Good to BRRRR in California?

Question

I live in Sacramento and I am learning investor. What is the best investing idea that I can apply (like BRRRR or rental or flip) in California Sacramento?

Gordon Cuffe · Answer

@Sabin Timilsina  If you do not own a primary residence right now then your best idea is to buy a primary residence which can be 1 to 4 units. You can buy the property with the min amount down and sell after two years of owning the property and not pay capital gains taxes. If you allready own a primary residence then it is up to you on what you want to do. You can always try to buy at a discount and flip the property. If for some reason things dont go as planned then you can turn the property into a rental and sell when you have the desired amount of equity. I am in the Sacramento area so if you ever have questions about areas or how to locate discounted properties, you can PM me any time.

Scott Scoville · Answer

Hey Sabin,

Congrat's on starting your investing journey. I'm an investor in Sacramento, real estate agent, and help coach new investors. Let me know if you have time to chat. Would love to hear more about your investment goals. I'll DM you.

Erik Estrada · Answer

Do you have a college degree? If so you can use that as 2 years work history.

Gordon Cuffe · Answer

@Sabin Timilsina If you own the land ,you should know what the land is zoned. Does the land have water and sewer hooked up?  does it have electric?  Go to Sacramento county building department and ask them what they want, ask how much are permits, etc.

Alex Bekeza · Answer

@Sabin Timilsina We still see BRRRR/FLIP deals penciling in your neck of the woods.

Picking those 3 strategies is completely based on your personal goals.  There is no correct answer in the general sense.  It's all about what you're looking to accomplish. However, I'd rule out a turnkey rental if you're trying to scale a portfolio.  BRRRR or FLIP will allow you to snowball/scale more quickly.  Once I had enough experience I had mild regret over a two turnkey properties I bought.  They're not bad rentals.  I just could have done much more with that cash then park it and take a few hundred in cash flow a month.

John Chong · Answer

You might want to look into house hacking a multi family.

Sabin Timilsina · Answer

I have a house and I am planning to pay off everything this year. Behind my house I have big land I am planning to make a house as my investment property. How can I do that in rio Linda California and how can I find rules to make it done it? Or anyone has better idea I should do?

Sabin Timilsina · Answer

Thank you so much for answering. I just started to work but I can make around a 100k per year and I don't have any tax history. I have owned 0 property. Where can I start?

Lake Lutes · Answer

Hey Sabin! Your investment style/technique is going to depend on a number of different factors - cash available, risk tolerance level, goals, etc. I would advise reading into and studying all the different types of real estate investing, and that should give you some great insight into which style best fits your goals and needs. Studying these methods can come through podcasts, books, online, etc. Best of luck!

Good to BRRRR in California?

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