New Member from San Diego, CA

[Daniel Spaizman]

Hey all,

I'm Daniel Spaizman, a newbie to both Bigger Pockets and to Real Estate Investing.  I have lived in San Diego for 3 years (grew up in the San Francisco Bay Area) and am looking to move outside the comfort of a W2.  More specifically, I have a goal of using Real Estate Investing (Buy and Hold) to generate enough cash flow to move towards financial freedom.  Hoping to make my first purchase in the next 6 months!

Currently, I have great experience in engineering (power systems engineer by trade), but absolutely none in REI. I am looking to build out a network filled with quality, knowledgeable, and supportive folks and hope to return the favor.

I was informed of BP by a gentleman that I met on a flight from San Diego, CA to Oakland, CA and cannot thank him enough.  The podcasts and website, alike, are filled with awesome material for both new and seasoned investors.

Thanks for taking the time to read this and feel free to drop me a line!

-Daniel

[Kody Fordyce]

Daniel,

Welcome to BP! This is an awesome resource for new investors and seasoned alike. Are you looking locally or nationwide? Are you looking at flipping or Buy & Hold? I have experience in both local and in the midwest. Local is great because you can oversee the project from start to finish, although your acquisition cost is going to be high in San Diego and there are a lot of fish in that sea already. I live north of you in Portland and have run into the same issues. That is one of the main reasons I have mostly transitioned heavily to the Midwest ( Indianapolis, Oklahoma City, Kansas City, Jacksonville MS etc...). You are able to buy turnkeys for 20-30k down that will cash flow on average $300 /mo after "The Big 6" (mortgage, taxes, insurance, vacancy, management, maintenance) have been paid. You can then refi after 6 months getting about 95% +/- back out to move on to the next. We have also found as a company to only work with companies that have everything in house ( acquisition, contractors and  management) I stress management because that is crucial, as soon as they farm it out, it can lead to many headaches. Please fill free to message me or call me if you have any questions. 

Kody