New Member in California

[Chris Ghemm]

Hi Everyone,

I'm a new member from San Diego, California.  I stumbled upon this website when I was looking for resources on how to rent my house. I went to Amazon and look for books on rental property and landlording and the first book I picked is "How to Rent Your Hose" by Brandon Turner.  

My first purchase was 100% finance at the peak of the market in 2005 and lost it into foreclosure. In 2011 with my wife's good credit, we were able to buy a second home.  We are both familiar with Robert Kiyosaki and Dave Ramsey's teaching. We have applied Dave Ramsey's teaching since 2011 and on March 2016, we will own our home free and clear.  

We are now going into baby steps #7 of FPU and would like to incorporate real estate into our wealth building. We would like to learn more about buy and hold strategy and build slow with at least 70% - 80% LTV for each property. SFR in San Diego area is expensive so it will be harder for us to begin. We look at other state but my wife is concerned about dishonest property managers. We will be going through the forums as well as the podcast so we can learn from experience of BP members who were able to make it on expensive cities as well as from BP members who was successful in going out of state.

Thanks!