21, Educated, & Ready to start

[Jonathan Wu]

Hi Bigger Pockets community,

Jonathan here, I first started listening to the podcast during the beginning of Covid and now I'm 100 episodes in. This is my first post here actually and I have a lot to say. 

So, I just wrapped up my undergraduate education at University of California, Irvine this December. Finished in 3 years, majored in Business Administration: Finance and accounting. I'm originally from San Diego, moved up to Orange County for college, and now back down here since March of 2020. 

I have some good equity built up in my stock investment portfolio which I started at an early age, fair amount in cash saved, and 0% interest debt due to student loan pause. I'm pretty knowledgeable on the different parts of the real estate business ranging from the agent's side, the debt side, the type of loans, the methods of purchasing, BRRRR method, Pro-formas, valuations, and overall general idea of southern California markets. I was originally thinking about single family homes, potentially a 3/2 and adding value through a rehab and renting it out, but I honestly don't know where to start. In an ideal scenario I would like to work with an investor to gain hands on knowledge about the whole process, but I know the importance of action and doing the work hands on.

Basically, my questions are: 

How would a young, hungry, and ambitious investor like myself start? I've looked into markets like Arizona and Texas as possible alternatives; Would it be a good idea to potentially start prospecting over in those areas since the real estate market is developing and the homes there are cheaper than San Diego? What would be the best course of action and best use/velocity of my money? 3.5% FHA loans to get a condo; Rehab the condo to rent? Traditional 20% down in a different market?

Thanks for all your time, sharing your knowledge, and helping a young lad begin his journey!

Jonathan Wu