All Forum Posts by: Ather Rizvi

Thanks very much @Jan or the insight and mentoring session. A mentoring session would be great! I will message you to see if we can arrange a data and time. We can include @Ben as well :-)

Hi All,

I am looking to invest in the SF market with the notion that that buying in one of the hottest markets in the country will be the least risky. A couple of methods I am looking to try is Flipping or BRRRR if possible. Also planning on focusing on the more up and coming areas as well. I am doing as much research as I can here and on other sites to build that knowledge base up. With the shear demand for housing, I am noticing that prices for homes that need repair, maintenance already have that profit margin baked into the price.

I was wondering if anyone is having any success doing Flips or BRRRR's in this areas with some level of success or is it just way too competitive to break into? I am pretty good at doing my own repairs but putting in new plumbing and electirical would require a licensed contractor and it sounds like they are hard to find these days. I'm also not sure what type of work requires a permit from city as that is a long and costly process.

Also wondering if anyone has a good handle on the future market trend for the next few years. There's talk of a recession but SF seems to have its own micro economy.

Thanks in advance for any feedback.

Ather

Hi All,

I am looking at buying a home with an In-law suite in Bay Area California where the in-law unit was made without permits. Will this be an issue getting a loan or going thru escrow? I am looking to buy and rent it out if possible. I'm guessing this would be somewhat of an issue when it comes time to sell as it may scare others away. 

Thanks,

Ather

Hi All,

Apologies in advance for reviving an old thread but this was the perfect topic for me. Please do let me know if I should start a new one. 

I'm looking at buying Foreclosures via Trustee Sale auction in Santa Clara County and was wondering what its like there in today's market. I'm guessing stiff competition for small profits. I know I'm asking potential competitors so I understand if response would be limited ;-)

Are people looking further out or are there still some deals to be had within the Bay Area?

Thanks Naveed, will look into that.

Thank you Steve and Leslie for the helpful info and guidance. As I'm nearing retirement age, my goal is to be a more active investor and have this become a "full time job" at some point. It would be great to start laying the ground work now to get to that stage as I'm not the stay at home type of person when I'm done with my current career. 

It would be great to hear from other active investors in the bay area and hear their paths to success. 

Thanks much,

Ather

Hello All,

After spinning my heels for months and looking at different roads, I am at a point where I could use a little guidance in the real estate investment world. Here is my situation:

I live and work in the bay area as an IT professional making a decent income but I rent my home as I cannot afford to own one in an area where my kids go to school. I have about $220k saved up from previous sale of a home which I can invest. Here is what I am thinking are my options:

1. Buy and sell (flip) homes for a profit. 

Challenge 1: Extreme level of competition. Many investors already doing this who have tons more cash and do this full time.

Challenge 2: Finding homes below market is next to impossible. Homes on MLS are priced at market value and sell for over market value due to the competition.

2. Buy land and build homes like many other builders

Challenge 1,2,3: Needs more capital and strong team and full time involvement to be successful.

3. Buy Foreclosed homes from trustee sale auctions.

Challenge 1: Hard to compete with investors with deeper pockets

Challenge 2: Limited time to work and research titles, properties.

4. Buy a home and rent it out

Challenge 1: Slower turnaround, at this stage of my life, I would like to build a retirement nest egg faster as I am almost at that stage.

So there you have it. It would be great to get opinions and feedback on the above options or if there is anything else I should consider.

Thanks very much and all the best.

Ather Rizvi

I’m Ather Rizvi and I currently reside in Cupertino CA. I currently work as an IT professional in the latter years of my career. I’ve worked as a Real Estate agent many years ago both in Toronto Canada and for a short time in Sacramento California but have never invested for myself.

I’ve always had a keen interest in business and have had an entrepreneurial side of me but have never been very successful due to various reasons. As I see my retirement in the future I am looking to find a solid and fairly reliable way to build a nest egg in the years I have left. One thing I’ve always heard and read is that Real Estate has built the most millionaires out of any profession and investment method. Since I don’t work for Google, Apple or Facebook, I am hoping that Real Estate the tried and true method will get me where I hope to be.

I was hoping to get into flipping houses in the bay area, but after doing some reading here and other sites, it sounds like finding a below market property is next to impossible in the bay area. The one possible method I’ve heard is to add value to properties which I interpret as renovating, adding square footage. I would also be interested in doing a tear down and rebuild as many of the other investors have done at some point in the future funds permitting.

I came across this site by searching for information on how to renovate and flip houses in the bay area. I’m fairly handy with tools and have done some small renovation projects on my own home and hope to do some work if I can to reduce costs but know that most work will have to be done professionally. I would love to learn and hear what others have done and appreciate any advice and experiences that can be shared as guidance from the wealth of good people on this forum. Thanks in advance for any guidance you can offer!

Warmest Regards,

Ather Rizvi