All Forum Posts by: Charlie Gomez

Originally posted by @Caleb Heimsoth:

Charlie Gomez I’ve read most of David Greene’s book (after I already was investing out of state). I think it’s good to get the basics from that book, but be leery of doing major rehabs long distance, that’s a good way to get ripped off.

Start with the super basics. Buy a single family rental 20 percent down, 30 year fixed. Do that 2-3 times. Then if you want multifamily go do that. Then repeat. Then do commercial.

By time you get to your 5th or 6th deal you’ll know way more then you’ll ever learn just reading a book.

Thanks for the response Mike! I am a little green behind the ears but by this calculation, wouldn’t it mean that an insanely large amount of renters are getting their living cost subsidized in California? Yes, I have, although I’m not confident enough to sell my only rental yet, she is also a single mother and takes good care of the place so there’s that... I’m looking elsewhere at cheaper markets out of state. The out of state markets confuse me since I am so new to this, I’m still trying to get a grasp of what’s a deal,  what’s fair etc. 

Still trying to figure this site out! Thanks everybody else as I have read all your responses. I will have to do some digging now. For context, I purchased a home in Napa, Ca 3 years ago on a 15 year fixed loan. Currently renting it out and almost done rehabbing it. Am a third of the way paid off and since homes are so expensive In Ca, I am looking out of state. Texas is where my friends invest in but I don’t have any state in mind. Just cheaper than Ca and decent rental laws. Austin is a nice town but its prices rival many cities in Ca. Thank you all again for your responses.

Thanks Antione!

Hi I’m new to this site but people here are friendly. Looking for recommendations for books on buying out of state or anything you have learned doing it yourself. Thanks! Charlie