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Updated over 6 years ago,
New member from Southern California -- Looking to invest locally
My name is Pouyan. I'm new on Bigger Pockets but have some experience investing in notes for hard money loans (non equity), relatively extensive remodeling single family residences including my own and managing multi family properties for my family in Southern California. I am looking to make the move into the world of real estate investing for myself and am eager to learn. I've lived all over including New York City (Manhattan, Bronx, Long Island (Nassau county), Boston Massachusetts, Atlanta Georgia, Southern California (Los Angeles, Orange county and San Diego) and hope that is a strength of sorts.
Investment Goals:
I currently live in the Orange county California and work in inland empire and am looking for opportunities in and around that area. I'm also interested in learning about investing in remote locals but would like to stick with southern California for my first investment if possible given my contacts in the area (contractors, plumbers, electricians......).
Specific Goal: I'd like to buy my first investment multifamily or single family property within the next year which would be cash flow positive (possibly after a renovation) and allow me to take depreciation especially given the high tax rates in California.
Currently Working On:
Step 1: Identifying properties that are or could be cash flow positive with some renovations.
Step 2: Finding out what opportunities exist in other parts of the country and learning about property managers who would care about my bottom line at least half as much as I do in those areas.
Step 3: Buying a multifamily property within the next year.