Newbie From Southern Ca Looking To Start Wholesaling & BRRRR

[Ben Mosh]

Hello Everyone,

I'm an IT guy that is looking to get into real estate investing (in hope to build financial freedom). I figured I would start out by getting into wholesaling, which I am hoping will introduce me to my first BRRRR opportunity.

I currently live in Riverside county,  so I was planning to start in this area. 

I'm still in the process of educating myself,  but was wondering if anyone has any suggestions for me. Curious if anyone thinks my buy/hold goal is obtainable in Southern California( with only about $60K of savings). Should I be looking out of state? Also, one concern that I have is that I recently bought my first home. Not sure how this will affect my eligibility for another loan. 

Any feedback/suggestions would be greatly appreciated!

Thanks, 

Ben 

[Ramon Vazquez]

@Ben Mosh Buy and hold for cash flow is difficult in SoCal without larger down payments. Considering out of state investing should be part of your process when considering a market to invest.

If you are concerned about getting another loan, the best thing to due is get pre-approved ahead of time that way you know you can get the financing needed for the deal. Basically it comes down to debt to income ratio.

Hope this helps!

Ramon