All Forum Posts by: Gary F.

Hi, Guys

I'm new too and in San Jose. Hello to us NorCal folks. 

I've always passed up mobile homes as investments but this thread opens my eyes a bit. Here in Silicon Valley, everything is so inflated. Even Mobile homes go for $200. When I see $20k?  Dang, my car cost more!

@K.Marie Poe

Aloha Bigger Pockets Colleagues. 

My name is Gary. I'm just starting out in this wonderful world of REI. I just took out a HELOC and would like to start. I've zero experience in this and would like to hear from anyone willing to share some wisdom.

I'm in the Bay Area of CA, which many of you know, is extremely expensive for RE with many wealthy dot.commers. being that its Silicon Valley.  That's great, only I'm definitely not a Mark Zuckerberg or Bill Gates and make only 1/10000000th of their salary. 

I was looking into buy and hold for rental, flipping (though the rehab process may stress me out too much), or crowdfunding (though I'm not an accredited financial investor, which is required for those online sites), or other options. 

I was looking into the Central Valley of CA, possibly near a university for student tenants. Or section 8 tenants (pros/cons?). 

Can anyone share some wisdom?  Mahalo.

Gary

I love reading these inspirational stories. For me as a newbie, REI seems like a surreal dream that I can't reach. But when I see these stories, it becomes real. Thanks for sharing

All these suggestions are great.

Was your agent thinking of removing the listing for a certain time period, then resisting? For me, removing the listing then relisting only costs more money (time=$$). And the longer it sits, the more potential buyers start to wonder, "Whats up with that?!" At least thats what I would think. AND I'd be losing more money as I'd still have to make those mortgage payments. I don't see the strategy in his thinking. It does not remove the total DOM from the MLS, only increase it. The more DOM, the more it becomes in the buyers favor.

Another thought? Would it be favorable to offer owner financing? Or rent to own or other creative financing offers? Unless of course you need the capitol.

Any updates? 

Agreed. 3/1 is a strange set up for most. Too late now but maybe that rehab money would have been better spent on adding that extra bathroom vs. aesthetics.

So, what happened?