All Forum Posts by: Allen Gross

@Kyle Smith

Sounds great! I smell the start of a mini-REIA in Vacaville! I will be talking to you soon!

Ok, to avoid Analysis Paralysis I am trying to take 1 action every single day to move towards my first SFH or MFH deal. I have met amazing people so far on BP, all of which have offered to help me in my journey and I am beyond grateful.

NOW, I realize that one major piece of any team I build will be a solid and sturdy Accountant. So here comes my question:

What 'type' of Accountant provides the most expertise to an investor's team, especially a new ignorant investor? 

I will make an assumption it is an Accountant very much experienced in tax law?
So am I looking for someone with experience in Financial Accounting and Tax Accounting and Investing Accounting? 

That sounds like 3 specialists rolled into 1 person. (yes I googled 'types of accounting').

Any tips or tricks to point me in a decent direction?

Thanks!

-Allen Gross

@James Niemeyer Thanks for the warm welcome! Yes, this place is amazing!

@Kahleb Kelsey Great to meet you. Yes, lets definitely get together and talk, you have already taken the first step and io nvested, so you are a bigger person than me! I can definitely help you in regards to any questions you have regarding construction and especially electrical!

Thanks for the info.

I realized after hearing a 'QUUUUUIIIICKKK Tip' that I never did an introduction on the forums even though I have made 1 or 2 posts. Here goes:

I'm Allen Gross and I live in Vacaville, California.

 I have not chosen my market yet, but I have been actively learning about Indianapolis, Indiana, and or possibly Tulsa, Oklahoma. I focused on these areas due to the market pricing and wanting to not eat a heavy loss as I make a few learning mistakes.

I am a Certified Electrician in San Francisco, California. I am very familiar with construction and run crews and do about 98% commercial TI(tenant improvement) work in the city high rises. Making money by finishing ahead of schedule and under budget is how we live. (and stay employed) However, construction is hard on the body, and I am just an Electrician, not a Rocker or Iron Worker.  Anyway, I am here because I have a great retirement coming, but I have decided to take more control of my life and find a way to retire before I am in my early 60's and probably beat to s4it. 

I came across the Bigger Pockets podcast after finding out about Mobile Home investing and a google search which led me to the bearded Brandon Turner and I got hooked. I have since started listening to the podcast from episode 1 and am now at episode 30. I have listened to about 20 others in the higher counts but decided I need to gain a better base of knowledge so I decided to stop and start fresh at episode 1. ( I do not regret this)

I have already read Rich Dad Poor Dad. (since EVERYONE says it is their favorite) I have about 20 books stacked up to read and can't find time to read or do anything else but study for my real estate license and listen to podcasts. Yes, BRANDON I am doing my real estate license. I'm not sure if you ever did, but you should. That's what most of them say.....

Fun fact about myself:
I am 1 inch shorter than when my youngest daughter was conceived and then born....motorcycles are FUN and apparently dangerous, but I can't wait until I can send my two girls off to college and buy another bigger one....2 wheels are life! Well not at the moment, but someday, again, soon!

I want to throw in that I can't believe the amount of information and the environment I have found here at Bigger Pockets, FOR FREE! Thank you, Josh Dorkin, and your team for creating this! Simply amazing!

I have been looking at Indianapolis, Indiana quite a bit to be my market as a strictly out-of-state investor. However, I realize I need to study markets to decide if they are appropriate for my future goals.

Now, for my first multi-family investment home I am being stingy and not wanting to invest more than 100,000, max 200,000. I am 'older' and am worried I will lose a lot of money to learn some valuable lessons. I am more interested in possibly losing less money to learn an equally valuable lesson. In other words, I am scared to take the plunge.

The market I work in (San Francisco, CA) is not a market I want to invest in for cash flow and to get my feet wet.

Anyway, I have been searching and have come across Tulsa, Oklahoma.

Now I have NEVER been to either city or even state.

So, I am looking at overall information on each area and found a comparison. Tulsa vs Indianapolis vs USA

Now, I would love to link the website I am looking at but I don't want to break any rules. HOWEVER, I read this and interpret I am not breaking rules :
Link to Quality Sources - Linking to news articles, blog posts, or web pages are great when it adds to a conversation. Additionally, linking to other BiggerPockets forums posts, articles, or blogs is highly encouraged. However, as we'll cover below, you cannot link to your own content. To link to a url in the forums, use either of the following short codes: [url] http://www.website.com/example [/url] or [url=http://www.website.com/example] Linkable Text [/url]

Seeing as this is not my site, I HOPE this is ok.
[url=https://www.bestplaces.net/com...[/url]

So I created a google sheet to quickly visualize where the money in each city lies.

https://docs.google.com/spread...

1. So what I did is make a spreadsheet that shows what 'rent rate' may be available based on income and number of residents at that income level. (rent rate set at 30% of gross income average)
   
   Now after putting the time into the spreadsheet I can see both cities are almost neck and neck. However, is this just showing me that these areas have a high level of lower-income households. Is this something I should actually pay attention to? Is this a waste of my time?
2. I can see that there are over 100K of the population making less that 15k in both cities and they are the largest segment in each city. I can also see, if I set tenant requirements to be 30% of their gross income, then $350 dollar rent is not something I can go after (unless I do section 8).
3. Is this important to know? Is this valuable information?