Hello,
I just recently found bigger pockets in a round about way while I was listening to a book written by Brian H Murray. I have spent the last couple weeks listening to as many podcast episodes as possible. While I am still learning and researching as much as I can, it doesn't take an investment genius to know that the real estate market in many parts of California is absurd... In some of the podcasts I have listened to I hear investors talking about how they managed to get their first investment property for 50k or 60k with 20% down, even 90k with 25% down. Mind you, if I resided in a market such as this I am fairly confident that jumping in with 15k to 25k would be a non issue, however, in the market I am in (roughly an hour north of San Fran in Sonoma County) the price of real estate is astronomically high. For instance, if you could find a Class C, single family, 2 bed 1 bath, under 1,000 SF, built in the 1950's for under 275k....you would consider it a deal. The median home price for my area is over 500k. Now, I am by no means insinuating that there are not deals to be had in this area, but as a 25 year old whose net worth isn't even 100k, I am looking for any advice on a good starting point. I would love to hear from Investors in the bay area who were able to get in the game and hear how they made it happen.
Any advice is greatly appreciated!
