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Old 12-16-2016, 11:22 PM
 
423 posts, read 606,848 times
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Real Estate Investing 101: don't listen to strangers on internet forum whose experience, results, or expertise that you cannot confirm.

With that said, I suggest you buy in central valley. Close enough so you can keep your eyes on the property. But it will be difficult to be cash flow positive with 25% down. So it won't be for faint of heart.
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Old 12-17-2016, 04:46 PM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,261,112 times
Reputation: 6469
Never. Ever. Never. Buy real estate in any market you don't understand or have any experience with unless you are willing to make an investment in your own education.
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Old 12-18-2016, 10:50 AM
 
500 posts, read 839,208 times
Reputation: 496
Quote:
Originally Posted by DMenscha View Post
Never. Ever. Never. Buy real estate in any market you don't understand or have any experience with unless you are willing to make an investment in your own education.
This applies to any investments, not just in RE
Follow the (experienced) flippers.... and buy when low, not high.
Seems like a soap bubble that is wobbling and shaking right now in CA. Tech companies won't raise wages, they'll rather move operations offshore... And sane techies won't move to Sacto. Chinese investors are uncertain now too (though some are moving South after Vancouver kicked them with foreign buyer tax).
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Old 12-18-2016, 11:01 AM
 
28,109 posts, read 63,514,055 times
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Quote:
Originally Posted by DMenscha View Post
Never. Ever. Never. Buy real estate in any market you don't understand or have any experience with unless you are willing to make an investment in your own education.
Profound advice...

My brother bought an old Christmas Tree farm not knowing anything about farming, trees etc... he just fell in love with the property and the deal made sense.

After escrow closed he got to thinking he had all these Christmas trees and said how hard can it be to develop this as a sideline?

First year learned a lot as a lot of mistakes were made... I asked if he was out the the business and he said no... it is just the cost of education... next year improved on things and broke even... this year looks to be fantastic...
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Old 12-18-2016, 11:03 AM
 
500 posts, read 839,208 times
Reputation: 496
In some areas, even in the West, even now, it can be still hard to sell....like years....speaking of "education"...can be in for a Ph.D.

Last edited by xani; 12-18-2016 at 11:52 AM..
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Old 12-18-2016, 11:25 AM
 
24,351 posts, read 26,812,905 times
Reputation: 19827
Quote:
Originally Posted by DMenscha View Post
Never. Ever. Never. Buy real estate in any market you don't understand or have any experience with unless you are willing to make an investment in your own education.
Agreed
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