New Investor !!!

New Investor !!!

Member since 2024 · 1 post · 3 votes

Hello! My name is Maegan and I am in the beginning stages of adulthood. I got my first “career” job a year ago, but quickly realized that trading time for money wasn’t going to be enough if I wanted to create wealth while living in California. After doing some research, I finally read rich dad poor dad (a classic turning point). Reading this then lead me to try and find ways to invest my money. One of my good friends and I were talking about different investing methods and decided we would be each others accountability partner. She would learn and teach me about investing in stocks and I would learn and teach her about real estate investing. This lead me to finding the bigger pockets podcast on YouTube a few months ago, and then eventually to the real estate rookie podcast. After listening to the podcast for months and reading multiple books on real estate investing and rental properties, I am officially hooked and eager to begin my real estate investing journey! I am open to connecting with real estate investors in the area and am eager to learn and hear about other investors experiences. I am excited to join this bigger pockets community and look forward to connecting! Cheers!

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  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    2y

    Welcome to BiggerPockets Maegan and best of luck investing!

  • Min ZhangBusiness Member
    Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
    2y

    Welcome to BiggerPockets Maegan. This is a great place to learn about real estate investing. Can't wait to see you grow!

  • Real Estate Agent · Southern California · Member since 2019 · 681 posts · 281 votes
    2y
    Quote from @Maegan Yim:

    Hello! My name is Maegan and I am in the beginning stages of adulthood. I got my first “career” job a year ago, but quickly realized that trading time for money wasn’t going to be enough if I wanted to create wealth while living in California. After doing some research, I finally read rich dad poor dad (a classic turning point). Reading this then lead me to try and find ways to invest my money. One of my good friends and I were talking about different investing methods and decided we would be each others accountability partner. She would learn and teach me about investing in stocks and I would learn and teach her about real estate investing. This lead me to finding the bigger pockets podcast on YouTube a few months ago, and then eventually to the real estate rookie podcast. After listening to the podcast for months and reading multiple books on real estate investing and rental properties, I am officially hooked and eager to begin my real estate investing journey! I am open to connecting with real estate investors in the area and am eager to learn and hear about other investors experiences. I am excited to join this bigger pockets community and look forward to connecting! Cheers!


     Welcome! I am a local San Diego investor if you have any questions feel free to fire them my way.

  • Dan H.Pro Member
    Investor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes
    2y
    Quote from @Maegan Yim:

    Hello! My name is Maegan and I am in the beginning stages of adulthood. I got my first “career” job a year ago, but quickly realized that trading time for money wasn’t going to be enough if I wanted to create wealth while living in California. After doing some research, I finally read rich dad poor dad (a classic turning point). Reading this then lead me to try and find ways to invest my money. One of my good friends and I were talking about different investing methods and decided we would be each others accountability partner. She would learn and teach me about investing in stocks and I would learn and teach her about real estate investing. This lead me to finding the bigger pockets podcast on YouTube a few months ago, and then eventually to the real estate rookie podcast. After listening to the podcast for months and reading multiple books on real estate investing and rental properties, I am officially hooked and eager to begin my real estate investing journey! I am open to connecting with real estate investors in the area and am eager to learn and hear about other investors experiences. I am excited to join this bigger pockets community and look forward to connecting! Cheers!


     I am a long time San Diego residential RE investor.  Have done most residential RE items except commercial MF, new development, and sub-to.  

    >but quickly realized that trading time for money wasn’t going to be enough if I wanted to create wealth while living in California.

    I think you are entering a tough market.  2.5 years ago (before interest rates doubled)  it was a much easier market.  I believe the time to purchase a rent ready property and have decent cash flow on day 1 is past, at least in the near term.  I want to be clear that even rent ready cash flow is not passive; residential RE even with a PM requires effort/work.  This implies that instant return likely will take more effort than in the recent past.  At least your work is going towards benefitting yourself rather than largely benefiting an employer. 

    In San Diego, I see few options that work. 1) patience. Wait and negative cash flow turns positive. Appreciation dwarfs the cash flow. I am not that patient. 2) value adds. These include traditional rehabs to sophisticated market specific value adds. They require work and often have risks 3) alternative rent models such as STR, MTR, rent by room. Using a PM will destroy the return. Self managing is work. 4) alternate financing. Not easy to find without a price penalty. Sub-to has risks of loan being called.

    My point is you will still likely be trading your time for money.  I felt this was less so from 2010 to beginning of 2022 than in the current market.  I certainly am not implying you can not achieve your goals in RE.  What I am stating it will almost certainly require work, and probably risk, to do so. 

    Educate well.   Use BP as a resource but realize not all responses are coming from people with same level of success.  Realize it will take effort, have risks, and likely take a while to accumulate life impactful return.  

    Good luck

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