Bay Area Investors

[Michael Grossman]

Hi everyone!

Just finished "How to Invest in Real Estate" and I'm excited to start making some moves!

Like most of you, my goal is to invest in single or multi-family properties and start creating some passive income and equity.  The kicker?  I live in the Bay Area, home to notoriously high property values (depending on the location, a property may run you over 1 million for a 3bd2ba).  In Josh and Brandon's book they tell success stories of people who started off buying an investment property for $100,000 with 20k down.  Around here, this is not feasible.

I'm lucky to make about 120k/year, have a condo worth 550k and have about 40k liquid, but this still keeps me out of the running.

Those of you who managed to invest here, where did you start and where did you have success?  Is the best move to look out of state?

Thanks for the advice!

Michael

[Michael Grossman]

Thanks Jake!

This is a great reply.  The Reno area is one area I’ve considered.  Have you invested in Reno proper? Or in some of the surrounding cities?  I have a good friend in Sparks.

Michael