All Forum Posts by: Austin Nieves

Hey BP Community!

I want to get my real estates license but unsure for which state. I currently work a full time job in California and own two investment properties in Arizona. I plan to continue investing but am unsure if it makes sense to get it in California if I am most likely to look for investment properties out of state. 

Should I get a license for where I live or where I am most likely going to invest?

Hey Jack,

Welcome to the BP community. I am currently investing out of State in Tucson and have found that it is a great market. I have done much of my own research and studies from the Bigger Pockets podcasts, books, and forums, which is a great place to start. I am also working with @Scott Autenreith from The Apex team who has walked me through the process, found a great deal for me, and hoping to close on 2 fourplexes by the end of the week! 

@Robert Herrera Thank you so much for your advice. We are definitely going to have terms signed and on paper incase things do go south (which we don't intend on). Fortunately we have a great family but you are absolutely right, things change when money is involved.

@Joe LaFleur Can you explain to me further the shotgun clause?

@Krizelle Pum We are basically neighbors. I am in Costa Mesa and these properties are in Arizona. I am lucky enough that both of my parents are lawyers (not RE but my dad does construction law and has some connections) and have been able to assist us along the way. We have created an LLC but also have heard both sided of that argument. Excited for the opportunity but want to make sure everyone is on the same page.

I have teamed up with 4 other newbies(2 brothers and a cousin). Each of us works full time and are excited for the journey ahead. We are currently in the final stretches of escrow and hoping to land two 4-plexes. What are some do's and don't when it comes to partnering on an investment property. We are family but want to make sure we have a solid business foundation and professional boundaries. Any and all advice would be much appreciated.  

I have not personally been inside the property yet but my agent has walked it and has sent many photos of the interior and exterior. All of the units are occupied but definitely need to get in contact with the property manager and get an idea of what the tenants are like. Thank you @Jason D. and @Christine Kankowski I really appreciate your words of wisdom. 

Hi BP Community. I have been listening to all of the podcasts and have read two of your books. I am 25 years old and have made the leap of faith and am currently under contract on an 8 plex with some family in Arizona (I live in Newport Beach CA). The numbers were great going into the deal but I am curious what crucial steps I need to take while being under contract to make sure everything works out. We have completed the inspection and now waiting for the response from the selling agent with the list of repairs that we have requested to be repaired. Aside from the inspection and being pre-approve is there anything else that I can do?

Any advice or tips would be much appreciated! 

Hi BP Family.

I am working with a team that has already helped my parents purchase a couple properties in the Tucson area. I am partnering with both of my brothers who live in Los Angeles and San Francisco and work full time jobs. I have partnered with them to help with the down payment for a buy and hold property. We are looking for a multi-family property under 200,000 with a 8% cap rate and have been on the hunt the past couple of months. We have been under contract once and have had a couple other good opportunities but not the right one yet. Our realtor is taking into account expenses, mortgage, taxes, repairs, vacancies, property management fees, and everything else that needs to be considered.  I am doing my best to learn about industry and put myself in a position to build a portfolio. From the little that I have given you, I am curious what you think about the numbers that I am looking for and what i can add or change to my search to best set myself up for success.

Thank you everyone!

Thank you so much for reaching out. I may have some questions on this journey and appreciate the support.

Best,

Austin

Hi all! I'm an Pasadena native and new to Orange County. I went to University of Arizona and have seen the potential there. I'm partnering with my 2 brothers and have a team I'm working with but looking to have more knowledge to better make decisions in my first investment. We are looking into investing in a multi family home. Excited to be apart of the community!