This year is expected to manifest an ongoing correction in housing market affordability
as we expect household incomes and housing costs to gradually approach a more
sustainable relationship. We project that the combination of declining home prices,
lower mortgage rates, and, with time, growing household incomes, will eventually place
the housing market in a recovery. The same dynamic holds for rents.  However, we
believe this process is likely to take multiple years.

What Mark will discuss:
 The macroeconomic backdrop and outlook following recent banking turmoil.
 Expected credit conditions and how it affects the real estate market.
 Housing and real estate market conditions and outlook with a focus on
California.
 Multifamily market conditions (including rent growth) and outlook with a focus
on California.

About Mark:
Dr. Mark Palim is Vice President and Deputy Chief Economist at Fannie Mae. He
oversees the teams responsible for Fannie Mae’s macroeconomic and housing
forecasts and the National Housing Survey. His team has won the Lawrence R. Klein
Award for Blue Chip Forecast Accuracy and, on two occasions, the NABE
Outlook Award. In addition, Mark leads a team of economists who conduct in-depth
research on issues affecting housing affordability, including the first work at the
company on climate change. This research has informed Fannie Mae strategy and
resulted in publications in peer-reviewed journals.

Zoom meetings are FREE to annual members and $35 per meeting for non-
members. Annual membership request [email protected]

Register for May 10th @ www.NorCalREIA.com click on “Buy Now”

Annual members also receive access to Friday “LIVE” meetings. Next one is
May 12th @ 7:00 AM “LIVE” in Sacramento. Join Laurel Sagen and myself,
discussing the tools needed for investing in todays changing market. Subject to, IRA
Investing, owner financing, rental income and more…

Friday May 12th is FREE for annual members networking & speaker event.
Networking 7:00 -7:30 am Meeting 7:30- 9:00 am

“NEW” Annual members 4th Wednesday Coffee in Granite Bay, “where we
create deals” event @ 8 am is FREE for annual members.

Annual membership (includes all three meetings) is $300 request a membership
at david@NorCalREIA@com

Annual members will receive zoom registration link and LIVE meeting locations.

California Cash Flow in 2023

Deal-Making in a Competitive, Inflationary & Uncertain Market

Aaron Mazzrillo is a real estate investor with no fear. On social media, Aaron gives his followers insight into how he runs his business — no frills, just cash flow. Take a minute and give him a follow, (@aaronthehousebuyer). He gives away free tips, analysis, and hilarious social commentary.

Over time, Aaron has developed his investing niche — buy-and-hold Southern California real estate. You may ask yourself: is he doing this with hard money? How does he make any of these deals cash flow? Where is he finding all these properties?

Since 2006, Aaron hasn’t stopped buying rental properties, even through the pandemic. But will he continue to buy in 2023? You’ll have to join us to hear Aaron and NorCalREIA President David Granzella have an open-ended discussion about past, present, and future real estate.

Below is just a snippet of what will be discussed:

A tale of two halves — will 2023 look like the end of 2022 or the beginning of 2022?

• Why will “subject to existing financing” be powerful in 2023?
• What is the capture equity and refinance method?
• How can you create deals nobody else sees?
• Are you looking at properties wrong?
• How do you control equity using seller financing?
• How do you manage risk with development to generate the biggest profits?

Aaron Mazzrillo on Wednesday April 12^th, 2023 @ 5 PM a ZOOM event.

Zoom meetings are FREE to annual members and $35 per meeting for non-members.

Nonmembers register for April 12th @ www.NorCalREIA.com click “Buy Now”

Friday April 14^th @ 7:00 AM “LIVE” Join us “LIVE” in Sacramento engaging with other investors who have prospered from Bruce Norris in quadrant 2.

Friday April 14^th is FREE for annual members networking & speaker event.         Networking 7:00 -7:30 am Meeting 7:30- 9:00 am

“NEW” Fourth Wednesday Coffee in Granite Bay, “where we create deals” event @ 8 am is FREE for annual members.

Annual membership (includes all three meetings) is $300 request a membership at david@NorCalREIA@com

Annual members will receive zoom registration link and LIVE meeting locations.

 

About Aaron Mazzrillo:

Aaron has been a pro-California investor since 2006, operating his fix & flip and property management business out of Riverside. His primary focus is buying off-market properties using private funds or existing equity and debt. Aaron’s smart strategies for wholesaling, buy and hold, and flipping are fascinating and will give you an entirely new perspective on building wealth through real estate, while enjoying every moment of it. His current rental portfolio alone earns more than $1,000,000 per year.

Some years ago, The Norris Group invented the Quadrant System, or as we called it
back then “The Deal Wheel”.  Quadrant 4 is when real estate goes up and then
explodes in price. Quadrant 1 is a flat period when prices stop increasing and there’s a
mood shift towards real estate. Power goes from the seller to the buyer. Quadrant 1 in
the past quickly leads to quadrant 2, prices decline.

That’s where California is, about to make the transition from Quadrant 1 to Quadrant 2.
By the math of it, California could easily see a 40% price decline. Fortunately, there’s
more than just the math to consider! What’s next and how to make money in the next
quadrant 2?

What Bruce will discuss:
 How long will we stay in Q1
 What is the damage going to be in Q2
 What investor need to do to get ready
 What the past Q2’s looked like
 The evolution of an investor

Bruce’s previous presentations:
 2006: California Crash (NOT 2008)
 2009: Category 5
 2012: All In or Fold
 2014: California Comeback 2: Fast Furious and Dangerous
 2019: On Borrowed Time
 2022 Unchartered Territory – The Final Chapter
 2023: Understanding the Quadrants and How to Make Money in This Next
One

Zoom meetings are FREE to annual members and $35 per meeting for non-
members. Register for March 8th @ https://norcalreia.com click on “Register Now”

Friday March 10 th @ 7:00 AM “LIVE” We kick off 2023 with our speaker Tom
Manning owner Tower Bridge Property Management.

Friday March 10 th is FREE for annual members networking & speaker event.
Networking 7:00 -7:30 am Meeting 7:30- 9:00 am

“NEW” Fourth Wednesday Coffee in Granite Bay, “where we create deals” event
@ 8 am is FREE for annual members.

Annual membership (includes all three meetings) is $300 request a membership
at david@NorCalREIA@com

Annual members will receive zoom registration link and LIVE meeting locations