All Forum Posts by: Bryan Glaser

Thank you for the depth response. I will certainly take a look at those options as well!

Knowledge and options

Hi all,

I've been listening to the podcasts and reading forum posts in order to figure out the direction I would like to take. Sometimes I get that feeling like I missed the boat for deals as the ideal time to buy would have been a few years back. I read all these rules of thumb and realize they do not apply at all for California real estate (specifically Greater Los Angeles).

I find it frustrating that it seems the general opinion is to invest in your home state first and then branch out across borders however with the overinflation of real estate prices in my area I don't see it feasible to pay such a great deal of money for so little of a property/no cash flow especially since its not my objective to speculate on appreciation.

So far from my reading and learning I have decided I would like to focus on SFR/Multi-family. Ideally I want to get out of renting as soon as realistically possible and use my money towards an investment so here are the options I have come up with:

Option A:

Find a multi-family property in non-warzone area of SoCal

At the minimum, covers the mortgage, expenses, etc. via the tenants rents

Live in for a year or however long it takes to make my next move on a personal SFR or condo.

Expand my portfolio to more affordable real estate out of state or in state if possible.

Option B:

Keep renting and find a SFR/Multi out of state but close to Los Angeles area (Phoenix/Vegas).

Expand portfolio.

Starting small is key but I would love to one day grow to a point where I was making $5000/mo passive income or more in addition to the property values. Interested in long term wealth, not the get rich quick dream.

Lastly, so I don't sound like a whiner ;) some things I'm doing to help my situation are:

Obtaining my RE license here in California.

Paying down bad debt; credit cards, student loans, car loan (As quick as possible).

Reading and listening to a lot here on the BP website.

Opinions welcome, trying to see if my goals are realistic or if I need to rethink some things. I'm 28 and looking to have myself set in the future so I can enjoy some of my other passions in life. BP has been a huge help so far, but even with some questions answered, I'm just discovering the tip of the iceberg. Thanks all!

Awesome to hear from everyone, I think this is the most positive community I have joined. That means there is enough success and wealth to go around for everyone if the hard work is put in! :)

@James Wise thank you, pleasure to meet you. Looking forward to learning a lot!

@David Padilla sounds like a good idea to me. The biggest issue I am seeing is that there is no cash flow here in Southern Cal, unless you have a really big down payment. Rents don't seem to come close to what the mortgage would be.

@Ali Boone I think that is the perfect thing to do, beach bumming in Venice annnd doing Real Estate. Sounds like heaven. I'm super eager to learn more about REI, I find that I am much more of a hands on learner though. I know what you mean about wanting to do a million other things. Just finished studying for the night for my RE license test. Sherman Oaks is the best, would LOVE to own one of the small houses around here someday, the area is perfect. I definitely wouldn't mind talking more to you about some of your experiences so far in REI!

Hello Hello,

I'm Bryan and I'm new to REI. I made my way here from Northwest Indiana and I have been working towards my RE license currently. I've always been interested in investing but only recently found BiggerPockets. I've definitely learned a lot so far but I know I have not even scratched the surface.

My Goals:

Figure out a location where I can successfully purchase and rent my first property under $100,000

Build a portfolio of investments (I've been leaning more towards land lording), though flipping sounds fun too.

Eventually purchasing a property in Southern California to live in and rent out (my idea is I should be paying towards an investment rather than throwing all that money out the window on rent).

Lastly, build enough passive income that I can feel free to pursue other passions I have in life.

Right now I find that my struggle is really trying to nail down where to start. There are so many things I don't know how to do such as finding a good deal, or a good location. I think if I can find a fellow investor in the area with similar interests it can really help me understand these techniques. 

Overall, just looking to learn and be my own boss.

Pleasure to meet all of you!

Bryan

All good info, I believe yes I could handle much of the managing roles at least on my first property. Its just a nice, extra little perk that he has the experience as a handyman and my parents will most likely be in the area I invest in. Thanks all for the tips!

Hello! New to BP and RE Investing. I'm currently studying for my license here in California but I am looking into more affordable markets to get started as an investor. Ideally I would like to buy and rent to start with. Since California seems to require far to deep of pockets than what I currently have, I have been looking into Phoenix, AZ.

Another reason I have been looking there other than the cost of housing there, is that my parents are looking to retire in that area. My father has worked in home appliance repair for over 30 years and is a very savvy doit yourself-er. I was wondering would it be feasible to hire my parents as my Property Management team/my dad as my Handy-man for my properties?

Not that it would necessarily save me money, but it would be nice to have two of the most trust worthy people I know on the front lines with me and in the area where my properties will be since I'll remain living in California. Thoughts?

Thank you for all the advice ahead of time!