New BiggerPockets Member from San Diego, CA! And yes, I pay too much to just live ;)

[Allen Ramirez]

Hello BiggerPockets Community!

I am new to this forum. I have been reading a couple books on getting started into real estate investing and they both recommended this website, so here I am!

Currently I don't have any investments, which is why I am here. But I DID recently purchase a vacant lot from a family friend in Crestline, CA. I plan to build a small residential house (~1800 sqft) in the next coming years. Then rent it out after it's complete, unless knowledgeable people tell me otherwise. 

Quick background on me, I am a licensed structural engineer in the state of California and 47 other states. So I know a thing or two about design and construction, just lacking the real estate side of things. 

Next year in addition to starting to plan for my vacant lot, I plan to also purchase something. I am thinking of a house in the Crestline, CA area since prices are reasonable and most houses are older where some cosmetic upgrades can be made. I then plan to rent it out to receive a small cash flow and let it appreciate over the years. 

I am hoping within the next year after I will be able to get into multi-family unit purchases. 4-duplex and under. I do see the great potential with those but I am just lacking the upfront costs and knowledge to start those just yet. 

Ideally in the future I will have money coming in where I don't have to work AS MUCH. I still love what I do which is being an executive director of the structural engineering department of an international company (shout out to BASE4 International!). But I WOULD like to spend more time with my 3 kids and travel more with my wife. Also, I'd like for my kids to not struggle with money as I did growing up with my parents. 

If you made it this far through my post, thank you! And I hope to learn from everyone here!

Thanks,

Allen Ramirez

[Allen Ramirez]

Quote from @Bradley Buxton:

@Allen Ramirez you're on the right track because the first deal is always the hardest and you put in the learning either before the deal or during.  If you're interested in out of state markets take a look at Reno or Gardnerville, NV.  It's great for families, near Lake Tahoe and tons of BLM land for outdoor adventures.  We are seeing some of the best deals in multi-family in those areas. From an analytical standpoint we have a positive population growth and an exodus of tech jobs from CA.  No state income tax and landlord friendly.  I'm happy to be a resource on your journey in NV.  

 Hi Bradley! Thanks for the insight. I will definitely keep NV in mind seeing as it's somewhat close but has a better pricing market compared to where I live :)