If there are no deals in the SF Bay Area...

[Jonny C.]

then what can I do in the mean time besides saving and learning more about REI? Like a lot of people say on here, you just have to get started but it's tough if there's nothing to purchase. Ideally I'd love either a SFH or a 2-unit building with 75% LTV or less. Anybody seeing anything out there? Any where in or within 30 mins of SF.

[Account Closed]

Originally posted by :

Or maybe I'm just too much of a newbie to see it all.

Justin,

You hit the nail on the head with this statement. The Bay Area is flooded with old as well as new money.  Most of the good deals don't make it to the market unfortunately, but that's the fact of life.  

We're being offered a 7-unit off market deal in San Jose for $1.15MM now, and we're complaining that's high.  Just put things in perspective, we just rented out a 300 sq. ft. studio for $1,500/month and a 500 sq. ft. 1/1 for $2k/month. Retail investors would be all over this deal and more than likely bid it up if it hit the market.  Here we are.....still negotiating for a lower price and hope to settle for $1.05MM.  :-)

Newbies will have to get in line like the veterans.  We used to be newbies at one point, but we paid our dues and graduated to intermediate. Gotta put in the time.  Expecting a deal to be handed on a silver platter is going to be tough.  Like the old saying goes "If you're willing to only do the easy things, your life will be hard. If you're willing to do the hard things, your life will be easy."

Hope you will crack the Bay Area code one of these days.