New Investor - Monterey, CA

[Jilina Mercier]

Hi! My name is Jilina, and I am new to the BP community.  I have been consuming finance, business, and investing content since I was 17 (I am 21 now), and I am ready to start my real estate hike!

I was a marketing manager for a top real estate agent for about 2 years, and most recently I was a Sr. Project Manager at a construction retail company.  Consequently, I have unintentionally acquired all of this relevant real estate knowledge and experience with marketing, construction, and pricing (at least doors/millwork/hardware/windows).  I now just run my private coaching business for some income while I use this extra time to educate myself and get started on my path.

I've been investing (non-REI) for a few years now, but I am going all-in to real estate. I have experience and have enjoyed being a part of the world, but more importantly I want to be financially free so my family can take advantage of opportunities I had to pass on growing up due to money constraints, to have the ability to travel because I hate feeling stuck in one place, and to have time to spend with the people I love doing things I find meaningful and fulfilling. I have a small amount saved (at least in comparison to a lot on this forum--substantial for those I know), have limited expenses while I still have relatively minimal responsibilities, and have a lot of time and enthusiasm on my hands.

In this transition for me, I am considering my next step.  I would like to learn more about appraisals, deal analysis, remodeling, and financing.  I have considered finding a job in property management, appraising, construction, or lending--I would love any thoughts on these!

I am also preparing to make my first investment. At this point, I am looking for cash flow, but want to transition into an appreciation-based strategy ASAP for my long term goal. It seems to be the best way to go about this first goal is with rental properties. House hacking also looks interesting, but I'm living at home in a tiny apartment for the time being, so it doesn't seem to my best course of action. BRRRR has also caught my eye, but I feel I should start with rental properties. I'd love to do some house flips as I feel I've been on the supplier end for a while now, but I feel I need more experience before I plunge into something major like that. I've done a bunch of deal analyses and have created some spreadsheets that I'm really proud of to help me out (which I find data, spreadsheets, and coding SO fun).

All this being said, it's quite overwhelming to pick a starting place!  I live in CA, which is obviously super expensive.  I don't really want to invest here, although I have all of my real estate connections here.  I have lived in Utah, and thought that was where I would start off, but after doing a bunch of deal analyses (assuming I'm not being waaaay too conservative) it doesn't seem to be a place to get cash flow right now. My boyfriend's dad who was a super now lives in South Dakota, which looks landlord-friendly, but I'm still not finding the cash flow I'm looking for.  I've lived in New Jersey, but those property taxes are BRUTAL.  I used to live in Texas and I do have a connection there, so I might start looking there.  But the Midwest/Southeast seems to be where I need to start--it's just unfortunate that that is like the one area that I have no connections.

I really appreciate if you've read this far!  I have so many thoughts and ideas, and I am excited to get to learn from this group and become an asset.  I would love to hear your thoughts, and hope to connect with some of you in the future:). 

Also shoot me some book recommendations! I'm currently reading Set For Life and Long-Distance REI.