All Forum Posts by: Charles Renn

Hi Jason, welcome to the BP community! You've got a lot of good advice here already, but if you're interested in attending @David Greene's next SoCal meetup this month, you'll find it here in the meetups page or direct message me and I'll send you more details!

Hi @Nadeim M.,

The best path to take is to hire an attorney to draft up something they feel will protect you in the long run. Unfortunately, there are differing opinions out there, especially with the moratoriums in place still (to my knowledge) for the city of Los Angeles. Another piece of advice is get everything in writing. If you'd like a referral I'm happy to share. Hope this helps!

No one begins investing in real estate to just own one property...but in an expensive market with tight margins, how do you scale and purchase your next investment property?

Join David, Host of The Bigger Pockets Podcast & best selling author, and his team as they share how investors are currently utilizing creative strategies to grow and manage their real estate portfolios in Southern California.

We'll dive into key topics such as:

• What are the highest performing property types for investors?
• How to utilize different financing strategies
• What metrics to look for in your deals
• Should you keep your property and rent it out, or sell it based on your return on equity (ROE)?
• And so much more!

This will also be a great opportunity to meet other like-minded investors in the local area and network with people who can help you successfully secure your next deal.

*VIP Hour with David Greene: Limited spots available. Join in on an investment Q&A in an intimate group setting with David. You'll have the opportunity to ask David questions about your own real estate journey and he will share his advice and what he would do in your situation!

TICKETS & AGENDA

$50 General Admission

$150 VIP with 1hr with David in an intimate setting

Hors d' oeuvres, desserts, and beverages will be provided. There will also be a cash bar available.

Hi @Jason Kotzbauer, congrats on all the success it sounds like you've had with your investing. You have a good amount of insights here that can help your friend, primarily being fully approved with a lender. Here in SoCal the main strategy that works for my clients is to house hack. It's not for everyone, but if your friend is open to renting out a room or perhaps he may qualify for a duplex, the lower mortgage via income from the rental tends to help. There are a number of questions I have for your friend, but feel free to connect directly for further insight on a lender, and or the market specifically. Best of luck!

 Hi Anthony, it's best to find a qualified lender. There aren't any cons in my perspective, but their are criteria/requirements you must follow including income limits and no primary in the last 3 years I believe. Hope this helps!

Hey Luca, If I can add anything to consider that doesn't' appear to be mentioned here it would be the mid-term rental route. You'll need to consider the properties location and the market for MTRs in your area, but if you can leave it furnished easily, this may be a way to come closer to break even after expenses since MTRs typically rent out 1.5-2x long term rentals. Hope this helps!

 Hi @Jeanelle Ignacio, welcome to Bigger Pockets and congrats on the successes you've had so far! You have a lot of good feedback here already including looking into tax benefits (cost seg), books, and your next real estate purchase. You mention your goal is to retire, and find cash flowing properties in coastal Oregon. 

Here are some questions I'd ask myself if I was in your position:

What attracts you to purchase in Oregon?

What type of cash flow are you looking for? It sounds like you have some cash flow in the properties you have. Perhaps looking at appreciation is something to consider.

Why is cash flow your primary goal? 

Hope this helps!

Looking forward to meeting you all in a couple weeks! 

 Hi @Jack Zhuang, I noticed this post was a year ago, but checking to see if the management company you're working with is a good fit. I have a medium term property management company in mind.

 Hey @Jason Oliver, you have a lot of great advice here to roll with. If you haven't already, find a lender and agent that's a good fit for you. Know your goals going into the conversation so that you can see if these team members will be a good fit. Think of things like your criteria, location, condition, and time you plan to live in this property. Since you're house hacking, I'm sure you'll want to move as soon as possible to the next property. Keep in mind that with LA property prices and a low down payment, you'll need to be patient before the mortgage is paid by rents. Lastly, if you like the FHA route, talk with your lender about the self sustainability rule. This makes 99% of 3-4 unit properties unavailable for FHA financing. Hope this helps and feel free to connect for more insights.