All Forum Posts by: Benjamin Geleris

Hey Osazee,

I certainly have enough to purchase a home, the few homes that we have written offers for we have lost due to being outbid or too late.  I am switching strategies because it seems like the market has slowed significantly and it may be better to use that money to create a portfolio that cash flows, as well as allows me to reduce my tax burden.  I am a dentist with an S-corp for my practice so I am hoping to utilize rental incomes to show a loss and bring down my taxable income.

I chose the 10K/mo arbitrarily as a number that would pay for future mortgage payments on a home in the Bay.  I understand that the money I currently have may not be enough to reach that goal immediately, however, one day I would like the cost of my mortgage to be paid off with monthly cash flowing properties.

Let me know if you have any other questions and if you have any advice.  Thanks for taking the time to respond. 

Thanks for your thoughts Travis.  I understand that I likely wouldn't be able to turn that $300K to 10K / month.  I am just looking to get started somewhere with some positive cashflow

Hello,

I am looking for some advice, as well as some potential people to work with.  I am currently living in the bay area of California and have been searching for a primary residence over the past 8 months with no luck.  I am planning on switching my strategy for the next year or two and I would like to find a good realtor company that can help reach my goals.  

Because the bay area is so competitive I am interested in investing out of the area, preferably in Southern California where I am originally from (Claremont, Pomona, Upland), however, I am also very open to investing out of state as well. I will do this while I continue to rent. My goal is to use a portion of what would have been my down payment (~$300 K) to invest in SFR or Multi-family to gain a monthly cashflow of ~$10 K. With this I will buy a house next year and use this monthly income to pay for my mortgage payments. I expect less than $300 K would be sufficient to gain this goal of $10 K / month. Would you agree with this?

I am looking for a real estate company that does not just look to sell me a house, but is also able to connect me with property mangers, contractors, lenders, etc in order to "build my team". I am not sure if it would be better to make multiple small purchases of SFR vs. one or two large purchase of multi-family to reach my goal of $10k / mo. I would appreciate any connections and advice.

Thank you,

Ben  Geleris

Hey Everyone,

I am a new investor working as a dentist that offers a good salary.  My wife and I have no kids as of yet and have been able to save quite a bit in our savings since we keep our expenses minimal.  We are looking to buy a primary residence in the East Bay, where my dental practice is located.  Currently we are eyeing a property that we would spend 5-7 years living in and fixing up and then looking to resell or hold and rent while we purchase our forever home.  After this purchase, hopefully in the next month, we will still have some money to invest and would like some advice on where to start.

The Bay area is very competitive area as far as I am concerned and I would be interested in exploring out of area markets.  I know there are some pros and cons to this approach and would be open to investing locally should the right opportunity present itself. 

I have read through other posts about starting out and plan to continue to read books on real estate investing that have been recommended as well as listen to the podcast.  I am hoping to gain some real world experience investing.  Please let me know if you have any advice.

Thanks,

Ben