in secondary areas in the downturn.. ;)

@Israel R.,

Welcome! There are lots of Bay Area investors on here, some of which are investing out of state.. You should check out @Beau Eckstein's meetup not far from you, and come out to Oakland or SF some time.. @Johnson H. also has a meetup in Milpitas and @Jeff Pollack in San Jose each month. Great people and a fun time :) A couple hundred of us will also be meeting next weekend in Oakland if you can make it!

@Livia Susan,

I think it partially depends on how much time and energy you want to spend on it yourself. And how good you are at design and want it to look like. My buddies that flip houses often hire a designer because it pays. For rentals, that's rarely done..

Is this a high-end luxury office? Or basic Class B space? Do you have contractors you can use?

Sometimes it's tough to find contractors right now, especially at a reasonable cost. So if they have that contact, that's one consideration. @Tariel G can usually get things done.

Everyone is looking for quality, price, and speed. You should get at least 2 out of 3, but some are lucky to just get 1 nowadays! It's busy out there! Best of luck :)

@Ashley McClure and @Chris May,,

I bought a duplex in West Oakland a while back from @Brandon Lee . Not sure how many he runs into up here nowadays (give me the good ones first Brandon! ;) There will be wholesalers at the Summit next weekend in Oakland (along with Brandon) if you all can make it..

@Ryan Hopkins and @Heather Hopkins,
Can you send me the info on the Hayward 8-plex? I'm interested in any off-market multifamily deals in the Bay Area.

@Shannon Wright,

Stuff in the SF Bay too..? Or just other parts of CA..?

@Tristan Cottarel,

Congrats on getting started in your RE investing career so early in life! I didn't really start learning about RE until I got my first job out of college, and finally quit that sh*t at 31yo this year! I'm sure you'll be out of the W2 even earlier.. (or maybe not even have to start it hehe ;)

Good you're reading up.

BIGGEST TIP

If I could have done one thing earlier in my investing career, it would have been to start networking here on Bigger Pockets AND in person at local meetups earlier. Sooo.. I recommend to check out @Johnson H.'s meetup in Milpitas, @Jeff Pollack's meetup in San Jose, and come to SF to visit sometime also at my meetup! A bunch of us are also meeting up in Oakland with a bunch of investors from the Podcasts next weekend if you can make it..

I don't wholesale, and as @Chris V. said, there are lot more people who like the idea of wholesaling, than are actually successful at it.

I started a little further out in the Bay Area, but not as far as Stockton or Modesto. I bought in Richmond, then in Oakland.. The tertiary areas like Stockton tend to be the most volatile in price, and similar to Richmond, tend to have price drops and foreclosures in every economic downturn. I bought a foreclosed 4plex in Richmond that had also been foreclosed on in 2 of the last 3 cycles. And if I sell it to someone in the next year if the market stays hot, it may just end up there again! So I'd be cautious about buying in tertiary areas late in the economic cycle.. Just my 2 cents.. @Account Closed's posts..

@Didier Macias,

Welcome to BP! I hear you brother! I quit my W2 job at 31yo this year We've all thought it was impossible to start investing in the San Francisco Bay at some point, but I'm sure you'll find a way ;) There are a lot of awesome investors on here from the Bay Area. Go meet some people in person!

@Johnson H. has a monthly meetup in Milpitas that you should definitely check out. It's the same one @Andrew Wong linked to. (Sorry couldn't make it last time! Same date as mine.)

We also meet in SF each month - and once a YEAR - a bunch of the experts from the podcasts and a couple hundred Bay Area investors will be meeting in Oakland for a big Summit (check out my profile link). Marketers YellowLetters.com Michael Quarles and New Refined Images Jerry Puckett will be out to share, along with 30 other speakers.. Plus Jason Buzi, who made over a $mil last year wholesaling in the Bay! So if you're interested in wholesaling and flipping, come out!

"The best time to plant a tree was 20 years ago. The next best time is today." ;)

@Walter Minja,

How's it going in El Cerrito?! I own a couple properties in Richmond, and rents and prices are just humming along in these lower-end areas.. Seen anything worth buying lately..?