All Forum Posts by: Cliff J

I had no clue that it was that bad. I really need to learn how to do the proper research. However, my research was truly looking at it as a market indicator oppose to a possible purchase.

Where did you get all that info from?

-Clifford

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Originally posted by Romica P.:

Welcome Cliff!

I'm also originally from the Bay Area. I invest out of state though!

Hey Romica,

Investing out of state kind of scares me. Do you fly out to see the property or do you have a partner check it out for you.

-Do you hire property management? When there are issues you cannot be there within hours?

-I actually have a friend that lives in Scottsdale, AZ where SFH are around 150K which i was thinking may be somethingm to check out. Possibly start a partnership or hire him as a Property Manager...

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Just got to say Trey, Its nice to see a fellow young adult going after real estate! Keep asking great questions,

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Hey All,

I was wondering what your thoughts on Condos? I looked through the forums and it seems to be a bit mixed.

I recently saw a condo 3br and 2ba for 240K in Milpitas CA. Its gone now but it is just shows how expensive options nearby are.

Where do you search for MLS listings?

-Clifford

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Originally posted by Jay Dao:

In general, I would only spend more on a better location if the numbers still made sense. For example, I'll take a 10% return in a great area over say 15% in an average location. There are some benefits like lower vacancy rates, easier to rent out, etc. I have one property in the hub of Silicon Valley and could probably rent it out in no more than a day using Craigslist if it ever went vacant...

Good luck!

Jay Dao Great Info!

Originally posted by Minh L.:

The numbers no longer make sense to buy unless you can buy them for $100k to $200k below FMV.

Minh L.: wish i could find this... currently I would say im below average...

Originally posted by Ned Carey:

There was a long thread about this. Like my previous answer - it depends. What are your goals? What are your resources? Based on your first question, my guess is you should do the deals you CAN DO. After you start to build your business you can start upgrading your portfolio with deals that better fit your long term goals.

@Ned Carey, I guess i have some more planning to do ;]

@Brandon Thanks for the great info.

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Hello Bigger Pockets Members,

Some of my concerns have been ironed out by reading through this forum but i thought it was time I introduced my self. My name is Clifford and I am 24 years old with zero background in real estate. I currently work in IT and now have a some money to invest with.

My current goals are to simply real life monopoly. I like the concept of renting out places and having a "steady" income/profit. Thus i have set my goal to buy a place then rent it, rinse and repeat.

My main concerns are
[1]How to invest in RE when you cant afford anything nearby (SF BayArea)
[2]How much should you start with for a down payment 20% or 3.5%? (REI Goals)
[3]Where do you find a Real estate agent? - i feel like a horse in a race with blinders without a finish line since I subconsciously block out most adds.
[4]Choosing a location/ budget: Should you spend more on a better location so you hopefully have better tenants? - I will just wait longer so i have the right amount for the Down Payment.

thanks,
Clifford

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All Forum Posts by: Cliff J

Cliff J has started 1 posts and replied 6 times.

Post: 24 y/o Newbie from San Jose, California

Post: 24 y/o Newbie from San Jose, California

Post: Looking to buy first Property

Post: 24 y/o Newbie from San Jose, California

Post: 24 y/o Newbie from San Jose, California

Post: 24 y/o Newbie from San Jose, California