New member in San Francisco Area (east bay) but interested in Sacramento

[Debra R.]

Hi All!  I'm very happy to have found BP.  Really looking forward to learning from others experiences.  

I have a 4 unit building in Alameda with great tenants.  I want to add in a few more buildings but can't afford the SF Bay area right now.  Sacramento is not too far away and the prices are much better.  I'd love to talk to others that own properties in either area (East Bay or Sac).  

I'd really like to talk to members who are knowledgeable about getting loans for borrowers with unusual situations.  More specifically little income but lots of assets.  

I'd be happy to help with questions about what buying in this area is like right now.  Rents are crazy high.  I have a tenant moving out this month and will be able to get between $300 to $500 more per month.  Because the rents are so high, the cost of multi family properties has also risen a lot.  

Can't wait to jump in and learn as much as possible!

Debra

[Account Closed]

Debra,

Welcome to Biggerpockets.  By owning a 4-plex in the Bay Area, you're way ahead of a lot of people.  Whether or not you can afford the Bay Area is subjective IMO.  Of course, people normally say I look at life through a colored glass.  :>)

As you have realized, tenant turnover is not a bad thing in the Bay Area.  In fact, it's a great thing.  Again, I'm looking through a colored glass.  :>)

If you're interested in connecting with other local investors in East Bay, J Martin is a great resource.  He hosts a meet-up in Oakland or SF once a month.  For some reason, I can't tag you J.  Weird. 

@Johnson H.is hosting a monthly meet-up in North San Jose tomorrow at Whisper Cafe & Creprie, and he lives in SF.  Talk about dedication.  If you happen to be around, feel free to join us.  It's free to attend. 

Both Johnson and J are very knowledgeable about financing.  They can show you where to go and get loans with your unique "little income but lots of assets" situation.  Don't forget to give me a referral fee after you got a loan.  Either a cup of Peet's coffee or Nachos at Whispers will do.  

Cheers to owning more properties in your near future.