California is dry like a desert

[Christopher Gomez]

I've been approved for loans but haven't found deals over for what I can afford at the moment Southern California. I am still trying to build my network by talking to family neighbors, and co-workers by telling them what I'm looking for and what I can do. I have spoken to financial advisors and brokers but they haven't shared much insight as they don't seem interested in helping and give me "pretend deals". I keep getting this feeling no matter how much I educate myself with more books, podcasts, or anything else nor how many people I talk to that I'm just spinning my wheels. How do you stay motivated and keep going?

[David Faulkner]

Originally posted by @Derek Okahashi:

Saj Shah have you seen the 4 unit on the East side going for a million+? Each unit rents at 1275 according to loopnet. Thatnstill seems maxed out and like a bad investment. Every multi fam I see in the bay is listed this way.

Do you have any properties, multifams, or tips on finding a deal?

There is your first problem. Loopnet is where the commercial real estate agents put all of their "deals" after they can't sell them through their network. The good deals never see loopnet or the open market for that matter. If you are expecting to waltz in and be able to casually pick up a great deal off of loopnet or the mls in CA, you are sorely mistaken ... great deals must be found and/or created, and this takes hard work and skill. That is the price you pay for investing in a market with high demand and limited supply, but those same dynamics cut both ways ... that which is difficult to buy is easy to sell or rent and will tend to go up in value over time if the fundamentals that created the high demand and limited supply are consistent (which they are in CA). If it were easy, then everyone would be able to do it ... I will however say that in places like CA the work is more front loaded as described above and get easier as time goes on, which is why sooo many newbs seek the "easy way out" out of state, but in contrast, out of state the work and struggles tend to be back loaded after you buy.