All Forum Posts by: Craig Anderson

The best first book in my opinion is:

HOW TO INVEST IN REAL ESTATE: ULTIMATE BEGINNERS GUIDE TO INVESTING
BY JOSHUA DORKIN AND BRANDON TURNER

Then go from there. This book explains a lot of real estate information and helps to get you focused on your niche based on who you are.  

Podcasts: The Rookie Podcast

Go on to BP or YouTube and look for Podcasts/Webinars that you need to learn. Such as if you want to BRRRR, then look up videos on BRRRR strategies. I would recommend focusing on 15-20 of one focus at a time. Then do the same thing for the next area that you want to learn about to help you understand the business of investing.

You only get 5 FREE uses out of the BP Calculators. If you join Pro, then you have unlimited use of the calculators.  They really help with analyzing deals.

I'm interested in BRRRR-ing in SoCal as well and/or value add properties. I'm in the Murrieta area.

Anything is possible, you just need to find the right deal in the right place that works for your budget. You can consider putting only 3% down since you'll be house hacking. Then have the rest of the money for cash reserves.  LA is expensive, so good luck.

It would really depend on what the ARV is then base your numbers off of that amount. However. if you're going to house hack, then you can offer 10-15% off of their asking price MINUS repair costs. This would help with forcing appreciation. You may not recoup all of your money back within a year, but you'll get most of it, and have rental income to invest again. There are options for you, you just need to work the numbers and determine what is best for your needs. Good luck.

Hi Michael, my recommendation for your first few homes would be as close to your home as possible and what you feel comfortable driving, like an hour or so within your area. This helps when you want to check on your properties, especially on rehabs.  There are a lot of options and areas to look for investments.  Key in on areas that you are comfortable with for your price range and time management, especially if you're going to manage the properties yourself. Then, once you get your feet wet, then branch out to areas further away.

Hi, don't trust Zillow for rent estimate. It's a decent way to get general numbers, but BP Insights has a great rent estimator that is accurate. And, check out Rentometer.  These tools are accurate and give you the low to high rents in the area.  Also, call Property Managers and talk with your realtor (if you have one) to get a clear picture on rent. 

Yes, it is possible to have negative cash flow. However, in my opinion, it is not a good investment strategy to get into a deal with negative cash flow.  

Mentors are a good resource, but like everyone will tell you, you need to bring value to the relationship. To help get you focused, I would recommend reading "How to Invest in Real Estate: The Ultimate Beginners Guide to Getting Started" By Brandon Turner.