My feet are semi wet in california!

Rental Property Investor · San Jose, CA · Member since 2014 · 22 posts · 11 votes

Hello BP, long time lurker who finally decided to sign up. I'm from Morgan Hill CA (San Jose) and have been getting my feet wet the past 14 months with real estate investing. All said and done my wife and I have 3 properties in Fresno CA, bought, renovated, and rented out. Its been a whirl wind but a blast at the same time. I Hope to get to know some other BP members, buy more properties, and have some fun along the way.

My goals in the next 24 months is to find a city (outside of CA) and acquire more buy and hold properties.

I'm still what I consider a rookie, but am willing to answer any questions, or take any wise words!

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William Newman

Real Estate Broker · Milwaukee County, WI · Member since 2014 · 89 posts · 38 votes

12y

@Garret Mayo,

Welcome to BP. This site is totally AWESOME SAUCE!! I see that you are already getting great advice from some of the experts in the game. I am a new investor here in the Milwaukee area. It is a very god place for excellent ROI. If you ever have questions about Milwaukee, give me a holler. I see @Mehran K. has properties here already, and I am sure that he can vouch for how good the market is... And congrats on your properties thus far. am sure that we will be talking again very soon.

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Mehran K.
Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
12y
Thanks for jumping in and introducing yourself here on the forums @Garrett Mayo! Big congrats on hitting the ground running with those 3 properties so far, awesome. I live here in SoCal and invest out of state.

Hope to see you more around the site Garrett!
0 Reply
Aaron Mazzrillo
Investor · Riverside, CA · Member since 2011 · 2k+ posts · 3k+ votes
12y
I always harp on California investors buying California. If Fresno is working out for you, why the change of heart? I think there are better opportunities locally than across state lines and Fresno is one of the markets I would definitely invest in if I were a NorCal kind of person.
1 Reply
Elizabeth Colegrove
Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
12y
what states are you looking at? We own property one in hanford and one in lemoore with a goal or closing on another two in 12 monthsMy parents own 3 in hanford and one in lemoore. The funny thing is my parents invested from out of state because this is such a grEat area. While we live here now my husband is active duty so at some point this will become out of state. Although other states have cheaper properties the fact that they donate appreciate and have triple the cost in taxes and double insurance has prevented entrance.

We should meet up! I would love compare notes!
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Garrett Mayo
OP
Rental Property Investor · San Jose, CA · Member since 2014 · 22 posts · 11 votes
12y
@Mehran Kamari Thanks 14 months went by fast and feel like I still dont know close to enough to do anything outside of buy and hold. Will try my best to take in as much information as possible. Also would be curious (without giving up to much) what states/cities you invest in?

@Aaron Mazzrillo Fresno is working, but I don't feel for buy and Hold its the best ROI. As mentioned above I hope to learn other real estate strategies over the next few months, but im not set on doing anything one way only.
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Garrett Mayo
OP
Rental Property Investor · San Jose, CA · Member since 2014 · 22 posts · 11 votes
12y
Originally posted by @Elizabeth Colegrove:
what states are you looking at? We own property one in hanford and one in lemoore with a goal or closing on another two in 12 monthsMy parents own 3 in hanford and one in lemoore. The funny thing is my parents invested from out of state because this is such a grEat area. While we live here now my husband is active duty so at some point this will become out of state. Although other states have cheaper properties the fact that they donate appreciate and have triple the cost in taxes and double insurance has prevented entrance.
We should meet up! I would love compare notes!

No states in particular, I have only just started to look and talk to others. Anytime you want to compare notes let me know.

0 Reply
Elizabeth Colegrove
Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
12y
I work in Visalia and live in Hanford. After work or on weekends I am pretty free and I love tea so in am always up for Starbucks! Just pick a date and time ;)

I truly recommend you look at all the costs before you go out of state. We bought two house in Charleston during 2012. We bought 90-95k class A townhouses. They rent for 1150-1250 and are going up. Great area! The problem is that South Carolina charges milige 6% for investors. it works out to 3x market rate. Insurance due to hurricane are 900-1200. Because the fees are so high my cash flow is dinged. Although I self manage from afair myself there are still costs.

