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Updated over 7 years ago on . Most recent reply

User Stats

52
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42
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Scott Hibbert
  • Denver, CO
42
Votes |
52
Posts

Moving to Oakland/Bay Area in 2 weeks from Boulder, CO. Advice?

Scott Hibbert
  • Denver, CO
Posted

I have accepted a job offer and will be relocating from Boulder, CO to Oakland /Bay Area.  I am hoping to find an inexpensive room to rent in a safe neighborhood (I'm used to the Boulder Bubble) but within 10 miles of the Oakland airport ( I'll be commuting by bike most days to the office on Bay Farm Island).  

Any and all advice about moving to the Bay Area is welcome!

Some more details:

- I'm a 34 year old, single male, recently divorced and would like to be near an area where people go out.  I've heard Lake Merritt/Temescal would be good.

- I'll be renting out my house in Boulder, CO as my first experience in REI. I will be cash flow positive above my $2250/month mortgage/ins/taxes.

- My goal is to follow Scott Trench's ideas in Set for Life and hopefully rent a room for under $1200/month to save some extra cash and use it along with my current savings to buy and house hack a duplex/triplex/fourplex in 4-12 months in the Oakland/Emeryville area.

- I consider myself very handy since I have renovated my entire house 99% by myself and pulled permits.  I am comfortable with fixer uppers in good neighborhoods.

Does anyone own rental properties that is looking for someone to move in between September 15-Oct 1st?

Is anyone selling a duplex/triplex/fourplex in Oakland?

Any advice about finding a place to rent?  From what I can find from my research, it looks like I need to get out there in person and explore some neighborhoods to find out where I want to live and then be ready to pounce with first/last/security the day it hits Craigslist.  Is this true?

I'd love to start networking with other Oakland based investors/RE agents.

Any reasons not to buy a multi-family in Oakland these days with all of the rent control issues?

Ideal scenario in my head is to buy a multi-unit, live in one, update it, rent it for more, move in to the next unit, update it, rent it for more.  I assume I can easily NOT renew a lease if I am moving into the unit as owner occupied and the tenants shouldn't be able to fight it.

Thanks for all advice and anyone who would like to connect online or in person for a drink and to talk REI.

Scott

Most Popular Reply

User Stats

404
Posts
226
Votes
Jared Bouzek
  • Lender
  • Denver, CO
226
Votes |
404
Posts
Jared Bouzek
  • Lender
  • Denver, CO
Replied

@Scott Hibbert Make sure you connect with @Chris Mason if you haven't already. He is located in Oakland and could help you with a lot of your questions about that market.

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