California cities for beginner investors?

Question

Account Closed · Answer

Hey @Rob Pelayo and welcome!

I am a local agent/investor in Sac. I initially got my license to use for myself. I earned commissions off of properties I purchased for me.

I started doing real estate full time as an agent and use my license everyday now. But I would agree with @Jake Knight on this one - If you're looking to purchase just one or two properties a year I'm not sure it would make financial sense to do it. Besides paying about $600 to get your license there are quarterly fees involved with holding it, and then you'd need to locate a broker to hang it with etc.

As a buyer, you don't pay commission. You only pay commission when you go to sell.

Let me know if I can help you locate something in the Sac area.

-Sophia

Jeannie Kenes · Answer

I don't recommend getting a license. I am investor in Auburn, CA in which I buy homes for cash for flipping.  The people I buy from want fast money and don't want to work with realtors.

Rob Pelayo · Answer

Thank you @Dylan Vargas, @Gene Vityugov, @Mark Nolan, @David Goossens, @Enoch Conley for all the useful information! This definitely gives me a better scope of where to start my search.

Do any of you guys hold a real estate license? I have been contemplating whether or not to go for it. What is the best route. Taking an online course or going to a community college to take the courses? If so, which would you recommend that satisfy California requirements. Any pros and cons to doing this besides a couple hundred bucks and time for the course?

Mark Pedroza · Answer

@Rob Pelayo For a CA real estate license, required courses are R.E. principles, R.E. Practice and any (your choice) elective course; R.E law, economics, mortgage broker. Log-on to BRE website for more information.

Mark (N-CA)

Sac/Placer counties..

Jake Knight · Answer

Welcome, Rob. I think you'll get differing opinions on whether or not to get licensed, but if you're looking to just buy/hold for cash flow, I don't think it's necessary for now. Better to spend your time utilizing other educational resources (podcasts, books, networking, etc), or connecting with agents for comparable sale info.

As @Enoch Conley mentioned, download the meetup app and search for real estate investment clubs. Go to ones that have a lot of members. There are a few regular meetings.

Mark Nolan · Answer

@Rob Pelayo

Welcome to bigger pockets. Make sure to check out the Bigger Pockets Blog: https://www.biggerpockets.com/renewsblog/

It is full of great information.

David Goossens · Answer

Check out Los Banos and Fresno.

Gene Mattos · Answer

@Dylan Vargas mentioned a bunch of good markets.

I've had decent luck in Sacramento as well. After a while, I got tired of driving 2 hours whenever something needed to be done, so I ended up hiring a property management company out there. Not yet sure if it's worth it, but I'll give it a year or so before I consider switching back to self-managing.

Enoch Conley · Answer

@Rob Pelayo Get the app Meetup. There are a number of REI groups in your area.

Dylan Vargas · Answer

@Rob Pelayo Welcome!.....Stockton, Lodi, Tracy, Vacaville , Vallejo, East Bay, Pittsburgh, Antioch....the world is your Oyster Sir! Cash flow 200k duplex would def be Stockton, Lodi, etc. Other areas are good but not sure about 200k duplex. Point is there are so many opportunities around you. Good luck

California cities for beginner investors?

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