Newbie from Highland, California

[Clifford Adikuono]

Hi everyone, my name is Clifford Adikuono :) I'm a brand new real estate investor who plans to buy and hold single-family homes and small multifamily properties for the middle-class in Southern California. I realize that the Southern California market is a bit tough so I'm open to investing outside of California. I have zero experience in real estate investing. My only real estate experience is in tax compliance for a few residential property investors and mortgage backed securities funds. I'm a CPA licensed in California since 2011 and I currently live in Highland, CA, which is a part of Southern California. 

I'm currently a Financial Analyst nearby Highland and I have almost 10 years of tax and accounting experience. I still perform tax and accounting work on the side. I wish I have more tax experience in real estate but I suppose I'll be gaining more as I invest myself and become more involved in the BP community :) 

My goal is to acquire 70 rental units in 7 years. My mission is to provide safe and healthy homes and achieve financial independence. 

I found out about BP through a Mad Fientist podcast where @Joshua Dorkin was a guest. Ever since then, I became hungry and thirsty for real estate knowledge. I signed up as a pro member of BP, joined a webinar by @Brandon Turner, analyzed a potential deal, have been listening to 1 podcast per day for 6 days a week, have been reading BP articles, started reading BP's The Ultimate Beginner’s Guide to Real Estate Investing and Building Wealth One House at a Time, bought 4 BP books, created my BP profile, talked with a California real estate agent, talked with an Indiana real estate agent in referral, talked with a friend who's a real estate investor, asked friends for real estate agent referrals (even out of state like Nevada, Chicago and Tennessee), etc.

Bottom line is I'm super pumped about real estate investing :) Just in case anyone is curious, I'm looking for a team of mentors, real estate markets outside of California markets, real estate agents, mortgage brokers/loan officers, real estate attorneys, property managers, contractors, insurance agents and handymen. I understand that this team will grow organically with time, diligence, perseverance and creative thinking :) 

Thanks everyone for reaching the end of this post! 

[Logan Allec]

Hi @Clifford Adikuono.  Long time no talk.

SoCal can be a tough nut to crack for newbies.

Have you considered an owner-occupied small multifamily for your first deal?

You only need to put 3.5% down, so cashwise it won't get in the way of other real estate goals you may have.

My first deal was a 4-unit up I bought with FHA financing (3.5% down) in Santa Clarita.

I lived for free (as opposed to paying rent) + enjoyed cash flow + built equity. It was a great investment (and still is).

Good luck!