Advice For REI In Silicon Valley!?
Hi everyone. I live in Santa Clara, California and am looking to invest in real estate here but I'm having a heck of a time finding something that will generate positive cash flow from the get go. Prices are much higher than the rent can support, so I'm not sure what to do. Any advice would be greatly appreciated!
Thanks in advance.
Move............(just kidding) .....RE in the Bay Area is crazy there are very few deals where you can buy and rent for positive cash flow and there are a lot of people out there looking for them so the competition is stiff... I don't buy here I look outside of The Bay Area but within driving distance....and even then they are tough to find and make work........the good thing here is the markets are still rising and for the short term look like they will continue to.....this makes for instant equity if it happens.........and allows for some breathing room
Good Luck
It does absolutely suck in tha bay area. I currently live in oakland and homes out here go for at least 600k. I am trying to be a bird dog but I find it almost impossible to get any deals out here. I am trying not to give up and find a clever approach put it is very hard. I would suggest looking for abandoned properties and finding the owner through the tax assesors office to see if he/she is willing to sell. Good luck!