All Forum Posts by: J. Martin

@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..?

Hi @Ari Archer,

I own properties in Oakland and Richmond that I bought back from 2012-2014 (house-hacked first 4plex in Richmond), so have a similar experience in regards to your situation.

First, it sounds like you have a single family home. Is that right?

#2, have you thought about building an accessory unit (small "granny" house) in the back, living back there, and renting out the main house?

Personally, I wouldn't want to prepay my mortgage below 4%, or accelerate payments on a 15yr mortgage to save 1% extra, when I believe I can earn significantly more investing my money.

I recently moved my stuff back to a cheap room in San Francisco I used to live in, and have all my furnished rentals to live in when I want..

@Chris May, interesting you actually sold.. Berkeley is on fire, so I understand.. Interesting that you are looking to buy something else, although sounds like maybe a duplex.. Although, getting the homeowner exemption, maybe not as big a deal selling..

I haven't sold any of my properties - although would potentially consider selling one (shared driveway w/ PITA neighbors), and West Oakland has gone WAY up with rent controlled tenants.. Perfect owner-occ opportunity... But there are both specific reasons..

I prefer to hold real estate forever :)

Come out to some meetups and network with other investors!

@Harman N.,

Glad you could make it out to the meetup, and congrats on getting active on BP!

I've never been the "save for a long time" type of guy (and accumulated ?$1MM in debt by the time I hit 30yo - but to each their own! ;) @Chris M is a lender if you're looking for someone who knows their stuff..

Sorry the rehab's going a bit long, but yes, you should be adding equity. Definitely heed the word of @Amit M. - tread carefully. Amit, I told Harman he might be able to get you lunch and pick your brain about adding a unit in SF if he comes out to the Mission..

There are successful out of state investors, but many have not done it right also.. Takes a lot of up-front research work.. There will be SF Bay and Out of State pros at the Summit next weekend if you can make it.. (see signature link) @Charlie Brown, I'll see you there!

@Account Closed's REI BAR camp last weekend, and he's been crushing it taking the "non-turnkey" route. He has a podcast, and was generous in sharing how he does it at the meetup. I think he'll be out at the Summit to chat too if he can make it ;)

@Avi Garg,

Coming all the way from San Mateo.. There are people coming from across the country!! lol So glad you can make it out! It's going to be an awesome time!!! What topics are you most interested in?

@Rachel Bier,

Just saw you pop across.. glad you can (hopefully!) make it down from Napa!! :)  What speaker(s) are you really looking forward to meeting?

@Mary lou L., I recommend taking a 15min walk or quick uber/taxi ride from the hotel to the event space, as parking will most likely be 2 blocks away in a paid garage.  Glad you can make it out from Livingston!

@Deepika Tandon, if you're coming down from Chico, be sure to hook up with @Al Williamson , @David Oldenburg and the rest of the Sacramento crew. Al & Dave, are there a couple speakers in particular that you were looking forward to meeting?

Looking forward to seeing everyone there!

www.SFbaySummit.com

@Jay Hinrichs and @Brie Schmidt,

Wine tasting sounds awesome! I'm sure I'll be busy getting ready for the event, but I'll catch up with you on Friday evening for happy hour in Oakland.

@Chris Mason, join the wine trip! Are you going to make it to the Summit..?

 I wanted to come down to yours too Johnson, but next time ;)

Another Speaker!

Stoked to have Jason Buzi joining in to share at the Summit!

Jason makes a BOATLOAD in the SF Bay Area wholesaling, wholetailing, double-closing, and building high-end homes - some over $3MM.  Jason will share how NOT rehabbing properties might just make you the same amount of money with less risk, time, and capital, and share about how he's catapulted himself to millions in profit in an area where they say it's too high-cost and can't be done..

Check out an interview with Jason Buzi here:

http://reidiamonds.com/18-jason-buzi.html

Just sent you a PM / Colleague request. You might need to be colleagues to read it..
You can quit your job too.. Just network with people who are successful, keep learning, try something, and replicate what works!
 

Hi @Jill Rio,

Still rocking in SF! We'll have having a meetup this Thursday, 8/11/16 in downtown SF near Embarcadero BART station. . Generally, you can find them in the events & networking section of BP when they are coming up, for meetups hosted by BP members. Hope to meet you out there! I'll open up the waitlist so you can make it in too ;)