All Forum Posts by: Daniel Howard

Hi All,

Last week, I quit a really good job to take on Real Estate Full time. I have been passively doing real estate for about 10 years (selling and helping friends buy). It's a passion of mine however, in an effort to be responsible, I have always kept a corporate job to help me keep steady income in. 

3 years back, I bought a duplex and decided to stay in one unit and allow my tenants to pay 70% of the mortgage from the other unit, reducing my overhead drastically. It enabled me to save more money to comfortably try doing real estate for atleast 6 months to see if it works. If not, I am 34 and can go and get a job fairly easily. 

I want to buy more real estate though as reductions in SoCal are already happening. I do have a decent amount of cash to put down but with no income coming in beginning Jan 1st, not sure what I can do? I do have an LLC which I was thinking I could run money through there to pay myself to qualify but, I don't know if that will even work.

Should I just stop looking at Real Estate deals and focus on getting my fulltime real estate career going or is their hope that I can buy more property with the commission income that is coming in from the real estate deals? If I run it through my llc?

Thanks, BP!

Dan

@Michael Schleicher thank you

Anyone ever find good deals on either one? For Auction sites, what's your fav site?

@Vanessa Ganaden, I would like to become more aggressive. I don't have much money, south of 100k, but still, enough to make something off of. I am not big into flipping, would be much more interested in creating cash flow, so more of a buy and hold type of investor. If the right opportunity for a flip comes up, i'd be interested in going in with a partner. 

@Caleb Brown, I would LOVE to look out of state, but I am fearful that me not living there could create a problem. 

Do any of you have experience in investing in areas outside of los angeles and your success? 

@Jim Pellerin got it! Thanks , Jim.

Great suggestion . Will dk more research .

Dan

@Jim Pellerin, I’m not sure what is. Can you give a short summary based on your knowledge ?

What’s the smallest investment you’ve seen in that and it’s rate of return ?

Thanks so much,

Dan

Hi bigger pockets!

Would love some guidance and advice. I am a realtor and new investor. I own a duplex in which I live in and recently refinanced to take cash out to invest in something that would generate me consistent cash flow. Being that

the properties are so overpriced here in Los Angeles, without a partner, I don’t think that the money that I pulled out is enough to do much of anything. Wondering how I should use this cash? Any suggestions?

Hi Investor, 

I am a new Landlord/Homeowner in Los Angeles and have purchased property that is rent controlled. Fortunate for me, I received the property vacant and have received EXCELLENT rent from my occupied unit. I am occupying the second unit, currently. 

As a previous renter, I would receive a one time fee that was passed on to me  from the owner. I am curious to know, what fee's can I pass on to my tenants by the city of Los Angeles? Or any other fee for that matter? 

May someone please help and advise? 

Thanks,
Dan