Newbie in Los Angeles

[Matt F.]

Hello everyone,

I’ve been checking out this website for the past couple of months and figured it was time to introduce myself. BiggerPockets is clearly a great resource for real estate investors with any strategy and of any experience level.

BACKGROUND:
I graduated with my B.B.A. in Finance at 19 years old and was fortunate enough to find a decent paying job right out of school as a business analyst.
While pursuing my degree, I interned at two small real estate investment partnerships. I didn’t really have a specific job title -- I just did whatever the two partners needed, and shadowed them.

I had the opportunity to review bank notes, purchase agreements, leases, etc. I was also responsible for keeping QuickBooks current, monitoring the performance of the portfolio (COC return, operating expense ratios, etc.) and sending that information back to them, etc. Just a bunch of random things really, but it was all beneficial, in my opinion.

PRESENT:
I save about 38% of my take-home pay, which will be used as my initial investment capital once I’ve saved enough. I can potentially save more by getting roommates when my lease expires in August. I don’t have any debt – no student loans, no car loans, no credit card balances, etc. but I don’t exactly have a huge net worth either.

Right now, my plan is to continue learning as much as possible and connect with other people in my area. I want to start establishing relationships with lenders and perhaps get some hands-on experience in the local market by assisting someone who is already successful on their deals.

FUTURE:
I plan to make my first (and perhaps second or third) investment before this time next year. My long-term strategy is buy-and-hold for the cash flow, however, I am somewhat interested in flipping at first in order to increase my available capital if I can find a trustworthy and experienced partner.
Ultimately, I want the primary source of my income to come from investments in real estate and private businesses.

Although I’m pretty much a silent reader for now, I will join the conversation as I feel like I have more to contribute.

Thanks to the active members for sharing their knowledge, and good luck to everyone on their endeavors!

Matt