Californian who is new to Real Estate Investing

[Matthew Netwon Marquess]

Hi BP People,

I'm a Californian with a background in finance(stocks) who just recently caught the REI bug. I was analyzing my positions a few weeks ago when I realized I should probably start investing in real estate. Since then I have become fascinated in Long Distance Real Estate Investing but I'm still trying to figure out what areas(location) and business(SFH, Multi, Apartment) to focus on.

I have been educating myself with books, podcasts and research over the last month and attended my first meetup a few days ago - which was very informative and beneficial.  I would like to build assets to create a solid passive income stream that can replace my 9-5 income.  I have a goal to own at least one property by the end of 2018.

In the past month I have listened to over 20 BP podcasts and have read or are reading the following books:

Richest Man in Babylon

Long-Distance Real Estate Investing

Rich Dad Poor Dad

The Book on Rental Property Investing

I have been recommended to keep learning and to get busy networking!

Any other advice out there for someone starting up???

Thanks for your time and consideration!

Matt

[Kevin Barnard]

Its my first home and has done better each year , I bought it 4 years ago for 388k valued now at 615k , I'm finally at a place where I could move out and have some positive cashflow , kinda not if we are taking 5% vacancy 5% repairs , 10% cap ex and management fees, but If i solely move out and self manage it will create positive cashflow unless unforseen cap ex .  Right now I'm still " house hacking and living i the small unit and renting the larger to suppliment my income and allow me to pay down pricipal fast and save more for future investments. Its by no means a mid west cash flow property but california does have some serious appreciation that I plan to leverage to make my next move .