New House Hacker in Bay Area

[Anthony Chao]

Hey Everyone,

I'm Anthony - I graduated from UC San Diego in 2013, work full time in tech in the Bay Area, and just closed on my first property, a 3/2.5 townhouse in Union City, California in December 2019.

I’m obsessed with real estate investing as a means to achieve financial independence and am focused on building wealth over the long term. In my research and reading, I found BiggerPockets. The BP podcast, calculators, and forums are my favorite resources so far. The stories and deals people have shared are a huge motivation, and I plan to share my experiences as well to give back to this great community.

My two goals this year are:

1. Finish placing two roommates by 3/1/20 to start house hacking
2. Execute a successful BRRRR or Flip deal by 12/1/20

For (2), I'm looking to buy a MFH or SFR property in a B- to B+ neighborhood, in the path of progress. I'm doing daily deal analysis for properties in Tacoma, Dallas, and Tampa. My ideal purchase price is $100k to $200k with 20-30% down. I have the funds for the 20-30% today, but I don't have the experience handling a rehab, working with property managers, or doing a cash out refinance. I'm working through David Greene's Long Distance Real Estate Investing as a start.

The most recent analyses I’ve done here (Flip: https://www.biggerpockets.com/house_flipping_results/190041.pdf?ts=1579313853 & BRRRR: https://www.biggerpockets.com/brrrr-calc/1408810.pdf?c=1579313818) are for a SFR in Tacoma. Looks like a flip is a better option here.

1. What are you thoughts on the analysis?
2. If you were in my position before, what advice do you have regarding executing your first BRRRR / Flip successfully?
3. If you could go back in time, what would you tell your past self before doing your first BRRRR / Flip?

Thanks for your time and I look forward to chatting with all of you. Please feel free to throw some time on my calendar or DM me. Cheers! https://calendly.com/achao/