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Updated almost 9 years ago, 01/23/2016

User Stats

65
Posts
39
Votes
Jimmy Watson
  • Investor
  • San Diego, CA
39
Votes |
65
Posts

2-8 Unit Buy & Hold

Jimmy Watson
  • Investor
  • San Diego, CA
Posted

Ladies and Gentlemen,

I've read several books now on Real Estate Investing, including the "BiggerPockets Ultimate Beginner's Guide" (which, is a great read by the way).  Now that I've got a little knowledge under my belt, I'm almost ready to take that first step and start looking at properties.  I'm currently in the military and forward-deployed on a ship, so I won't be back for a couple more months... and in the meantime I'm trying to get as much done on the internet as I possibly can.  My goal is to buy a 2-8 unit apartment complex before March 2016, hold onto to it, have a property manager manage the properties (since I don't have the time due to my busy work schedule), and collect the rent. 

Here is why I am posting today, and this is my dilemma.  I live in Camp Pendleton, California... Right outside of Oceanside (San Diego area).  Obviously, being in the military I don't make that much money- which brings me to my first problem... Southern California is EXTREMELY expensive, as many of you I'm sure are well aware.  Now I've been reading a few forums and posts on Bigger Pockets, saying that you don't need to put money down in order to get into real estate- but isn't this extremely risky? 

Also, since I won't be living in California for more than a few more years- is it wise for me to buy here?  Do you guys think it would be more in my interest to look at booming markets that are more affordable, like Raleigh NC?  I was also thinking about Florida because I realistically see myself going to school there if I decide to get out. 

Anyways, I know this is all a lot of a questions and I'm sorry if it seems like I'm bouncing all over the place.  Bottom line is I really want to get into the real estate business, and eventually accumulate several properties that I buy, hold, and rent out for the long-term... but am having trouble on deciding where to start buying since I don't have more than 10,000$ and I'm constantly gone due to the nature of my job. 

Thank you all

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