All Forum Posts by: Allen Tracy

Awesome, thanks for the tip!

36 year old newbie to real estate investing, my parents have owned a few vacation rentals and their large family owned ranch has branched out and now owns some commercial real-estate.

I'm a visual effects editor working in Hollywood living in Sherman Oaks, CA. My favorite saying is "Do something today your future self will thank you for". I've worked in construction and my girlfriend works for a large paint company so we are both very handy.

I purchased my first primary residence four years ago. I have a two year plan to sell the condo and move into a single family home possibly in Encino.

I currently owe 295k on the condo, two units in the same complex just sold for just over $500k. Between dividends on stock in my family's ranch, rent from my girlfriend, tax returns, overtime worked during my busy season, I have around $20k a year extra after my mortgage and living expenses that I put away. I also have $50k in stocks in my family's ranch that I may move into real estate.

I would like to start investing in real estate for my future, I'm thinking of a buy and hold property in Bakersfield, CA where my parents live but am open to ideas. It's a 1.5hr drive from me and much cheaper than Los Angeles but I haven't thoroughly researched the area yet. I'm also interested in the idea of a multi family property but not living in it myself.

There's a chance that I'll need all of the cash from the sale of my current condo, plus the ranch stock, plus my savings over the next couple of years to get into a decent single family home for my primary residence so I may not be able to invest immediately.

I'm am very patient so I'm willing to put off investing until a few years after I get into a single family home and have rebuilt my savings. I figured it's never too early to start learning and researching.