Looking to get started in Oakland ca

[Leno Bellomo]

Hi everyone, I'm looking to purchase amulti family property in Oakland California. I have a decent amount of capital but I'm worried to buy a property(duplex or 4plex) with the market so high. Any advice from Oakland area investors would be much appreciated. Thank you!

[Chris Mason]

Welcome, @Leno Bellomo.

MFRs in our area are interesting. We got an accepted offer for a duplex in Point Richmond this morning. Buyer was ready to offer $810k, but comps only supported $740k... so the seller's accepted our $740k offer over other higher offers because it was well supported by the buyer's agent and they (apparently) felt that everyone else was throwing spaghetti at the wall.

Very unique, and I don't think it's part of a wider pattern (so far), but an anecdote for you.

Incidentally our Bay Area crew on BP is quite active and helpful, don't hesitate to reach out to anyone.