All Forum Posts by: Tommy Hoang

Hey @Tyler D., fellow SF resident and multifamily investor here. Listing a few things for you and your friends/roommates to consider.

• - You guys will want to buy a completely vacant triplex since you can only do an owner-eviction on one unit if others are occupied. Even then, owner-evictions are are pause right now.
• - If you do an owner move in, keep in mind that tenant has the right to re-rent that unit if one of you ever moves out.

• - Consider multiple exit strategies as things may change for you and your partners. TIC is one. TIC to condo conversion is another. You have the right idea to hammer out these details early.

• - Multifamily properties can be capital intensive. Consider the cap ex, and where that capital will come from, for things like roofs, maintaining common spaces, or renovating units.

Fellow Bay Area resident here. My significant other and I rent in SF but invest exclusively in Phoenix, AZ. The downpayment, even 5%, was such a big opportunity cost so we figured our money was better spent out of state. Love phoenix though - quick flight so I visit about 4-6 times a year.

I get the sense that the pendulum will swing. Remote work will likely increase bc of lower costs to companies, access to more talent, etc. But then somewhere down the road, we'll realize that humans actually like hanging out in person quite a bit. And then we'll see the value of working in offices again.

I'm sure detriot is great. I'd give my strategy and timeline more weight than any city though. Like you'll be able to make money in any market if you put in the time, energy, and patience.

@Jennifer Valentine i hear you. I love living in the city but the numbers never make sense here; still fun to crunch from time to time! I remember reading a quote here once that went something like "live where you want, invest where it makes sense". Been investing exclusively in Phoenix since =)

hey @Danny Reed, fellow SF resident here. I live in the Glen Park neighborhood, work in downtown, but invest out-of-state. @Houston Garcia, is a SF native and a realtor who also does flips in the city. I've met and chatted with him extensively and he's a genuine person! You should def holler at him.

@Kevin Phu welcome to San Diego! How are you settling in? We lived there for a few years before trekking it up to San Francisco. I sure miss all the food from SD!

I've been running the numbers in SF for the past few years just for kicks; they never work out. I came to realize that cash flow play in Bay Area is pretty rough and the opportunity cost of the down payment and time to landlord the property just isn't worth it imo. Ended up investing out-of-state and it's been pretty fun for the past year.

There are a few in San Francisco city. I always enjoy going to the events hosted by @Brenda Chen and her partner.

I've also found BP members super friendly and usually grab coffee with them personally after messaging them here.

@Natalie Hahn there's a lot of development happening in west oakland. It's super close to BART so location is great. It just all depends on the project and your strategy. For example, I know an investor working towards tearing down a building and constructing a 15ish unit building near Lake Merit. I'm guessing those new units would have low maintenance and low vacancy since they're new.