Newbie from San Francisco CA

[Tony Xu]

Hi everyone! 

I am fairly new to real estate investing and mostly here to learn and network! I'm currently in my late 20s and work as a senior software engineer at a big tech company in SF. I was fortunate enough to start off with a 6 figure salary, so I have no debts, and am already investing in things like index funds, 401k, my company's stock plan, etc. I am looking to branch in to real estate investing next and looking forward to networking with the people here!

My main goal is to build up my personal net worth and gain cash flow. Since the SF markets is not really currently in my price range, I am looking to make partners in other regions, either the midwest or Texas area, maybe starting with a turnkey service and eventually moving in to having my own teams as I get more familiar with everything. 

Ideally I am looking at single or multi unit rental properties that can be cash flow positive around the ~100k range, so ~25k down. That way, I can get multiple properties and spread out my risk.

I am definitely looking for people from all regions and skill levels to network and learn from. Even though I probably don't have a lot I can help with on the REI front, I might be able to offer help in other areas such as new technologies, etc.

Looking forward to meeting everyone!

[J. Martin]

@Tony Xu,

Welcome, from the Bay Area crew! 

You'll be in familiar company with other real estate investors in the Bay, as many are also tech folks investing in real estate. 

I'm a few years older than you, and quit my 9-5 job last year. Although I'm sure don't make as much as you! hehe I bought some properties in Oakland and Richmond during the GFC, and own a furnished rental business. I'm sure you'll get a lot of turnkey folks jumping on here offering their services. Just be sure to do your research on the operator and the area. 

I'm sure you'll also see the endless debate from coastal area folks about about buying local for long-term equity, versus going for cash flow out of state. I don't own out of state, but some Bay Area folks are doing it successfully. 

I definitely recommend going to local meetups to meet other BP members and investors in the area. @Ryder Meehan has an out-of-state investing meetup in SF each month. Good place to connect with other investors like yourself. There are also meetups in the > Community > Networking Events section of BP. (and look on Meetup). 

I'm in Seattle for the summer, but will be back in a few weeks to get ready for the Summit in Oakland. Then I'll be heading out to India, Thailand, Japan, Vietnam, and maybe South Korea. I love Korean BBQ, so figure I should go straight to the source ;)

Looking forward to meeting you in person when I get back Tony.