well here is one for the books. Bay area is not easy!

[David J.]

Not great but here it goes! 

For a bit there I was able to make Bay Area work, I could find houses cheap enough that they would cash flow decently. 

I guess it's not possible anymore. Or at least, it's getting really difficult. 

I found a 4 bedroom SFH in the East Bay. It was in decent shape and in a C grade neighborhood.

Paid $385K  (20% down conv loan). Payment is $2,179 /mo

Did $20K of upgrades and remodels. New countertops, kitchen sink, appliances, water heater, bathrooms totally remodeled, new bedroom doors, new floors, baseboards, paint ETC ETC. 

It's looking REALLY clean, nothing overly fancy but very clean.  Got it rented $2,284 /mo 

WOOOOOOOOO $97K to make $100 bucks per month.  Winning  -_-

Pretty bummed. At least I am out there trying. I have to avoid get discouraged. I need to sell this place and try something else.

UGH

[Account Closed]

@David J. why would you rent it for so low? Where is this property located? Even in deep East Oakland, you could rent it to a Section 8 tenant for $3500/month. 

You should have a cash cow on your hands. Who rented it? You or a PM? I get $3,000/month for a 3 bedroom apartment in the HOOD, so you are doing something wrong.