Investing in real estate in the SF Bay Area

[Savannah Kim]

I've had purchased 9 properties since 2009 in the SF Bay Area, and they have appreciated significantly (except the last two I purchased in 2017). I'd like to purchase more, but it's almost impossible to buy a rental property that cash flows here in the Peninsula. How can I invest smartly in real estate in this high price environment? Buying a fixer-upper doesn't seem to be lucrative either since labor costs are through the roof these days here in the Bay Area. Should I wait a bit longer (another year or two?) to buy another property or should I buy now? Is it worth buying something that will not cash flow or have a negative cash flow since it will eventually appreciate, rent will continue to climb up over the years, and the tenant will be paying for most of my mortgage and tax bills?