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Updated almost 8 years ago,
Duplexes in SF - Making First Investment in 30-60 Days, Help! :)
Howdy there SF BPers!
I'm new to the forum, and am looking to make my first investment purchase in the next 30-60 days here in SF.
I'm hoping to find a few 'pay their own luck forward' type folks on here that might be willing to pass me some deals/guidance as I look to make a smart move with my first investment.
I currently rent in the Castro, and am looking to ditch my $3k/mo apartment in favor of my first investment property.
Here's what I'm thinking:
Find a duplex right around the $1M price tag, where one unit rents for around $3,500, and the other unit could presumably rent for something similar, or slightly less. I'd live in this second unit for a while. Not at all afraid of remodeling, so long as it's not a 'get in over your head' type project.
I'm able to put anywhere between 25-40% down. Hoping to find the deal and pull the trigger in the next 30-60 days. Getting financing sorted out next week.
Here's the best example I've found thus far, however I know there's a bunch out there that as a first timer, I simply don't have visibility/access to. That's where I'm hoping some of you could help. I've been fortunate enough to get lucky with my tech career, and now I get to give my time back, and coach those who are just getting started. It has been really rewarding, however as a newbie to real estate, I'm now looking for my coach. Someone to point me in the direction of the right first property. Happy to talk about fair comp, but primarily writing this with the hopes of finding someone to learn from so I can make my first deal a positive one.
Looking forward to meeting many of you in the years that follow.
Eli