All Forum Posts by: Andrew Fingado

@Peter Mateja

Welcome to the forum.  This website is truly a great resource.  I think you will find that there are a lot of folks in the bay area doing different things with real estate. @J. Martin has done a great job of investing these last few years, and he's a great guy to know (see you at the summit J!).  I am currently investing in Stockton myself.  I think it's a great value if you know where to look.  See you around!

 I wish I could get that in Cali.  The properties I mentioned are all in the midwest (Michigan and Ohio).

@Justin Lee Nice to see you on the site.  I think you have already seen for yourself that this site is a wealth of information.  It will help you more than you can ever imagine when you decide to do your first deal.  

@Christian Vanderwall Welcome to the site and congratulations on your career.  It sounds like a great avenue to further your real estate investment goals.

@Ben Brunetti Welcome to the site, I think you will find it very informative.  I know 10X as much now as I did a year ago when I first joined.  

Maybe I will expand my mind a bit. I am also an investor myself, so if I could find something like that I would be jumping over joy over it. I admit I haven't looked at recorded docs, mostly MLS sales/talking to people. Then again i'm an out of state investor who's since given up on the bay area so i'm probably not in the know as much as serious bay area investor folks.

How would you try to find one of these hidden gems?  Driving for dollars?  Direct mail?  I'm curious now to see where this leads.  

@J. Martin 

You guys are Richmond investors l want to get your take. 75K all-in rent ready house in a safe Richmond neighborhood? Possible or not?

I definitely don't want to be the debbie downer here, as I do believe @Aaron Mazzrillo has made a lot of good points about persistence and believing in yourself.  So I conceded that there are deals to be had in competitive high priced markets.  You just have to believe and get out there and find them.

But come on, a 75K house in Richmond, in a safe neighborhood, all in ready for rent for 1200?  I live and work in this city as a broker/property manager.  I talk to investors every day around here.  I really, really doubt you could find something THAT low in a decent neighborhood.   That would be a steal in a bad area with the property needing work.

Again, i'm NOT saying there aren't good deals to be had here, but at a certain point some things are unrealistic.  Yes, we can go all philosophical here and talk about "seeing isn't believing, believing is seeing" etc but like they say, the proof is in the pudding.  

So yeah, i'll believe it when I see it.

Good points, but I would still be shocked if it was a safe neighborhood.  75K all in just seems way too low.  I would love for you to prove me wrong. 

Would I do it?  Depends on the area.

A 75K house all-in that rents for 1200 sounds like a pipe dream to be honest.  If a property like that exists in Richmond, it's also going to be in the absolute worst possible neighborhood.  I wouldn't even touch it just from a management standpoint.  That being said, if you think you can find it, and have the stomach for the management issues, go for it.  You would definitely have to drive for dollars/be super creative to find anything even remotely close to that in my opinion.  

If you do find it, i'd love to hear the background story.