All Forum Posts by: Albert Zheng

I'll definitely be there. I had a great first experience last month as a new investor to the Bay Area and plan on attending as much as I can. Thank you @Johnson H. for hosting.

I'm definitely going to read this after I heard your podcast! I'm looking forward to it.

@Nick ZocherI'm looking forward to seeing your data! As a new investor who recently moved to this area, I'm fascinated to see where investor friendly deals are occurring.

I converted my former primary residence to a rental due to employment relocation for about two years now. I'm now considering taking a LOC on the rental in order to move onto a second investment property. This thread was really helpful in identifying some of the obstacles that I may run into doing so regarding lenders.

I'm hoping to house hack through buying a duplex or multifamily property with the LOC and other capital saved up. My problem right now is I'm currently living in one of the most expensive areas so it's very difficult to find a local property which would meet the criteria of an all cash purchase where I could then refi in order to pay off the LOC and still keep my rental.

I'm hoping for a slow down in the market eventually while I build up more equity and I'll ready to pull the trigger for the all cash purchase. My other option is I may have to either consider selling the rental or look for out of area deals. Thank you @Steve Cook for creating this thread for a while back.

Thank you all for the feedback. I will definitely go through all the material that @Chad U. recommended. The additional pre-auction research and thought process is great advice, @Steve Babiak. I will definitely attempt it for my first auction attendance so I will have a much better understanding of how my hypothetical bids would have done.

Hi everyone. I'm a newbie regarding how auctions truly operate. I plan on attending one just to observe and see how the process unfolds. I was wondering if anyone could provide some tips and advice on how to purchase a property at an auction. FYI, I'm currently in California right now in the Bay Area.

All these questions have come to my mind:

What type of research should the buyer do when evaluating an auction property?

If you can't enter or inspect the home, what are other available information can you utilize to make a proper decision whether to make the purchase?

If you don't have the all cash on hand to purchase, what strategies do people use to find lenders for these type of purchases? 

If you're able to finance your bid and win, how does the deed get transferred to you and what are the next steps in finalizing the ownership of the property? 

Feel free to educate me if I'm not asking the appropriate questions.

Hi @Ashley W.. Welcome to BP! I have a very similar experience in having to turn my first condo purchase into a rental property due to employment. I'm a recent transplant to the Bay Area as well looking to purchase my 2nd rental property and figuring out this expensive market. I look forward to seeing you on BP and good luck on your investment journey.

Haha Your inference would be right in most cases @Chris Mason!

Hi BP! I'm a fairly new investor who just recently moved to the Bay Area currently residing in Mountain View, CA. I made my first purchase of real estate in 2013 shortly after college in Seattle, WA. Long story short, I turned the condo from a primary residence to a rental property and quickly started to realize the power of real estate towards attaining true long term wealth. I stumbled upon the BP podcast and have been addicted to it ever since. I appreciate the pragmatic and realistic perspective Josh and Brandon give to inexperienced investors such as myself. My ultimate goal is gain passive income through rental properties that are long term buy and holds. I look forward to learning as much as can through the BP resources and hopefully networking with other BP members.