Introduction - Anthony from Sacramento

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Introduction - Anthony from Sacramento

Anthony Russell
Camarillo, CA · Member since 2014 · 5 posts · 2 votes

Hello BP community. I've been reading some of the excellent discussions and articles over the past month; and I figured it was about time I introduced myself.

I am Anthony, and I am looking forward to my first investment property. I live in Sacramento, and would love to invest here; but I've heard from so many people that it is hard to Buy & Hold in California. So if anyone can provide an alternative perspective to that, I'd appreciate it.

My plan is to diversify my portfolio across the US and different properties from single family to multi-family residents (2-4) - for now. My long-term goal is to be able to retire by 60; so I will need to obtain 20 properties that have great cash-flow.

I am looking forward to learning and sharing.

If you are an investor who works in multiple cities across the country I'd like to learn more from you. Also if you are successfully investing in the Sacramento region; please reach out to me.

Thank you,

Anthony

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Joe Bertolino
Investor · El Dorado Hills, CA · Member since 2012 · 1k+ posts · 1k+ votes
12y
Take a look at Yuba City. You don't have to buy out of state for cash flow.
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  • David Hutson
    Rental Property Investor · Tampa, FL · Member since 2013 · 404 posts · 421 votes
    12y

    Welcome Anthony,

    I'm a local buy and hold investor. I would say read/learn as much as you can from the BP and other credible sites. There is a lot of info to digest. We have started a local meet up group recently with people from this site. We will probably meet again in a month or so. Make sure to stop by. There are also 3-4 local REIA meetings every month.

    It's getting difficult to find good deals locally. I have started to purchase in another state. I recommend either start locally or learn a lot before purchasing outside our area. While you can get higher returns in other states it may not be a good idea until you get some experience.

    Send me a message sometime or shoot me some questions. I'll be glad to help you with what I know.

    1Reply
  • Joe Bertolino
    Investor · El Dorado Hills, CA · Member since 2012 · 1k+ posts · 1k+ votes
    12y
    Take a look at Yuba City. You don't have to buy out of state for cash flow.
    2Reply
  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    12y

    Hey @Anthony Russell Welcome! Definitely start jumping into the community here! Be sure to read through The Ultimate Beginner's Guide to Real Estate Investing to help you get started.

    Finally -be sure to setup some keyword alerts - especially for "Orangevale" so you can jump into local conversations.

    See you around the forums!

    Podcast Guest on Show #92
    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    12y

    Welcome to the site Anthony.

    1Reply
  • Christopher Hunter
    Real Estate Investor · Cypress, CA · Member since 2013 · 877 posts · 94 votes
    12y

    @Anthony Russell Welcome to BiggerPockets.

    2Reply
  • Joe Fairless
    Investor · Cincinnati, OH · Member since 2013 · 2k+ posts · 1k+ votes
    12y

    @Anthony Russell welcome to BP, if Sacramento doesn't work out then I'd take a fresh look at other markets. The main thing you look for (there are many) is jobs - both job growth and job diversity.

    Re: your goal, I had a similar goal when I started out. Then I realized that owning all those homes was too much of a headache. You might not end up feeling this way as others on BP love it. But I didn't want to continue on that path so I switched to multifamily where I buy multiple "homes" in bulk. Makes things more efficient.

    1Reply
  • Anthony Russell
    OP
    Camarillo, CA · Member since 2014 · 5 posts · 2 votes
    12y

    Thank you all for the welcomes and the excellent insight on REI. BP has quite an impressive community. Thanks again. - Anthony

    0Reply
  • Attila Bertalan
    Investor · Antelope, CA · Member since 2014 · 90 posts · 29 votes
    12y

    @Anthony Russell

    Welcome to BP!! Like others have said, educate yourself first and foremost, and this site is the best to do just that! I'm a newbie myself! I'm working on my first flip here in Sacramento with a partner.Should be good.I'll post details when complete! Eventually I want to get into buy and hold properties! I like that you have a goal to retire by sixty, but I feel that having properties all across the US is more of a hassle than a retirement heaven. Why not just learn everything you can about one place that has great buy and hold potential, and you wouldn't mind moving to in case you have to, and just build your Real Estate Portfolio there. It would be a lot less stressful, don't you think?

    But, you know your situation better, so, whatever you decide I wish you the best of luck!

    2Reply
  • Anthony Russell
    OP
    Camarillo, CA · Member since 2014 · 5 posts · 2 votes
    12y

    Interesting perspective @Attila Bertalan

    One that I have contemplated and continue to do so. Diversification is important to me, but I appreciate your point and maybe focusing on just two areas instead of all markets makes more sense. I just need to get into my first deal to appreciate and learn what it will be like. Thanks, and let me know how your flip works outs.

    Thanks again,

    - Anthony

    0Reply
  • Paul Timmins
    Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    12y

    @Anthony Russell

    Welcome. Use specialized housing to get more $ out of local properties and look for emerging markets across the country where equity is rapid and huge. Time to build the foundation below.

    Check out the Start Here page http://www.biggerpockets.com/starthere

    Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

    Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having 60 past ones to catch up on.

    Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

    To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what sides of the city they like/dislike and why. Ask what they see them selling for and what expenses are by category. Ask if they know anything coming up for sale.

    You might consider Niche or Specialized Housing like student housing, vacation rentals, corporate housing or military housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

    Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

    http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

    Good luck

    Paul

    1Reply
  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    12y

    @Anthony Russell

    Welcome to BP community! It is a great place to meet new friends and learn about various aspects of real estate and more. Here are a few recommendations for you:

    Find and connect with other BP members that are in your area http://www.biggerpockets.com/meet

    If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select that person below. He or she will be notified of being tagged so that the conversation will continue.

    Wishing you the best!

    1Reply
  • Jeff Jamieson
    Rocklin CA · Member since 2013 · 88 posts · 12 votes
    12y

    Well said @Attila Bertalan

    0Reply
  • Jaren Barnes
    Real Estate Coach · Chicagoland · Member since 2013 · 502 posts · 101 votes
    12y

    @Anthony Russell welcome to community!

    There are some great tips people gave you above but also check out the file place here on BP. It has some incredible resources!

    Feel free to always reach out if you have any questions!

    1Reply
  • Jeanine P.
    Investor · Sacramento, CA · Member since 2010 · 161 posts · 29 votes
    12y

    @Anthony

    Read, Read, Read.. I can't stress this enough. Good luck with your investing.

    0Reply
  • Vince Beusan
    Laguna Hills, CA · Member since 2014 · 146 posts · 31 votes
    11y

    @Anthony Russell  welcome to BP!

    0Reply
  • Lee Scott
    Investor · Fair Oaks, CA · Member since 2015 · 2 posts · 1 vote
    11y

    Hi Anthony and neighbor. How has your journey been unfolding? Learned or landed anything so far?

    I'm probably only a few miles away but about 1 year behind you. Based on all the tips on BP I've read on BP, I've discovered a couple of cities that seem to work well for out of state investing with some good local resources to guide me. I'd be happy to share their info with you. They've been great to work with.

    Lee

    0Reply
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