Posted by Bryan in Cali on February 03, 2002 at 19:45:00:
Has anybody had success doing lease options in the SF bay area? From what I’ve read, that could be a good way to make some profit on high priced SFH’s.
High Priced Bay Area Homes - Posted by Arnold
Posted by Arnold on February 03, 2002 at 13:34:22:
Hello Everyone!
I’m emailing from Northern California and I just finished going over the Carlton Sheets program. I’d like to start investing around my area, just to start off. However, the only problem I have is that most of the 3 bedroom homes are around $400k. Is it possible to make a positive cash flow with no money down? Has anyone experienced this kind of problem? I’ve gone over the financing techniqes available many times over and I still can’t see how I can come out on top, especialls with the prices over here.
Can anyone help me? Also, are there any bay area investors clubs here? Thanks
“Mr Ice Cream”
Re: High Priced Bay Area Homes - Posted by Lor
Posted by Lor on February 03, 2002 at 15:08:43:
Is it possible to make a positive cash flow with no money down?
Not really. I have only made money here on rehabbing and by appreciation (luck). An example is a house I picked up a couple years ago for 240K, spent about 50K to upgrade and sold for 599K. For positive cash flow you need to look in outlying counties, the valley, foothills etc. Only a few hours away. If you are determined to look in the Bay Area, try finding a home built by the builders “Moyer & Green”. Most of these homes were built in the 60’s and are two story and easy to maintain. You enter and can go upstairs or downstairs. Each level can be rented as an individual unit about $1,700 apiece vs. the average rent of $2,400 a month for a single family home. You might get a positive cash flow this way. Good luck.