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Updated over 6 years ago on . Most recent reply

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2
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1
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Daniel M.
  • Sacramento, CA
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Votes |
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New Investor in the Sacramento Area, Let's Chat!

Daniel M.
  • Sacramento, CA
Posted

Hello BP community!

I'm originally from the UK and moved over here about 4 years ago. I'm about to hit 31 and starting to plan my way to financial freedom in 10-15 years. I have a very good credit score and a good job which pays enough for me to live in Sac while putting some money into savings.  I currently work 55-65 hours M-F with weekends off.

My plan currently is to invest in multi family properties to bring in a bit of cash flow while also building some equity in them. I would then cash out the equity to move into flipping properties to increase the amount of hard cash I have on hand which I can then re-invest into more doors. I think my ideal final exit strategy would be to consolidate all of my equity into 1-2 large MFHs which  bring in my monthly income goal.

I would love to invest close to home however i'm not sure if it would be the right move due to the high property values in the northern California area. I am looking further afield and have seen a few opportunities in Yuba City, Oroville, and other smaller Nor Cal cities. I have found some properties which would rent for 1% of the purchase price. 

I also have several family members in the St. Louis area so I feel somewhat comfortable with that area and have been looking at the possibility of out of state investments in the Midwest. If I was to move on OOS investing I would certainly plan on multiple visits to the area while building a reliable team on the ground.

I'm currently absorbing all of the information I can get my hands on, so i'm sure i'll be posting lots of questions. It's my goal to buy my first property at the start of 2019 and build from there.

Most Popular Reply

User Stats

807
Posts
815
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Pratik P.
  • Flipper/Rehabber
  • Sacramento, CA
815
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807
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Pratik P.
  • Flipper/Rehabber
  • Sacramento, CA
Replied

@Daniel M. Welcome!

Sounds like you already have some good direction on your strategy. 

I live in midtown Sac, let me know if you'd like to get coffee sometime. I do wholesales/flips but am looking to get into multifamily soon, hopefully 2019 like you.

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