All Forum Posts by: Gabriella Vehrs

When you have multiple entities, do you pay your lawyer or CPA to manage them for you, or do you just handle all the upkeep yourself?

@Scott Trench that was incredibly helpful, and exactly what I was looking for. Thank you!

I’m wondering about the benefits of having a high paying job outside of real estate vs looking to build a career within real estate while investing at the same time.

I just started a career in business to business sales. After two years of working this entry level sales job, I could move into a variety of lucrative sales jobs in different industries. I’ve had my eye on medical device sales and software as a service sales for their high salaries + commissions. My plan so far was to just focus on maximizing my salary to have more capital for investing on the side. But now I’m becoming more interested and passionate about the real estate industry.

I’d love to hear from people who have made real estate their career: brokers, agents, lenders, loan officers, etc. Anyone from property management to title companies.

How has that complemented your investing strategy? Has it made more sense to work in the industry while investing?

Thanks, @Chace Fraser for the reply. I've read Set for Life, and I listen to the podcast every week. I'm looking for something more specific here. Scott uses the 25k number (save your first 25k), but doesn't go into detail how you would allocate that when looking to start your first investment or house hack. I'd love to hear more about how to save for a downpayment, what sort of personal savings buffer to have, and what sort of reserves I should have for emergency repairs. As well as general personal finance things to take into consideration. 

I'd love to bring @Mindy Jensen into this conversation as well!

In @Scott Trench's latest post on a potential crash, "Yes, I’m Afraid of a Real Estate Bubble—But I Continue to Invest Anyway. Here’s Why." He says,

"I buy well within my means, with a rock solid personal financial foundation, and spend extremely little on my lifestyle. I maintain a high savings rate and have stashed away a large cash reserve. I also own a stock portfolio."

I'm really curious what a rock solid personal financial foundation looks like. As someone just starting out, looking for my first property, what should my personal finances look like before I buy? Eliminate all debt, including safe-ish debt like student loans? What about savings reserve? If my first purchase is a house hack like a duplex, how much reserve cash should I have on hand beyond a downpayment?

I'm just starting out in my interest in real estate investing. I've been reading and consuming content for 8 months, my husband and I are working to save our first 25k, and I have a hefty student loan bill I'm paying down. 

So what are the first baby steps? Do I start looking for deals right now? Do I work to build my credit score? I have "fair" credit in the high 600 range. Do I wait until I have 25k? I'd like to have our first multiplex in the next 5 years. What do I need to be doing now to be in a position to buy in a few years?

Some context...

I just recently took an entry level job in sales as a recent college grad. I'm hoping to grow my salary into the 6-figure range in the next 5 years. Right now my husband makes enough that I can use 100% of my salary for saving and student loans. I also reside in Fresno, California, so advice related to that would be awesome too!

Thanks, awesome BP folks!

 Thanks for sharing your experience, Jerryll. I’ll keep that in mind. 

Thanks, Darryl. I’m looking for some meet up groups. Do you have some you could point me towards? 

Hello Bigger Pockets Community!

After binge-listening to the podcast over the last few weeks, I'm finally venturing onto the forums. I'm 26, and very hungry. I'm brand new to Real Estate, and am looking to start the process of getting my real estate license here in Fresno, CA. In the process of researching that I discovered the real estate investing/wholesaling/flipping process, and became intrigued. 

I'd really like to get my hands dirty working for someone else... or... gulp... jumping into the wholesaling game on my own. My background is in non-profit management, so this is majorly new territory for me. 

I'm excited to learn from y'all on here!

Gabi Vehrs