All Forum Posts by: Alberto Izarraraz

Hi Everyone,

I'm here at San Antonio and a bit brand new too. I bought a home for myself which was terrifying but it is a personal one. I then really started looking into Bigger Pockets which makes me wish I would've looked up some numbers a bit more. However, I'm here and want to start my journey in real estate investing.

I would really love to get out of the rat race. So hello to everyone and I look forward to getting to know more people here.

Best,

Alberto

@Nicole C. Thanks for the ideas. I always had the idea of buy and hold and this is mainly because I have a full time job. However, flipping might be another way to get another revenue stream while I work and have a full time job. Like always I can sacrifice time and put in some sweat equity in a place.

I do like the idea of buying a note. I have been looking into it now but I do not know much about it. So I will research some more. But for all purposes it seems like you are the bank and you get a certain rate while the person pays it back. I would have to do this at micro level.

@Abraham Arteaga your scenario is exaclty what I would like to accomplish. However, with anything you need 20% down if you are not living in the location. That's why I was thinking of the FHA route but like you mentioned a lot of it cuts your cash flow. I'll have to figure out another funding way.

Hi Everyone,

I've been reading a lot about investing here and it has been great. The part that is difficult is my location.

My current issues are these. I only have $13k saved up and I live in a very expensive market, Los Angeles. In other places, you could just go into a worst neighborhood and find something but here that's not much of a possibility.

Now, here is what I perceive to by my options:

1. House Hack - Get an FHA that allows 3-5% down, find a condo in $300k range (most likely only 2 bedrooms) and rent out a room. This seems to be taking into a lot of debt and I might be paying about $1000+ myself a month after renting out a room. I currently pay significantly less.

2. Look really outside the market. I'm considering the Phoenix area. Save up a bit more money and do the 6 hour drive to Phoenix whenever I need to be more hands on in managing. I'm sure there are insurance, property management fees and I'm still trying to figure if it is worth it. But property is between $80 to $120k.

Is there a better option I am missing?

Also, getting through Millionaire Real Estate Investor. Is there a good second book that people recommend for a beginner especially in my case?

Thank you in advance,

Alberto

@Tyler Roicki Thank you. Still learning but when I get a good base I'm sure I'll be talking to you.

Hi there,

Congrats! I'm just starting to learn about investing. This is great inspiration.

Question: did you live in Fresno when you started? I ask because I live in Los Angeles so I'm looking away from the main city to invest and Fresno was one of those cities.

Thank you @Erin Morrison ... I will definitely reach out once I get through some research.

@Paul Timmins Hi Paul. I know it is very late but thank you for the welcome. I am now looking into REIA clubs. I appreciate the welcome portion.

Hi,

I'm new to this and thought I'd join to learn more about investing in real estate. I haven't gone through it all so right now I'm here to just observe and absorb any knowledge  I can.

Have a great day everyone.

Alberto