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Updated over 4 years ago on . Most recent reply
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[ Bay Area ] Feasible to start RE portfolio with a multi family?
I need a reality check from those in the business. Is it feasible to begin with a multi family near the bay area?
I live in San Francisco, but work in Palo Alto. I believe I'm priced out of purchasing in my high COL area for some time, but I've seen listings such as this one ($0.5M four plex in Sacramento) which seem feasible to manage from a driving distance of a couple of hours during the weekends. A $100k downpayment would make me housebroke, but I might consider the risk for the right opportunity... I submitted a mortgage loan application via Chase yesterday, and their response may influence the range that I can explore either up or down.
Do you feel that this is a sensible beginning strategy? Does any of the above raise any red-flags?
Any thoughts on the above would be greatly appreciated! This is my first post on BiggerPockets ever.