Aspiring investor in SF Bay Area

[Federico Morales]

Hello guys, 

My family owns 5 properties in San Jose, CA. Three of these are half acre plots all side by side, comprising a relatively large plot. I'd like to figure out how we might develop these. 

In the mean time, two of those half acre plots currently have two SFRs each. They are in pretty rough shape and my dad is a terrible manager. I'm looking to put some money into them and start actively managing them myself until it's the right time to develop. 

Finally, my own house (soon to be gifted by my folks) is in a pretty choice location in San Jose and I may move out of it to take a posting internationally. My plan is to bring this house up to date and rent it out. 

As far as my earnings, I'm starting my career right now. My first year on the job my salary is $72,500. My wife makes about $42,000 working about 3/4 time and we are having a baby in February, so her schedule will likely continue. So, together, we do alright for the Bay Area. She's on board with the investing philosophy! 

Thanks in advance  for your advice! 

[Account Closed]

Federico,

Welcome to BiggerPockets. It's a great free online real estate resource. You and your siblings are head and should above a lot of folks because of what your parents wisely did back in the days. You should recognize their sacrifices and accomplishments to get to this point so that you guys can be better off. Don't buy into people's BS and get rich quick scheme and squander away the family fortune. It's very hard to build, but very easy to lose. 

@David C. hosts a monthly meet-up at Harry Hobfrau in West San Jose. It costs $10 to attend and very informative. You should consider attending to rub elbow with the local investors. Feel free to reach out to any of us if you ever need a sounding board.

Best of luck.