All Forum Posts by: Nizar Basma
Nizar Basma has started 3 posts and replied 29 times.
Post: Moving must Sell my portfolio of Turnkey SFH in Chicago
- San Jose, CA
- Posts 31
- Votes 15
Post: San Jose, CA Meet Up for breakfast or lunch
- San Jose, CA
- Posts 31
- Votes 15
Hi All!
I wanted to see if anyone is interested in getting some breakfast or lunch over the weekend and discussing some real estate? This is just a friendly get together to meet each other and talk about something we are all passionate about. San Jose has plenty of options for breakfast and lunch so please let me know if you're interested!
Thank you,
Nizar Basma
Also, not sure if I am posting this in the right area. Please let me know if i need to redirect this somewhere else!
Post: New to real estate. Love to gain knowledge and meet new people!
- San Jose, CA
- Posts 31
- Votes 15
@Kyle Mccaw Thanks for the info! I am going through their website and like how it provides a break down of neighborhood grades (A-F). Will continue to check!
Post: New to real estate. Love to gain knowledge and meet new people!
- San Jose, CA
- Posts 31
- Votes 15
@Ali Boone thanks for the article and the info! It really hits home regarding narrowing down your areas of interest. As I have done research I have noticed that the original areas i've looked at are reaching levels in which cash flow investments are harder to find. The search will continue!
Post: Introducing: Long Distance Real Estate Investing by David Greene
- San Jose, CA
- Posts 31
- Votes 15
Originally posted by @Ryan Cox:
Potentially a helpful resource @nizarbasma
definitely looking into it. Thanks, Ryan!
Post: New to real estate. Love to gain knowledge and meet new people!
- San Jose, CA
- Posts 31
- Votes 15
Originally posted by @Vince DeCrow:
Hi Nizar,
Welcome! We share the same goal of starting to build wealth now to one day have the flexibility to live spontaneously. I do not live in California but have experience investing out of state. I would agree that there are some very good real estate investment opportunities for you that are outside of California and couldn't agree more with the markets that you mentioned. I have experience in all 4 of those markets in addition to Chicago, Dallas, Raleigh, and Denver.
I find these markets attractive for real estate investment due to their high population and wage growth, as well as their comparatively high-end demographics. Investing in markets that posses these characteristics helps to minimize potential impacts of market risk while also maximize potential for property value appreciation. With population growth comes demand for real estate, which then drives up real estate values, rental rates, and cash-flow.
With this said, I think its very import to have a deep and detailed understanding of how a market functions and have strong real estate broker/manager relationships before investing in it. Feel free to reach out to me personally, I would be happy to discuss strategy and additional questions that you have.
-Vince
Hi, Vince!
I guess what im trying to figure out is how you are able to narrow down your locations based on the characteristics you've stated above? What kind of resources are available to obtain the data?
When I am looking for a property to invest in i am usually start off by looking at the following: (not in any particular order)
1. Rent/Income Ratio
2. Types of work that are available within the region
3. School ratings
4. Price
The second hill to climb is to find a real estate agent and property manager that meet a good portion of your requirements.
Thanks!
Nizar
Post: New to real estate. Love to gain knowledge and meet new people!
- San Jose, CA
- Posts 31
- Votes 15
Originally posted by @Leslie Pappas:
Welcome Nizar, sounds like you are doing pretty well with taking all the right steps. This site is great for networking and getting a ton of real estate information.
I live in Silicon Valley, and I'm an investment advisor who specializes in real estate. I can tell you what people here have done to set themselves up for retirement. There are two types of investors here:
1. Buy or inherit and hold for a long time, then cash out and redeploy equity into potentially higher cash flowing properties or other investments.
2. Buy or inherit and hold all their lives while working the properties for income.
I've seen teachers, firemen, software engineers and all sorts of people utilize both strategies successfully. One way or another, however, the investors must work to pay down loans, increase rents and decrease expenses wherever possible. One way or another, they are building their net worth.
Building net worth is how you may possibly retire with fewer worries. If your retirement utterly depends on having adequate cash flow from your properties, any downturns will cripple you. AND you must maintain adequate reserves to take care of the disasters that may happen.
So my advice- build your equity.
Best of luck! Leslie
Thank you, Leslie!
Couldn't agree with you more. I started listening to the podcasts from show 1 and what i've quickly learned is that you need to start small both in investment size and investment price. In time you will build enough equity and reserves where it makes sense to move onto the next opportunity. This is mainly why i've decided to look outside of California simply because the price doesn't justify the investment for someone who is starting off.
Thanks for your advice!
Nizar
Post: New to real estate. Love to gain knowledge and meet new people!
- San Jose, CA
- Posts 31
- Votes 15
Originally posted by @Jordan Moorhead:
Welcome to BP!
I don’t have experience investing in those markets but have invested out of state. For me it came down to investing somewhere I knew and could find a deal in. The cities you’ve listed are hot right now with Houston being the least from what I know.
There are plenty of people on here from Cali that have invested out of state that can be of help. Passive investing or turn key houses may be of interest.
Thanks Jordan! Yeah from what i've seen it seems rational to look outside California for investments. That being said a property manager will need to be hired. Do you have any recommendations when looking for one? I understand that property managers wont take care of your property as good as you would yourself but what are some things you look for both positive and negative?
Thanks again!
Nizar
Post: New to real estate. Love to gain knowledge and meet new people!
- San Jose, CA
- Posts 31
- Votes 15
Hi, BiggerPockets community!
Im new to the website and have been listening to the podcasts for several weeks now. Even though I have family in the real estate industry its great to see a community like bigger pockets where people help each other out!
My goals:
Im located in the silicon valley working finance for a tech company. As awesome as it is to work in a fast paced environment, i've always wanted the flexibility to do what i want whenever i want (don't we all) without having to do the regular 9-5. I've always had the wish to be able to spontaneously pack up and head to the airport without having to worry about what my boss would say. Ideally im looking at price range under $200,000 to start off with.
My questions:
- How did you start? Throughout the past couple years i've noticed first hand the prices of homes sky rocket in California. For those of you who live in a similar market, how did you get your investment career started? Did you look to other states to invest?
- For those who invest out of state what attracted you to those areas and why?
- Its becoming very clear that investing out of state is my best option (please prove me wrong!) but I am more worried about where i would set foot? Dallas, Austin and Houston have peaked my interest along with Atlanta but finding the property manager as well as finding a property that will cashflow is whats causing me to hold back.
I have so many questions but I'll leave it at that for now! I appreciate all the advice i can get and thanks for your time!
Happy investing!