[Bay Area, CA] I’m interested in getting into REI, but can’t get the numbers right.

Hi! I have been obsessing over getting started in owning and managing a duplex or triplex to build passive cash flow to a point where I have lost many nights of sleep. I really want to start in my own backyard so I can closely manage it after work or on the weekends. As many of you may know, anything within 30-50mi radius of San Francisco Bay Area is expensive, so I have been trying (without luck) to see how exactly owners in the area could produce positive cash flow.

Could any experienced owners around the area give me some pointers? What's a good operating expense for an average duplex or triplex in the area. My main problem is that I want to do it with FHA but the mortgage is around $4000+ a month with a low 3.5% down payment. With a $4000 mortgage, I just couldn't work out the breakeven rent.

PS I'm also looking for a mentor in the area who could give me pointers from time to time or maybe get me somewhat involved in their deals or operations.

Thanks!

More real estate tips at Program Realty Wix site

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s