Aspiring Investor from SF Bay Area, looking to relocate.

[Jared V.]

Hi folks,

I've been a BiggerPockets member for the past year or so as I have been doing a lot of research on REI. As I continue to learn more I figured it is time that I introduced myself and jumped in on all the great conversations going on in the BP community.

A little about me:

I've had the pleasure of living in the SF Bay Area for my entire life. I currently work in IT for a Silicon Valley tech company. My wife and I are looking to make our first real estate purchase within the next year or two. However, we are not interested in going the typical SFH route where we are locked in a mortgage for the next 30 years and forced to work a 9-5 to pay for it. We want to exit the rat race (yes, I have read Rich Dad Poor Dad!).

REI goals:

My longer term goal is to house hack a 4-plex, expand my portfolio over time, and eventually (within 10-15 years) bring in enough cash flow to have the option to retire from my IT career early, focus on my properties, and enjoy financial freedom. Timing to purchase a 4-plex is 2019/2020.

My wife and I have a "been there, done that" mindset towards the Bay Area these days, and unfortunately we are way priced out of the market anyway, so for these reasons we want to move outside the Bay Area. That said, my secondary and shorter term goal is to find a rental property in the market we plan to move to in order to gain experience, build a team, and help us prepare for our 4-plex house-hack. I figure we will hire a property manager and run this first property from the Bay Area, until we are ready to move. I am still trying to figure out if a duplex, or multiunit condo/townhouse may be the best option for us to get started. I have heard a lot of negatives about SFR as an investment, so I want to steer clear of that. Timing to make this happen is 2018.

Current Progress:

One key factor I am currently determining as part of my short term goal is where to "set up shop". Our list of potential destinations is below. Bear in mind, we are not only trying to find a good real estate market to invest in, but we also need to take into account whether or not we want to live, work, and potentially raise a family there.

Potential Markets:

1. Denver
2. Colorado Springs
3. Portland
4. Sacramento
5. Phoenix
6. Las Vegas
7. San Antonio

Any advice on any of these locations is very much welcome. Soon we will be taking short trips to many of these cities to get the lay of the land, and I will be looking for local real estate investors who wouldn't mind a free lunch to network and discuss the local market and their experience living and investing there.

Looking forward to networking and contributing to the BP Community!

Best,

Jared Vergati