All Forum Posts by: Nic S.

Does anyone have experience using Roofstock to source SFRs? Any general thoughts on the site itself?

@Larry Fried great advice. Would you mind expanding a bit on why it's so challenging for an OOS investor?

Are you bullish on the Bay Area market appreciating over the next 5-10 years? San Mateo has seen 12% appreciation this year, which in my eyes in isn't sustainable. But I'm curious as to what you think about the future state of the market.

For context, my finance and I are trying to purchase our primary residence in San Mateo/SF area. My investments will have to be out-of-state because the economics don't make sense here.

Thank you for your time! 

Hey @Jared Van Horn I would second @Jordan Moorhead post. Use the BP calculator to find what your cash flow would after property taxes, vacancy %, insurance etc....  figure out how to put the least amount of money in so you can use the rest on other properties. 

This might help: https://www.biggerpockets.com/renewsblog/next-leve...

@Jon Passow

@Cody Evans I have not attended a Meetup yet but I'm open to doing so, and I'm open to Solano county if you want to add me to your list. Thanks! 

@Dmitry Fomichencko Thank you! Super helpful.

Good Morning! 

Wanted to quickly introduce myself. My name is Nic, I stumbled across BP about three months ago and It's absolutely changed the way I think about RE and my future in it. 

Born and raised in SF Bay Area, soon to be married, no children (yet) and looking for 1)My first MFR investment (most likely out-of-state) and 2) My SFR (to live in). I think I'm crazy tacking both projects in tandem but we'll see how it works out! Thanks in advance for your time answering my dumb questions!

Cheers,

Nic 

Hello Everyone!

My name is Nic and I am brand new to BP and RE investing. I was born and raised in the SF Bay Area. I am at a crossroads in my life and I'm hoping to get your thoughts. 

Situation - My (soon to be) wife and I are first time home buyers. For the past 6+ months we've been tirelessly touring SFR's trying to buy our first home. The entry price in the SF Bay Area (Redwood City > SF) for those familiar with the area is $1M-1.2M (I looked at a 1k sq ft 3/2 in San Mateo today for $1.1M and it needs about $100k of remolding). I discovered BP about two months ago and it's changed my perspective on RE and RE investing.

Buying a SFR and being tied to a $4500-5K mortgage payment seems absurd. Buying in the Bay Area is an appreciation play. If we were to buy in the Bay Area, there would not be much free capital to start investing in duplex/3plex/4plex's. I have two partners that want to start investing out-of-state in MFR's for cash flow.

Should I continue to rent and invest in MFR's or should I buy and live in a SFR? What would you consider when making a decision? Other?

Happy to answer any follow up questions. THANK YOU!