Recent Orange County Investor Looking to Make Moves & Connections

Recent Orange County Investor Looking to Make Moves & Connections

Attorney · San Diego, CA · Member since 2017 · 17 posts · 4 votes

Hello everyone! I'm a real estate / real estate finance attorney that just moved from Charlotte, North Carolina to Orange County, California.

I currently own two buy and hold and looking to buy a third. I have househacked each time. The first one is a duplex in Morgantown, WV, which I lived in half and rented the other. Now, I have a property management company taking care of it for me. I bought another single family home in the booming Charlotte, NC market, which I lived in up until my recent move last month. I moved to Orange County, CA and rented my 4 bed, 3 bath house in Charlotte. I'm currently crashing with a friend until I figure out my next move!

Obviously the SoCal market is a beast, so I'm not looking for a miracle. I'd like to househack my way into a multifamily property anywhere between Long Beach and San Clemente. I work in Costa Mesa, so that's about as far as I'm willing to commute. My perfect househack would have 4 units, under the FHA threshold ($636,150), would need some work, and be a reasonable appreciation bet. The closer to Costa Mesa and the water, the better. I'd also consider a single family "live and slow flip." I'm willing to slum it and/or live through some renovations to avoid paying rent again.

Long term, I'd love to get into some flips locally in SoCal and buy and hold cash flowing properties from afar. The "subject to financing" is also an interest and being in finance, I think I could pick it up pretty quickly. Even though I don't hate my job, my end goal is to achieve "financial freedom" and have the option to walk away at some point.

I'd love to meet some folks in the area and I'm open to any suggestions and information on how people in this market invest in real estate. Thanks and I look forward to being part of the BP community!

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Joe HomsBusiness Member
Flipper · Mission Viejo, CA · Member since 2014 · 2k+ posts · 1k+ votes
9y

@Seth Bradley 

Welcome to BP. There is a location where like minded investors gather in Lake Forest, California every month that you should check out.

If you would like to chat before then and talk about investing let me know. I am in Mission Viejo and can get together at my local Starbucks. Your ALL in cost is only a cup of coffee.

I am currently flipping homes in Orange County and teach others how to do so as well. I started a wholesaling group and spend my Saturday mornings with them.

I am looking for my next purchase at the court house steps, while I am working on a few more.

I don't recommend buy and holds in California now and the house hack your looking for will put you in D class area.

Good Investing...

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  • Joe HomsBusiness Member
    Flipper · Mission Viejo, CA · Member since 2014 · 2k+ posts · 1k+ votes
    9y

    @Seth Bradley 

    Welcome to BP. There is a location where like minded investors gather in Lake Forest, California every month that you should check out.

    If you would like to chat before then and talk about investing let me know. I am in Mission Viejo and can get together at my local Starbucks. Your ALL in cost is only a cup of coffee.

    I am currently flipping homes in Orange County and teach others how to do so as well. I started a wholesaling group and spend my Saturday mornings with them.

    I am looking for my next purchase at the court house steps, while I am working on a few more.

    I don't recommend buy and holds in California now and the house hack your looking for will put you in D class area.

    Good Investing...

  • Attorney · San Diego, CA · Member since 2017 · 17 posts · 4 votes
    9y
    Thanks for quick reply Joe. As a matter of fact, The friend I'm crashing with is in Mission Viejo as well so it shouldn't be too hard to meet up. I'll contact you so we can set something up. Thanks!
  • Rental Property Investor · Mission Viejo, CA · Member since 2014 · 230 posts · 113 votes
    9y

    @Seth Bradley Welcome to BP!  I'm also in Mission Viejo but I am strictly an out-of-state multifamily investor.  If you'd like to grab coffee sometime, I'd be more than happy to meet you locally.  Just PM me.

  • Attorney · San Diego, CA · Member since 2017 · 17 posts · 4 votes
    9y
    Hi Bill Manassero I'd love to grab coffee sometime to discuss out of state multi family. I'm definitely looking to continue doing such as soon as I lock down my living situation here in SoCal. I'll send you an email so we can link up.
  • Karen MargraveBusiness Member
    Moderator
    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
    9y

    @Seth Bradley Welcome to BP! This is a great place to network and learn. You're right, so cal is a beast for investors. We build spec new construction and are finishing up a duplex in San Clemente, that is pre-sold, and have a house on the market in Capo Beach. 

    The house in Capo Beach is 3400 sq. ft. 4/4, and in an area of homes that across the street on ocean view blufftops  with a celebrity sports figure across from us, and then condos etc. Our house is listed at 2,049,000 with rooftoop deck views, and the ones on the bluffs go for 5+ million (unless they're tear downs). Of course the further from the ocean the cheaper the house and larger the lots. 

    For investors, vacation rentals can actually cash flow with enough into them, though you need to check with each City as regulations are constantly changing. 

  • Surveyor · Hemet, CA · Member since 2015 · 797 posts · 112 votes
    9y

    Welcome to bigger pockets! I will be in Tustin Santa Ana Wednesday Thursday if you are free I may be meeting others feel free to reach me I have some investor questions to.  Nine five one six nine two six eight five four. Also inviting you to our meet and greet this year at our commercial property in corona. Should be fun!

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