New investor from SF Bay Area (Fremont/San Jose)

[Neil Anthony]

Hello everybody!

I'm located in the San Francisco Bay Area (Fremont) and I'm fairly new to real estate investing. 

After doing a little bit of research, I'm looking to invest in SFRs that cash flow. I understand that deals could be had a couple of hours from my house, but working full-time with a newborn son would make it quite difficult to self-manage. So if I'm to outsource to a PM anyway, I'm thinking of looking out of state where the cash flows are more likely to be better. I realize that I won't have the required time and resources to build a team out of state at this point in my REI career, so I'm thinking of going the turnkey route for now. I've read the Ultimate Beginners Guide, listened to a lot of the BP podcasts, and read a few of the more highly recommended books and I think I'm ready!

My goals are:

Within 2-3 months to purchase my first investment property.

Over the next 5 years, to average purchasing 1-2 properties a year initially using conventional loans, then to perhaps investigate alternative financing as I hit the loan "limit".

Assess my investment strategy after 5 years. Start considering multi-family/commercial? Flipping? Who knows!

My long term goal (10-15 years) is to achieve financial independence by generating approximately $12k a month in cash flow.

Of course all of this is subject to change due to unforeseen successes or challenges during my journey – but that's what life is all about!

In order to achieve goal #1, I need to target a solid city/market and possibly a reputable turnkey company to help get my foot in the door.

Any suggestions????

Oh and as an aside I'm actually an Enrolled Agent (IRS authorized tax preparer/planner) as well as a fee-only Certified Financial Planner. So over time, I hope to be able to give back and help others in the BP community with my areas of expertise. :-)

Thank you all for what you guys do!

[Elizabeth Colegrove]

Welcome to Biggerpocket!

We are also buy and hold investors. We invest in the central valley and have been very happy. The lower taxes and insurance rates have been awesome compared to other areas we invest. The area is also appreciating and their is growth potential. While the numbers don't meet the 1%, 2% or 50% requirement, we have done very well. Especially since our houses are class A and allow us to self manage. 

Definitly check out the blogs, podcast and forums. Another great source of information is individual blogs found in peoples signatures. Many of us including myself write about our niche. The only thing we all agree about is investing in Real Estate. Beyond that there are many different style and types of investing. My blog/website is about long distance self management, landlording, investing in class A investments, investing in a transient lifestyle, etc.

Look forward to seeing you around!