All Forum Posts by: Davis Chem

@Julio Gonzalez Thank you! I feel welcomed already. 

@Justin Windham I'll definitely look into the guides, thank you for taking time out of your day to respond.

@Nathan Gesner Thank you soo much, I'll definitely come back to look at this as I go. I do think I have a basic understanding of real estate and it honestly makes me excited to jump into investing. Again thank you for taking time out of your day to respond.

@Scott M. I was curious as to how different it'd be to be a landlord elsewhere since it'd be easier for my family to start investing in their home country. The question was to gauge how much of a difference the transition would be. Thank you for taking time out of your day to respond.

Hello, my name's Davis Chem and I'm an 18 year old situated in Southern California.

I'm looking to invest within an hour or two of LA county, ideally starting out with a house hack.

You're probably thinking about why I want to start investing and how it's probably a phase since I'm so young. I'll keep it short and sweet, I wanted to grow a RE portfolio to support my family. My mom's a hard working person, but she's never been business savy. My dad on the other hand is very entrepreneurial minded and has some success running a business. He's out of the country right now for business and most of that responsibility landed on me so I'm managing a small business while thinking about how I can start investing with what I have.

@Bjorn Ahlblad So in the end the basic fundamentals are the same and tweaking the details are what you'd need to work on to adjust. Thank you, this just gives me more confidence to get started.

Would managing tenants in another country count as experience? I do understand that it is very different, and since I’m in California, there’s even more that I’d need to learn with all the policies. I am also completely new to real estate in America, just learning for a couple months. I’m wondering if that experience counts as anything credible, either way, I’m planning on jumping into land lording here in America too. 

@Bud Gaffney That’s what I was thinking too. As long as moving, cut down on my living expenses, I believe I could make things work. A 4-plex in my area would definitely creep into the million dollar price range making a 5% down payment $50K. Again that brings up my issue with financing because I don’t have that much. Would the bank let me partner with someone to qualify for the loan? 

@Bruce Woodruff I was definitely looking into moving but my parents wouldn’t want to move out of state. I’ll look around and try to find a cheaper area around us within 1-2 hours though since I think that’s the best compromise I could make.

@Bud Gaffney That’s the route I’m trying to go to start my RE investing!! The only problem is that I’m in a very expensive part of California and the prices are all well above $500 thousand for multi family houses.