All Forum Posts by: Andrew S.

I found a few of these around Toledo, OH. I’m curious, how do you find the value of the land itself?

Aspiring investor here. My goal is to buy my first BRRR within the next 3 years, investing long distance in the Midwest.

On Zillow I have seen some houses in decent areas with fire damage or needing structural work going for under $20k, a few for as little as $5k! That seems like a laughably low price.

Would you buy a house with fire damage?  How would I go about getting a ballpark estimate on a full gut and remodel before buying a property when I’m investing out of state?

Hi Brian!  Good on you for getting into building your wealth at such a young age!

It sounds like your first step should be to get your own house in order in terms of finances.  My recommendation is to make a budget and eliminate wasteful spending.  You will have to sacrifice some things you enjoy doing now upon the altar of your future success.
Do you have debt?  Pay it off as quickly as possible.  Can you move to a cheaper apartment?  Drink Starbucks every day?  Switch to Folgers or stop taking caffeine entirely.  Account for every dollar in and out of your bank account.  If an expense is not strictly necessary, eliminate it.

Volunteer for overtime at work, maybe even go for a promotion.

If you’re on Reddit, r/personalfinance has some excellent resources for budgeting.

Good luck!

I'm Andrew.  A 34 year old, married building maintenance engineer in San Francisco, CA.  My wife and I bought our first house the traditional way last year in Sonoma County, CA, (before I heard about RE investing) and we will be renting it out at the end of this summer.  With the mortgage and property taxes, we will still be paying about $700/month on it even with rent money coming in, but I guess that's the cost of starting out in California.

I want to make money in real estate, one of my first jobs when I was 15 was working under the table for a family friend's property management company, (They're not around anymore, I checked.) and I've spent the last 6 years maintaining commercial properties.  I think I know a thing or two about buildings, but I am brand new to investing.  

I'm especially interested in the potential of the BRRRR strategy. I am looking for feedback on my list of goals, and advice for a new investor to start investing outside my home state.

Here are my goals:

Short Term, (1-3 years): (Starting with around $20k in savings.) Save at least $30k per year. BRRR at least 1 property and build at least $100/month in passive income by year end 2026.

Mid Term, (3-5 years): BRRR at least 1 property per year. Build at least $1000/month passive income by year end 2028.

Long Term, (6+ years):  Own at least 10 properties in at least 3 US states.  Build at least $10,000/month passive income by year end 2030.

Hi all!  I'm Andrew Sanborn, an aspiring real estate investor living in San Francisco, CA.  I'm looking for connections for guidance and strategies for making my first investment.  As a Building Engineer, I know how to take care of buildings, and I want to learn how to put my skills to work on a property of my own to provide more value to my family and my community.

One of my first jobs when I was 16 was as a helper for a property management company in Hawaii.  Since then I've earned a degree in Political Economics from UC Berkeley, spent a couple years teaching English overseas, gone into the building maintenance trade for stability and personal growth, and recently got married!  I like taking care of buildings, and I'm looking for ways to make smarter choices with my free time and my hard-earned cash.

I look forward to working with all of you!