BRRRR Northern California Advice

[Marcus Marsall]

Hello everyone,

I am a real estate investor based in Northern California, and I'm seeking advice and mentorship on employing the BRRRR investment strategy in Northern CA. I have some experience in real estate investing, having purchased a duplex in the Bay Area as a house hack... now we have invested in a property in Sonoma that we currently occupy. Life has moved fast and I now have two kids which has lead to my wife and I looking to pivot with our original FHA/house hacking plan.

We've purchased our properties over the last 18 months with little money down. I don't see anything we can leverage with our current properties, and our remaining cash is for reserves. I'm now looking to learn how to purchase properties using hard money or seller financing, and I'm wondering what needs to be in place to make that happen. I'm also curious about which specific cities in Northern California are good for BRRRR investing, and where I should focus my research. I've heard both sides of the coin regarding BRRRR in Northern CA and really just looking to network, discuss and really just take our first couple of steps towards action. I'm looking to figure out ways to make this work close to home (wine country).

Would love to hear any insights from the community. I'm hoping this post gets decent traction. I love my state, and really want ot stay close to home. Of course, if there are others out there reading this, please feel free to interact with your thoughts and expereinces. If you have experience with BRRRR investing, especially in Northern California; any connections/references for those who can be considered for the BRRRR team; or even you yourself being interested in talking regarding these goals... Please let me know!

[Osazee Edebiri]

Quote from @Marcus Marsall:

Hello everyone,

I am a real estate investor based in Northern California, and I'm seeking advice and mentorship on employing the BRRRR investment strategy in Northern CA. I have some experience in real estate investing, having purchased a duplex in the Bay Area as a house hack... now we have invested in a property in Sonoma that we currently occupy. Life has moved fast and I now have two kids which has lead to my wife and I looking to pivot with our original FHA/house hacking plan.

We've purchased our properties over the last 18 months with little money down. I don't see anything we can leverage with our current properties, and our remaining cash is for reserves. I'm now looking to learn how to purchase properties using hard money or seller financing, and I'm wondering what needs to be in place to make that happen. I'm also curious about which specific cities in Northern California are good for BRRRR investing, and where I should focus my research. I've heard both sides of the coin regarding BRRRR in Northern CA and really just looking to network, discuss and really just take our first couple of steps towards action. I'm looking to figure out ways to make this work close to home (wine country).

Would love to hear any insights from the community. I'm hoping this post gets decent traction. I love my state, and really want ot stay close to home. Of course, if there are others out there reading this, please feel free to interact with your thoughts and expereinces. If you have experience with BRRRR investing, especially in Northern California; any connections/references for those who can be considered for the BRRRR team; or even you yourself being interested in talking regarding these goals... Please let me know!

 Hey Marcus!

Congratulations on your successful real estate investing so far and for seeking out advice and mentorship to further your BRRRR investment strategy in Northern California! It's great to hear that you're looking to stay close to home in wine country, and I can definitely offer some insights and suggestions.

Firstly, regarding purchasing properties using hard money or seller financing, it's important to have a solid understanding of the terms and conditions of these types of financing. Hard money loans typically have high interest rates and short repayment periods, so you'll want to make sure that the investment property you're looking at has enough potential for profit to make up for these costs. Seller financing can be a good option if you find a motivated seller who is willing to work with you on the terms, but it's important to make sure that the agreement is legally sound and favorable to both parties.

In terms of specific cities in Northern California for BRRRR investing, some areas that you may want to consider include Sacramento, Stockton, and Modesto. These cities have lower median home prices compared to the Bay Area, making it more feasible to find properties with good potential for value-add renovation and rental income. Of course, it's important to do your own research and due diligence on any potential investment property, regardless of location.

As for networking and finding a BRRRR team, there are a few resources that you can look into. Local real estate investor associations and meetup groups can be a great way to meet other investors and professionals in the industry. You can also consider working with a real estate agent who has experience with investment properties and can help connect you with other professionals such as contractors, property managers, and lenders.

Overall, it sounds like you're on the right track and have a solid foundation to build on. Best of luck with your BRRRR investing journey!