Trying to find a Four plex in the Bay Area, CA

[Paul Hutcherson]

Recently moved to Walnut Creek, CA from Jacksonville Beach, FL.

I am currently looking to buy my first property, this will also be my primary residence. I am looking to build equity in the property as well as specifically looking to purchase a Four-Plex. Since I work in Downtown San Francisco and intend on living the in one of the units I want my max commute to be 50miles. I have no debt, no car payment, and my income is alright. I am prequalified for a decent amount all things considered not making that much in this market.

As I am starting to become more efficient at analyzing properties rent control seems to always be the deal breaker. Cash flow is a but a dream out here so I am just trying to cut down on my rent payment as much as possible.

I feel like using the public MLS platforms are just helping with actual market value and trends. That being said I believe searching for off market deals seams to be the way to go in the Bay Area for my situation. I am trying to dive into real estate investing and believe creating a mailing list and searching for current lackadaisical landlords on Craigslist might be the golden ticket.

Perhaps buying a single family residence and renting out rooms would be more feasible. Then I could focus on buying multi-family units out of start or back in Jacksonville.   

Thank you for your time,

[Calvin Kwan]

Look for 2-3 plexes as they are more investor friendly, especially if you OMI.  Also, learn the rent control laws and you should be able to make it work.  You'll find plenty on this forum who are cash flowing in the Bay Area and making the 1% rule.