All Forum Posts by: Brandon Elliott-Pandey

@Brandon Elliott-Pandey So far after running all the numbers as is and with a property manager at 10% I would profit $270/month

I'm not a Realtor but I follow my local market and attend meet ups. Santa Clara prices are up about 6% and San Jose 11% (near Silicon Valley) and San Mateo County up 4.8%. There are tech layoffs. I'm uncertain how this will affect home sales - if people overextended themselves on a mortgage and lose their $400k to $500k salary, they may need to sell. I continue to be shocked by home prices for a 3 bedroom/2 bath and multiple offers, $3.2 million for 2000 sq ft home as one example. These areas have surpassed home sales in San Francisco because people like suburbs. Median days on market 21 days Santa Clara. 

East of San Francisco, the more affordable counties Alameda and Contra Costa homes prices are down 0.7%. $700,000 to $1,700,000. There are some $1.9 to $2.5 million homes in this area. Offers within 1 to 2 weeks for a nicely renovated home under $1 million. 

Condos aren't doing well, values are still lower than 2018 to 2022. Could find deals and negotiate with the seller. 

San Francisco is starting to make a come back after COVID, people are returning to the city, partially because of being called back to the office. There are also lots of people who love city life. Interestingly I've seen multi-family selling for $2 million range, so about the same as a nice single family. 

I've seen a few homes were the agent didn't market it well (terrible photos, wrong information, seller leaving their messy personal belongings) where homes sat. Flipping has a good profit margin -most often done by experienced investors with lots of capital. 

Not many investors buying for long term rentals unless it's someone wealthy wanting to park their money somewhere. Lots of mid-term rentals and AirBnb, people building ADUs to get additional rental income and house hacking.

I'm in the L.A. area and I'd say it's mixed. Some properties are selling in 1-2 weeks, and some are taking months to sell. I think some people are buying now because they fear prices will continue to rise over the next 12-months. I think they are correct.

I will be speaking to a local one tomorrow morning and then go from there. 

Hey Brandon! As a young inspiring investor myself, I would love to learn about this strategy. I have yet to hear about it and maybe it would be some good knowledge that I could put to use. Does it matter what state to be in for it to be of value to use? 

thanks for the informational post! I am looking forward to hearing from you! 

Brandon,

Great program I try and promote it daily and if more younger people knew about this in advance it would help shape more real estate investors.  Not only that but it helps more people avoid high rents and offer more opportunities down the road to pull cash out of the home once it appreciates.

Typically you have to own without selling or refinancing in certain sates for 2-3 years and some states or programs 1year.  Again its different in each state and for which program you choose but there are over a dozen of these programs.  You can also roll your closing costs into the DPA and the rates are monitored to generally be less than market rates to help more local development.

I have teamed up with many of my realtors for this 2025 year because there are some great New programs with additional benefits for first time buyers.  Getting the word out is the part where it takes a strong team and Bigger pockets is doing a great job so far!