Starting out- not sure how haha

[Jonathan Kim]

Hello all,

My name is Jonathan and I’m 23. I’m a year into my job as an accountant and I’ve saved up a good amount of money in the range of 15k-25k. I’ve seen the podcasts and read articles and I’m determined to own properties and rent them out. I’ve found a realtor who’s shown me properties and a lender who’s willing to work with me but I’m struggling to find properties that would work in my price range and even if I did find a property I don’t know if I’d be even able to find renters. Owning a property and not being able to rent it is a scary thought to me. 

I was wondering if anyone could give me their experience in 1. Finding a home and where/how to look, 2. How exactly they were able to find renters. 3. How you figured out how to calculate the costs of maintaining a home and how to create that team of people who will help you (plumbers, electricians, etc).

also if anyone knows any good areas in CA that would be really helpful too! I don’t even know where to begin looking here.

[Randall Alan]

@Jonathan Kim

You will quickly find out that finding your renters is super easy.  Zillow is all you need.  When we list a lower end property (ie rent under$1,600)  we get flooded with 20-30 inquiries a day!  We literally turn off the ad after 2 days because it is more than enough to find a good tenant.  So don’t fear being able to rent your unit as long as you price it in line with other similar units.  You will be shocked how easy it is! 

Creating a team is either about asking fellow local landlords who they use, or you can go by trial and error.  Once we find a plumber / AC guy / etc that is readily available when we call we go to them every time.  Once they see how much business you send them and that you pay like clockwork, you gain their respect and attention.  I know they bump people to fit our calls in sooner!  I’m literally on a first name basis with each receptionist.  It’s “give me the problem, the address, and their name and number” and the problem gets solved without me being in the middle of it.  It’s like one big happy family.  Our plumber literally sent us a Christmas card last year!   Find a good one and stick with them!

Randy