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Updated about 4 years ago on . Most recent reply

User Stats

18
Posts
3
Votes
Eric Wong
  • Investor
  • Los Angeles, CA
3
Votes |
18
Posts

First post! Los Angeles first time investor

Eric Wong
  • Investor
  • Los Angeles, CA
Posted

Hello everyone, my name is Eric and I’ve trolled the forum enough and listened to enough podcasts to build up the confidence to dive into my real estate investment journey and start the new year on the right foot!

My wife and I bought our 1st personal home in 2018 in a suburb of Los Angeles county (Covina, CA) and have built up enough savings (and equity in our home) to start the ball rolling, diving into the rehab/flip side of the business.

The market here is tough to find deals, especially on the MLS, but not impossible!

I'm currently building my team and working on funding, and may have found a property or 2 (one thru MLS, and the other "driving for dollars"), and will look to combine personal cash and possibly a HELOC as a down payment for either a traditional loan or loan thru a portfolio lender.

The home I’ve found driving for dollars is currently delinquent on taxes, but that’s all I know so far. Property seems to be vacant, so my question is...What are the best options in finding the owner, and whether the property has any liens on it? Any suggestions or advice will be greatly appreciated!

Thanks for reading my long winded intro!

Most Popular Reply

User Stats

676
Posts
550
Votes
Axel Meierhoefer
  • Rental Property Investor
  • Escondido, CA
550
Votes |
676
Posts
Axel Meierhoefer
  • Rental Property Investor
  • Escondido, CA
Replied

@Eric Wong Congratulations for starting your investment journey with the new year. I live in san Diego county and my daughter is in Aliso Viejo. I am curious what made you decide to go into the flipping approach as your strategy?

Do you have a plan and goals that describe the outcome you are aiming for?

I am asking these questions because my strategy is totally different. Everybody has to develop their vision and then pursue it. There are so many ways to be successful in real estate. As David and Brandon and many others always say: "Its most important to get started and take action". 

  • Axel Meierhoefer
  • Loading replies...