All Forum Posts by: Chad Deihl

Elk Grove, Roseville, Folsom, Sacramento all good areas to invest in.  Familiarize yourself with the term House Hacking.  If that's something that would interest you, that is a great start to financial freedom ;)

I am a Realtor in Sacramento and I can honestly say we have appreciated the boom out here as more and more Bay Area resident move out this way due to affordability.  In my opinion it is an excellent idea... of course I am partial, but they are also facts.  ;)

Ryan, if youre going to get into real estate youre going to want a larger population surrounding you... youre in the boondocks. Roseville would be the way to go. This MLS covers 9 counties so its a vast territory with a much, much larger population. It sounds like from everything youve mentioned, it would be worth the risk moving here so long as you can afford to live here. More and more people are moving from the San Francisco Bay Area out this way, so prices are going up... but still much more affordable and you can find deals here. If you have employment here, youll be able to survive while working part time with a flipper for free...and learning from the process. Just make yourself valuable to them and it will pay off. In fact, maybe work for free in exchange for a small portion of the overall profits! Surely someone would be able to use your talents and your drive if you put your energy into it.

Having spoken from previous experience, you're better off having them leave the place as clean as possible... theyve given a good deal of notice.  Your ultimate goal is to get it rerented as soon as possible and if the place is clean, that should be easy to do.  Be sure to do a final walkthrough with them and schedule it.  This process will save TONS of headaches and their reasoning may be completely legitimate if theyve been great renters.

@Nick Meyer I am a Realtor in Sacramento and Fresno- covering 11 counties.  I'd be happy to connect if interested.  I'll shoot you a PM.

Hello @Ly Nguyen,

First of all, when you say your family hasn't done what you want to do about passing on the wealth and education, they dont know what they are talking about... so let's prove them wrong!

I am a Realtor in the area and would be happy to share some expertise with you in both the investing world and real estate in general.  

It sounds like you're definitely headed in the right path with the right ideas.

Feel free to send me a direct message anytime!  I help investors from Sacramento to Fresno... both great markets now as more and more people flee the rising costs of the Bay Area.

Look forward to hearing from you!

- Chad

@David -  you can still buy brand new builds in Fresno for under $300k.  I'm a Realtor here and would be happy to look at some small investment properties for you if interested. 

Advice needed for someone starting out with 1st investment!

Ive listened to alot of pdocasts on Biggerpockets but havent heard this one specifically addressed unless I missed it. Im torn whether to start out doing the BRRRR strategy or starting out with a basic flip. I understand how to run the numbers on both, however Im not sure if one or the other is better starting out. Here's my specific scenario:

1)  I live in California and would rather be somewhat close to the investment

2)  I have about $60,000 to work with - which isnt alot for California.  

3) Fico scores are approximately 640 and DTI is around 30% without a mortgage

4)  Ive eyed a couple smaller rental properties that could be purchased, rehabbed, rented, refinanced etc.

5)  Ive also eyes a couple middle sized properties that could be rehabbed and resold - Ive run these numbers conservatively.

I do not have a crew of workers, but I am not in a hurry. Going the BRRRR route, the ROI wont be much starting off and I fear that the $60k I have for making this thing go will run out faster, although the equity potential long run may be better.

I have done some work on my own home and am pleased with the results and I am not afraid to do more, but I also dont want it to take forever.   If I could make $20-$30k over the next 6 months I almost feel like that is the better way to go with the potential to build the nest egg a little more.  I like the idea of buy and hold for the long run, but thinking the smaller flips may be better initially.  

Aside from smaller foundation problems and unforseen termite damage, I am fairly experienced enough to spot other problems that may not be worth investing into initially.

What way would you go starting out?   Rentals or smaller flips.

Have you considered marketing to divorce lawyers?  How about paying them a visit and introducing yourself   =)