All Forum Posts by: Dax Nollenberger

The thought process is absolutely sound. However, there are some major economic factors at play. We have a serious supply and demand issue in Santa Cruz County (and the entire Bay Area). The combination of low-interest rates, new work-from-home norms, and massive cumulative wealth is greatly affecting demand. Combine that with the lack of supply due partly to the cost of construction and the limited land for new builds. Now, once supply chain issues are solved and interest rates begin to rise in Q2, we will likely see some leveling off but a "correction" or "bubble" is not likely imminent. Your right, the wages aren't keeping up with inflation but the prices that we are seeing reflect the income of the people buying them. The vast majority of Santa Cruz buyers are not from Santa Cruz. Money from silicon valley is rushing into Santa Cruz County. Compared to 2011, we are actually seeing a lower percentage of California homeowners spending 35% or more of their income on homes (by about 10%). All this to say, these buyers can afford to overpay for homes. 

Let's make it happen! Where to even begin?

Hi Santa Cruz Bigger Pockets family. A conversation about Santa Cruz Real Estate is infrequent on here! I'd like to change that. Maybe we restart a (virtual) meetup. The numbers don't always make sense here but there are creative solutions like house hacking and with SB 9, future multi-families. I'd also like to get around Santa Cruz residents that are investing out of state. Looking forward to hearing from all of you!

Hello Santa Cruz friends. Look forward to the ending of this pandemic so that we can meet up and share thoughts/ideas. I originally became interested in real estate for passive income. Since then, I have immersed myself in RE information and will be getting my RE license and starting with Sereno group in Jan. Owning investment properties is absolutely a goal. Hope to speak with you all soon. 

I'm interested in a meet up if you decide to do one again!

Thank you all for the response. I'm just anxious to jump in and really learn as I go but realize that there are steps that I must take first. I'm using every avenue available to build the capital. I've minimized my expenses to the bare bones and am doing as many sides hustles as my time allows. Now all I need is some patience. 

Hey Bigger Pockets, 

I am in a real pickle. I really want to get invested in real estate here in Cleveland and feel the best way to learn is to jump in an do it. I received approval for an FHA loan that would allow me to only put 3.5% down. Issue is, I want at least a 4 unit because the loan requires I live in one for a year. 4 Units would allow me to still cash flow while living there. At 3-4 units, my loan requires I put 25% down which I can't afford without raising capital. 1-2 units doesn't appeal because of all the expenses (high property tax, PMI, etc). Any suggestions on how to raise the capital to afford the down payment (and potential repairs) or different loan options that would allow me to put a low down payment on more than a 2 unit property?

Thanks for your time!