Honestly I have found even better returns right here in Hanford . Both I cap rate and earrings on downpayment! I know some people like to "spread" their baskets for diversification. If our lifestyle was concussive of everything in one areas I would jump on it. Having an established system with people and contracts is a huge saving!
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Mehran K.
Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
12y
I own property in Indianapolis and Milwaukee right now. I find areas like this make it easier for me to stretch my dollar while still being a more passive investor. There are also creative ways to make money here in the California market, as Aaron, who is killing it, is doing. I feel you've got to be a bit more savvy around here to make things happen the right way.

There's also the issue of more favorable landlord/tenant laws outside of CA.
0 Reply
William Newman
Real Estate Broker · Milwaukee County, WI · Member since 2014 · 89 posts · 38 votes
12y
@Garret Mayo,

Welcome to BP. This site is totally AWESOME SAUCE!! I see that you are already getting great advice from some of the experts in the game. I am a new investor here in the Milwaukee area. It is a very god place for excellent ROI. If you ever have questions about Milwaukee, give me a holler. I see @Mehran K. has properties here already, and I am sure that he can vouch for how good the market is... And congrats on your properties thus far. am sure that we will be talking again very soon.
1 Reply
Jaren Barnes
Real Estate Coach · Chicagoland · Member since 2013 · 502 posts · 101 votes
12y
@William Newman lol ... "Awesome Sauce"... lol

@Garrett Mayo I'm actually hosting a south bay meetup May 21st, if you want details I placed them in the events and networking section: http://www.biggerpockets.com/forums/521/topics/127836-south-bay-meetup-at-harrys-hofbrau-off-of-saratoga-ave

Hope to see you there!
0 Reply
Jordan Thibodeau
Rental Property Investor · San Jose, CA · Member since 2013 · 486 posts · 170 votes
12y
Woot! South Bay Represent! Welcome to the forums @Garrett Mayo

I own a duplex up in Sacramento. Looking to purchase another this year.
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Garrett Mayo
OP
Rental Property Investor · San Jose, CA · Member since 2014 · 22 posts · 11 votes
12y
Originally posted by @Jordan Thibodeau:
Woot! South Bay Represent! Welcome to the forums @Garrett Mayo
I own a duplex up in Sacramento. Looking to purchase another this year.

I'm originally from the Sacramento Area. When we started 14 months ago we were debating between there or Fresno. Would be curious where in Sac you bought and plan on purchasing your 2nd one as well?

Good Luck!
0 Reply
Account Closed
Investor · San Jose, CA · Member since 2012 · 2k+ posts · 3k+ votes
12y
Hi Garrett,

Welcome to BP. Are you looking for someone semi dry in CA? Congrats on your accomplishment so far.
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Dmitriy Fomichenko
Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
12y
Welcome to the BP family @Garrett Mayo You came to the right place to learn all about real estate investing! Here are some recommendations for you:

Find and connect with other BP members that are in your area http://www.biggerpockets.com/meet

Set up keyword alerts to be notified of the topics that interest you http://www.biggerpockets.com/alerts

Wishing you the best!
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Dave VisayaPro Member
Moderator
Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
12y
Hey @Garrett Mayo welcome to BiggerPockets! Definitely start jumping into the community here!
0 Reply
Scott Demots
Milwaukee, WI · Member since 2013 · 192 posts · 13 votes
12y
Hi welcome to BP! You've definitely come to the right place to learn more about investing.

The community here can definitely help you navigate the REI waters. Search around and ask questions as needed. The information I've got from fellow members has been invaluable.

See you around the site!
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Brandon TurnerPro Member
Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
12y
Hey @Garrett Mayo welcome to the site! It's great to have you here. Feel free to ask any questions in the forums. Seeya around!
Podcast Guest on Show #92
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