Newbie from Los Angeles, California

[Mike Lopez]

Hello everyone!

I'm Mike, a newbie from LA. Currently I work in the entertainment industry for a advertising agency, cutting trailers, tv spots and other sorts of content for movie, tv shows, etc. Sound fun right? watch movies for work. It was at first but I quickly found myself putting in a lot of hours to move up (to an editor position) and I'm burning out.

I found BP after a youtube binge and was instantly hooked. I signed up for the 90 Day Challenge seminar, loved it. Signed up for BP Pro that day and jumped in head first. That was a month ago and in that time I have read HOW TO INVEST IN REAL ESTATE, HOW TO INVEST IN REAL ESTATE WITH NO MONEY DOWN, THE BOOK ON RENTAL PROPERTY INVESTING. I might add I have not read a book in the last 4 years since i graduated from college so I don't know how this person is.

My current goal is to purchase a property in LA that I can house-hack. I'm meeting with a friend this weekend who is actually a realtor to get all my questions answered. After that, Im hoping to invest out of state where cashflow is actually possible. Apartment complexes look interesting, but I think I'll stick to multifamily/BRRRR units.

If you read this far, you are my MVP (Real Estate Rookie reference :P)

Thank you and good luck on your journey!

[Jacob Repreza]

Hey @Mike Lopez! @Jon Schwartz is correct. In both the wealth aspect and the realtor aspect. 

As a realtor the stuff I show my family will be very different from what I'm looking for on the investment side of things. And the most important thing in real estate is always the numbers. In Los Angeles and most of california in general it comes down to sucking up the large down payment, low to no cash flow and waiting for appreciation to do its thing. 

Now this is honestly the easiest way to become wealthy. Your house 30 years from now will be paid off and worth a pretty penny but there's a lot of other expenses that come with a home. My best suggestion would be to go back to the other times this question has been asked. You'll be able to see every angle and think of stuff you wouldn't have thought of.