New Investor from the Central California Coast

[Rajheim Hunt]

Hello Bigger Pockets Community!

I’m originally from Northern California, but currently live and work in Monterey.   

I’ve always been interested in investing in real estate, but never really took any steps towards it.  I just got back from a two month trip through South America, and essentially got a taste of what financial freedom could feel like.  

I don’t have much free time, but have the salary, capital, and no serious personal obligations, to start putting some serious effort and money into real estate.  I’ve been binge listening to the Bigger Pockets podcast, and doing as much research as I can.  

Buying locally isn’t really an option for investing.  I’m currently trying to decide on a location on where I should start, since I’ll be an out of town investor.  I’m also trying to decide if I want to start with a few single families, or a multi unit.  I also have a long term friend looking to split a down payment on a larger multi unit property.  

Any tips for the decision making process? My current plan is to just buy the first good deal I find, that makes sense financially.  

[Sam Shueh]

Many Californians flock to mid-west for income. There is very little appreciation out there.

A client from San Jose did a 1031 exchange from SJC. She went to Texas got an entry level SFH, Tennesee

and Nebraska SFH, and MF. Bragged she got 3 for the price of one from SFBA. The property managers were not due diligent. Long story to short she is losing one MF, and others not paying her leveraged mortgage. She is kicking herself not to stay close to population and high rental urban like SFBA.

My advice is may be in more affordable California cities.  Fresno may be an option since it is just a couple hours away to look after one's investment.

Sam Shueh

Campbell, CA