All Forum Posts by: Jay Y.

Congrats @J. Martin you are rocking it in the Bay Area when people said it couldn't be done! Kudos on all your success and hard work!

I'm 30, so yay, looks like I just made the cutoff for this thread ;)

I started investing at 27, picking up my first property while the economy was just starting to ramp up again. It didn't take me long after that purchase to realize what a good time it was to buy, so I started to pick up the pace of purchases in 2013 and 2014.

I'm at 8 properties and 10 units total now, with a blend of both local and out of state. At this stage of the game, I'm content with what I've got and not really actively looking to buy more. Just trying to stabilize units now.

Getting started was the hard part, but it definitely gets a lot easier over time!

I used to think that I only cared for cash flow, but the recent run up in property values has changed my view a bit. Drip cash flow is definitely nice, but appreciation is really what opened the door and made everything possible for me.

Buying the right property in the best location is the only "shortcut" I know of to get you to where you really want to go.

@Francesca S. I can't say that I know anything about the LA market, but I do know that location matters, and if this one is located in one of the nicer neighborhoods (in an appreciating market), it may be worth pursuing.

Paper numbers don't mean everything; REAL gains are what ultimately matter. I've purchased $500k properties in Santa Clara that "only" rent for $3,000/month. On the surface, those numbers would fail every rule on BP. But I get first rate tenants that pay on time every month and don't give me headaches. In hindsight, those were the best deals I ever made. You won't hear me complaining about appreciation either, because that's what gives me the ammo to cash out refi and pursue more deals. Yes, that can be risky, but to mitigate risks, invest in the BEST locations. So, again, we're back to the importance of location all over again...

I've also invested in cheaper properties and those almost always involve more headaches. Recently, one of my out of state tenants drove her car through the garage. She claims the garage door "fell on top of her car". Go figure... With out of state, you'll most certainly also need a PM to handle things as well. Those costs/premiums do add up...

Good luck and all the best!

@Johnson H.Oh, that's good news then, guess I lost track of it and thought it was yesterday. Oops my bad. In that case, yup will try and make it out on the 16th! :)

Sorry guys, can't make it tonight, something came up... Another deal? LOL

Will have to catch ya'll next time around.

Have fun!!!

@Account ClosedYeah, as my partners and employer keep telling me, it's always my fault... What did I do this time? I don't recall suggesting a Thursday meet up, but maybe I slipped up again, dang it!

@Elizabeth H. Yen M.D. Welcome from a fellow Bay Area investor! You've come to the right place. You'll find a network of some very bright and successful folks on here, many in your own backyard.

The best way to get started? Attend some local meet ups, such as the one hosted by @Johnson H. in San Jose this Thursday evening. I think Johnson's got some in SF as well, from time to time.

@J. Martin hosts in the East Bay as well, so check with him for more details.

Best of luck!

Thanks @Johnson H., I'll do my best to make it out to this event. It's been awhile!

@Ryan Zweng Yes, as @Brie Schmidt mentioned above, a lot will depend on the market you want to invest in. In Chicago, for example, you'll find 2-4 units all day long, and they're probably easier to come by than SFHs out there...

As already mentioned, cash flow tends to be (not always) stronger with multis than SFHs.

In general, with SFH you get a better exit strategy. If this is your first out-of-state investment, that's something worth thinking about. If things were to somehow go bad (hopefully not!), it will be a lot easier to offload a SFH than multi-family property. With multis, you're going to be selling it back to another investor, who is 99.9% less likely to become emotionally attached and as a result overbid for your units. With SFH, all it takes is one homebuyer to fall in love to bail you out.

@Asmani Kabutar Welcome, you've come to the right place!

There are a ton of successful Bay Area real estate investors here and a monthly meet up in San Jose hosted by @Johnson H.. You should definitely come out to the next meeting at Whispher's Cafe.

Books are great for motivation, and you can learn a few things, but nothing replaces experience... And the next closest thing to that would be to network with those who have "been there and done that". Again, you'll find all that here for FREE! :)

I invest in both Bay Area and out of state. If you would like to chat more, PM me and we can setup a time to meet for coffee or something. I'm also in high-tech working for mega corp, so I know that lifestyle all too well...