Newbie in Bay Area

[Claude Robinson III]

Hi members,

I am new to BP. Have read some articles over the years. Looking to start heading down this path into a more dedicated full time mode over time. I have been listening to the podcasts and reading. I am looking for guidance and mentorship in the Bay Area (where it seems impossible to start). Everyone says start in your background, but with prices in the $700k-$1M range I don't see how.

I work in the valley at a high tech company in a successful leadership role and have run my own businesses in the past. Looking to make a life change.

Everyone talks about a San Jose meetup. Can someone share the details? I am looking to meet and speak with others in the Bay Area who have started with no experience and are willing to share their stories. Coffee/lunch is on me.

Thanks,

C

[J. Martin]

@Claude Robinson III,

It's definitely more expensive here. But I was able to accumulate over $1MM in the East Bay from literally nothing a few years ago. The biggest boost to my start was buying a 4plex with an FHA loan. But not everyone has the flexibility/sacrifice to move to a place that it works in.. Separately, I bought a 4plex in East Oakland last year for $430K after rehab($385K purchase + 45K rehab), and it does over $60K/yr in gross rents.. So not everything is in the $1MM range.. But they're definitely not Palo Alto tenants either!

I've been to @Johnson H.'s meetups and @Jeff Pollack's - both good. Different. Johnson's is just networking with no speakers. Great group of investors. And Jeff always has a guest speaker, then some networking (and good beers at Hoffbrau!). Johnson and I have the same format, with a different mix and a few more people in San Francisco every month (check out signatures). So hop on BART and come say hi! The bigger/better the network, the better off you are! So check them all out!  Also, look for Joe Metz' meetup in Fremont since it's in your back yard..