All Forum Posts by: Mike Huerta

@Jason Hirko any chance you can share a couple cross streets so I can see these locations on a map? Looks like Sevan and I are in similar situations.

@Hans Schmitt Could you offer a few suggestions? I found this area by filtering for neighborhood on Roofstock.

Hi, I'm looking for my first SFR property with a target price under $200k and since I live in Northern CA (Bay Area) that's pretty much impossible. Enter San Antonio. Seems like you can easily find properties that should carry a gross yield of around 1% of the purchase price. Example Here. But what I noticed (not with this property but for several others in the Far West Side area of SA), is the price history and days on market. I'm finding a lot of homes that have been on the market for several weeks to several months. Do any local experts have insight to the current market conditions in SA? What about the Far West Side area? I know my neighborhood like the back of my hand, but prices are just too high to to buy a rental. Thanks!

-Mike

Thank you, Matt. I appreciate it. 

If anyone reading this has a favorite thread on these two topics, I'd love to get a link. I enjoy reading on this. I'm searching my way around the forum, but there is an overwhelming amount of info to sift through. 

Thanks again,

Like many others I'm new and trying to take in as much info as I can. I'm running my way through the BP podcasts (they are fantastic). One thing that seems is consistently ignored when evaluating a property for buy and hold is the equity. Example, you buy a property with a 0% cap rate. Sure there's no cashflow on a monthly basis, but at the end of year end, assuming appreciation is 0%, you've gained whatever the principle was for 12 months. Running some rough numbers, that can easily result in a 5-7% net return in equity on your investment. Yet, it seems people consider a 0% cap rate a bad deal.

Second question, which is related but sort of not, I'm through the first 15 or so episodes of the pod cast which sounds like it started in 2011/2012, and several of the guests reference getting into the game right after 2008 because the market was way undervalued. That's great for them to have that foresight. Now here we are in 2019. How are people, specifically buy-and-holders, feeling about this market? Are we going liquid in anticipation of another correction? Are folks still bull on housing? This is probably the big unknown keeping me from leaping into the market.

FWIW, i'm in Northern California, specifically the East Bay, and looking at the Concord/Martinez/Pleasant Hill markets as well as in the Tracy/Manteca/Lodi/Stockton area, but I live/own in Livermore.

-Mike