All Forum Posts by: Yutaka Tso

I wanted to ask any investors in the Bay Area, what your looking for in buying properties preferably in San Francisco and how much would you typically put in the rehab? I've heard from $100k to roughly $400k

Im looking in the richmond District 94121 so far there are roughly 20 properties that need to be fixed up. I've got in touch with some realtors here that have told me theres a high demand in buying and very low supply. good for business.

Thank you for taking the time out of your wonderful life to help a newbie like myself, I appriciate BiggerPockets.com

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Originally posted by @Greg Scott:

Steps 1-3 are generally correct with some exceptions:

Your comps should be of similar size to your property. A 4000sqft property is not comparable to a 2000sft property. The best comps are nearly identical square footage, and if you find them you don't need to do all the math on $/sqft.
Given the above, I'm not sure what you mean by "raise the sqft on comps by 200sqft to get a better estimate". That doesn't make sense to me.
You will need to adjust for condition. If some of the comps are in bad shape, throw them out because they are not "after repair". If you are putting in mid-level finishes, such as laminate countertops, don't use a comp with high-end finishes such as quartz countertops.

Step 5 - What you choose as your target acquisition cost formula depends on your and your business model and is not an industry standard. Since I buy & hold, I would be willing to pay a lot more than someone that flips.

I understand, Thank you Scott for giving me this useful knowledge I really do appreciate it, I've been I use more high end comps for my ARV i will keep in mind, the materials used for sold projects for comps.

AI am Using comps in the area "recently sold homes" with the same square feet (roughly) and same amenities. You said, "You will need to adjust for condition." thanks so much for saying that and the example following it. really helps me out when looking for comps.

What i said about raising by 200 sqft was my way of giving a wider view for the seller to get an idea of what other homes sold for. Now that I'm typing it out doesn't makes sense, anyway thanks so much for dropping a comment.

Do you also work in the Bay Area, Scott?

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calculating the ARV using similar sold comps;

1). Price on sold home/sqft = $X p/sqft

2). Finding the Average $/sqft for each sold comp

3). Comps Average $/sqft x my properties sqft = ARV estimate

4). Finding the target price for deal.

5). ARV - Repairs x 6% - fee, closing cost, resell fee = target price.

How did I do? Also would you suggest I raise the sqft on comps by 200sqft to get a better estimate? I would try and keep the same similar specs.

But what do y’all think? My apologies if this doesn’t make sense. Also leave a vote if you think I’m on track. Thanks :)

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Originally posted by @Duncan Hayes:

@Yutaka Tso they won’t all be jumping with joy to help you out. My advice is find a new realtor that you can grow with. Because the amount of “seasoned” realtors that dislike what we do in wholesaling is huge. Address yourself as an investor, not a wholesaler. Not only does the term “wholesaler” have a ton of negative light on it, but it’s a limiting term. You’re an investor and wholesaling is just one of many tools in your tool belt.

Propstream and Propelio both can give you access to MLS sales. Propstream has a 7 day trial and Propelio has a 14 day trial. Sign up and try them out.

Thank you Duncan, I’ll definitely remember, as I’m calling. Thanks again for the learning experience, and knowledge I can use in my calls. I’ll checkout prop once I get a good list of homes to target. A small update, I found a realtor friendly to wholesalers I didn’t even bring it up when we spoke.

1 Vote

Originally posted by @Duncan Hayes:

@Yutaka Tso get connected with a realtor and offer them some sort of value. I started wholesaling in Sacramento back in 2019 & my first deal came from connecting with a realtor, she sent me the lead. There's also programs like Propstream and others that can show you what homes sold for via MLS & public record.

I will talk to more realtors in the area to give them some sort of value to get access to the MLS. The first agent I talked to was very helpful although not willing to give me access to the MLS which I understood. One step at a time. Thanks so much Duncan, I will also check out Propstream

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Originally posted by @Brian Fitzgerald:

Hello Yutaka,

What areas are you interested in investing in and I can try to assist you with other investor friendly agents and organizations.

I’m looking in San Francisco for vacant or red tagged homes in the area, I live in sunset area and was looking here, Richmond district, outter sunset, maybe Daly City. Thanks so much for replying to my post.

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Hi, I’m new to wholesale real estate in the Bay Area. I’m 23yrs, Eager to learn about everything you wonderful people have to offer.

Q: What can I offer to get access to an up to date MLS in San Francisco area?
Q: How hot is the market in the Bay Area as of 2022

Thanks for answering any question, I really appreciate it!

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All Forum Posts by: Yutaka Tso

Yutaka Tso has started 3 posts and replied 8 times.

Post: As an investor in the Bay Area what is an Ideal Buy for you?

Post: As an investor in the Bay Area what is an Ideal Buy for you?

Post: Q: Am I doing this right?

Post: Q: Am I doing this right?

Post: 23yr wholesale flipper in the Bay Area, learning as much as I can

Post: 23yr wholesale flipper in the Bay Area, learning as much as I can

Post: 23yr wholesale flipper in the Bay Area, learning as much as I can

Post: 23yr wholesale flipper in the Bay Area, learning as much as I can