Sheets or REO's in Bay Area, N. California - Posted by Susan N.CA

Posted by Karl Grube on May 02, 1999 at 18:14:40:

The market is too expensive to favor a positive cash flow. Switch to a construction strategy. Acquire a building site that allows 2-family. Obtain a builder who specializes in duplexes/multiple family. Maximum rents will accrue if the duplex looks like a fshionable single family house. If the architectural plans are eye appealing to the zoning board, you will be granted a one time only variance in a single family subdivision. If you get $300,000 in the project, the numbers will work out. If you can hold onto the property for three years, you will maximize profit. However, with your hot market, you will probably be able to do a zero lot line deed and sell two residences instead of the entire duplex. It’s worth a try, I did one of these projects in Ann Arbor where houses are just as outrageously priced!

Sheets or REO’s in Bay Area, N. California - Posted by Susan N.CA

Posted by Susan N.CA on May 01, 1999 at 20:32:42:

Has anyone had success in buying investment properties in northern California without putting a lot of cash down and still netting a positive return? Rents are high, but houses are higher. They’re now averaging over 300k in the bay area. I’m addicted to the idea of investing in real estate, but I need to figure out the most realistic way to start in this area. I have excellent credit, two houses, lots of equity, no job verification and little cash. I’m now researching foreclosures, REO’s, and Tax Auctions. Any suggestions?