Updated over 2 years ago on . Most recent reply
To scale quickly or utilize a large project
Hello,
I am looking for some advice, as well as some potential people to work with. I am currently living in the bay area of California and have been searching for a primary residence over the past 8 months with no luck. I am planning on switching my strategy for the next year or two and I would like to find a good realtor company that can help reach my goals.
Because the bay area is so competitive I am interested in investing out of the area, preferably in Southern California where I am originally from (Claremont, Pomona, Upland), however, I am also very open to investing out of state as well. I will do this while I continue to rent. My goal is to use a portion of what would have been my down payment (~$300 K) to invest in SFR or Multi-family to gain a monthly cashflow of ~$10 K. With this I will buy a house next year and use this monthly income to pay for my mortgage payments. I expect less than $300 K would be sufficient to gain this goal of $10 K / month. Would you agree with this?
I am looking for a real estate company that does not just look to sell me a house, but is also able to connect me with property mangers, contractors, lenders, etc in order to "build my team". I am not sure if it would be better to make multiple small purchases of SFR vs. one or two large purchase of multi-family to reach my goal of $10k / mo. I would appreciate any connections and advice.
Thank you,
Ben Geleris