Rental Property Investor · Burbank, CA · Member since 2019 · 8 posts · 2 votes
Hi All!
My boyfriend and I have just started the journey of getting into Real Estate Investing!
A little bit about us; my corporate job shut down their US office this summer so I found myself without a job and a search for purpose/passion in my life. I am now studying for my Real Estate License, listening to several investing podcasts, & currently reading "The Book on Rental Property Investing". My boyfriend works in the film industry building sets & props and used to help build houses before that.
Our goal is to first find a duplex in the LA area to renovate and house hack. After that we would either like to invest in bigger rental properties (in state or out of state) or get into house flipping. Probably both down the line, but we haven't quite decided what the second step will be yet.
I am looking forward to making connections and learning a lot from this community!
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
6y
@Kate Bogart welcome to BP. Don't worry about the second step. Just do your best to successfully complete your first step. You will learn so much on your first deal it will help you decide a path for the future.
Investor · Pasadena, CA · Member since 2015 · 269 posts · 189 votes
6y
Welcome @Kate Bogart! I love house hacking. I started w/ a 2br condo when I was in college and so many of my other real estate friends started that way as well.
Please let me know what I can be a resource for. I do like Burbank and North/East Hollywood quite a bit for the long run as the streaming war heats up with Netflix and Disney taking up more offices creating more jobs that will help lift the residential market as well.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
6y
@Kate Bogart welcome to BP. Don't worry about the second step. Just do your best to successfully complete your first step. You will learn so much on your first deal it will help you decide a path for the future.
Rental Property Investor · Burbank, CA · Member since 2019 · 8 posts · 2 votes
6y
@Jason Hsiao thanks Jason! Very good point about Disney & Netflix! I kind of ruled my area out right off the bat bc of price but maybe I’ll give it a look!
Rental Property Investor · Burbank, CA · Member since 2019 · 8 posts · 2 votes
6y
@Ned Carey thanks Ned, I really appreciate your advice. I was worried about not having that 10 yr plan all figured out but I think you’re right! After the first try I’ll get a better idea of how we want to move forward.
Investor · Pasadena, CA · Member since 2015 · 269 posts · 189 votes
6y
Have you looked into or consider FHA loans @Kate Bogart? If you are house hacking that could be a good way to put down only 3.5% instead of the traditional 20
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
6y
@Kate Bogart I am reminded of the boxer Mike Tyson's quote "everybody has a plan until the get punched in the face." You may get hit in the face a few times on your first deal. But those will be learning lessons, that will help you on future deals.
Investor · San Antonio, TX · Member since 2019 · 576 posts · 307 votes
6y
Hey Kate, have you considered doing anything out of state? After you do your first duplex house hack you should consider San Antonio, Texas. Great market for California investors and you'll be able to get quite a few properties under your belt with how inexpensive they are.
Real Estate Agent · Post Falls, ID · Member since 2016 · 1k+ posts · 1k+ votes
6y
Hey @Kate Bogart, welcome to BiggerPockets community!
Your first post was 6 months ago. How are you now? Hope you are safe and had your license! Anyway, great to have you here in BiggerPockets site and you are in the right place to connect with other Real Estate investors. Just keep connecting and build your profile/network and never stop learning. Sharing with you some of my recommendations too:
1. Subscribe to the BiggerPockets Money and Rookie Podcasts
2. Attend the FREE WEBINARS
3. Attend a Meetup in Your Area
4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy
5. Peruse the forums! Ask questions! Answer Questions!
Good luck in your REI journey. Please stay safe and healthy for now. See you around the forums!