How to get started in Real Estate in the Bay Area | Bay Area Real Estate Tips #31 - a podcast by Spencer Hsu, MBA Tech Realtor
from 2023-12-14T09:44:00.188429
The Bay Area is one of the most attractive places to live and work in the US. Boasting various job opportunities, sightseeing and natural beauty. The Bay Area is also host to a healthy market and a thriving local economy. All of this makes it an excellent place for potential real estate investors to start buying property and building up a portfolio. I get asked a lot, “How can someone get started investing in Bay Area real estate with no prior experience with investing? Isn't it too expensive?" In this video, I hope to clarify the process of getting into real estate and answer this frequently asked question.
The first step for anyone who doesn't own property or a home and is interested in investing is, to get pre-approved by a lender and a primarily a local lender. The pre-approval process involves credit checks and research of your financial history, which will help the lender to understand what you can buy up to.
Once you're pre-approved, you're free to begin looking for places to invest in within the Bay Area. That's when individuals and buyers sync up with myself to get that conversation going and to create your own search parameters.
So that leads us to the next question, “If you aren't a home owner already, what's your best option to getting into investing?" House hacking is the best arbitrage you can make because it means that your tenants are essentially paying your mortgage for you, at the same time, you get the benefits of owning a home. If you already own a home and want to consider another home, you can now think about purchasing a rental property.
The beauty of the Bay Area and the strategy, has always been the long-term appreciation. The Bay Area gives you an idea has gone up 6% a year on average over the last 30 to 40 years. This is the highest across the country. With the high paying jobs, limited space for growth and difficulty to do construction, these factors make the properties in core Bay Area locations, extremely valuable.
Even though getting into real estate investment might seem a bit intimidating, don't let that stop you and don't psych yourself out before you begin. Purchasing real estate in a prime area like the Bay area is a wise choice for your financial future. If you choose your property and location well, you could expect to see returns on your investments for years to come. Think about Palo Alto. Did you know that Palo Alto has 50% renters? What's even more interesting is that, that means several people in Palo Alto own multiple homes. So you can see how they think and how they have accrued and amassed so much wealth.
Hopefully this video helped enlighten you about the process of getting into real estate with an investment mindset.
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If you’re interested in buying, selling, or investing in residential or commercial real estate in the 📍SF Bay Area, contact me today!
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My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!
Spencer Hsu, MBA, Realtor
408-547-4590
EXP Realty DRE #02077253
https://www.homesbyspencerhsu.com/
#BayAreaRealEstate
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