The rental is in the San Francisco Bay Area.

(First Time Home Buyer / House Hacking)Hello BP Community, I’m based the Bay Area, Ca & have fix n flip experience in this market.

I think one of the biggest differences between TX and CA (we moved from Bay Area) here is the price differences. 

I recently own approximately 1.5 acres of commercial real estate zoned R-3 moderate density multi family in Green Bay WI.I talked to a developer who estimates site fully developed could fit approximately 3 buildings of 12 unit apartments.

I was doing pretty well with my existing properties in San Francisco Bay Area and Indianapolis suburb, all Class A, higher income tenants, oldest property is built in 1957 and 1961 (local so I can check on these every week and they are all up to code) and 2005 (Indy Class A)I bought in spring 2023 a Class C property in Indianapolis for $130,000 which was supposed to cash flow on paper $176 a month at higher interest rate.

Consider yourselves lucky you don't live in the Bay Area. 

While a couple of the charges were higher than expected (I am comparing the prices to the Bay Area in Cali; I am familiar as we own here as well), we paid as the service was still quite high. 

I have witnessed where NEWBIEs are having moderate cash-on-cash returns in TAMPA BAY area.

One client of mine is absolutely crushing it in Green Bay, Wisconsin.

Find the link to the meetup below.Tampa Bay Real Estate Investing Meetup - February 2024