All Forum Posts by: Account Closed

Great! Thanks for the tip.

Hello everyone!

First off, this website is amazing. I have only been on it a few weeks, and I have been listening to all the podcasts on my way to and from work every morning. I wish I knew this stuff 10 years ago. So I am a third year law student at UCLA. My fiancee is finishing her last year of accountancy school in San Diego. We graduate next May, and due to some great advice from the people on this website, we are going to hold off buying until we land full-time jobs.

That being said, I was wondering if there are real estate investment groups in Los Angeles that meet to talk shop. I am really excited to meet some investors and see what they do. I guess what I am asking is to see how the true investors do it. I am taking the Real Estate Clinic at UCLA this next year, and I will be attending a crowd-funding real estate event this week, but I want to know what else is out there.

Thanks everyone!

Charles

Thanks for the advice. Right now, I think my fiancee and I are going to hold off until we both graduate next year. Once we have jobs, we are going to start, and probably on a few places we are more familiar with. Our misfortune is that we only know California. It is so expensive here.

Thank you so much. We hope we can start to invest in the mid-west at one point.

Thank you everyone for your advice. Honestly, being a California boy, I didn't even think about the temperature.

Newbie

Hello Brie,

Thank you for the advice. It's funny you say that, because we are fast coming to that realization. Audrey and I are going to wait until we have paychecks.

Also, we heard your podcast yesterday. It was very inspiring; we enjoyed hearing your story.

Thanks for the response.

Charles 

Wow, this is incredible. I don't even know what I need yet, but I am sure I need some of this. :)

Newbie

Thanks both of you! This is great.

We were thinking about calling local banks and credit unions in Milwaukee. Does this ever work?

So my fiancee and I currently live in southern California. Over the past three months of stalking this website and listening to the podcast, we have decided to set a goal of purchasing our first investment (buy-and-hold) property by December. We are currently looking at Milwaukee. We hope to start our careers in Chicago, so it seemed logical.

We have a few hurdles to overcome.

1) Both of us are currently students. I am a third year at UCLA Law, and she is an accounting major at SDSU. However, we have no debt (our school and lodging is paid for).

2) We don't know much about Milwaukee. I imagine that might be a big problem.

3) We have $200k, but it is nearly all wrapped up in retirement accounts. I am not sure if I can borrow against it.

4) We do not have jobs (no W-2s).

Anyways, with all of that facing us we are looking for a way to acquire a small loan (~$80-100k) and purchase a duplex or single-family. We have been scouring websites like Zillow, and sending messages to everyone we can.

Does anyone have any advice on how to acquire a loan? Is it even possible.

Newbie from LA.

Hello mid-west!

I am completely new to this website, and to real estate in general. My fiancee and I are looking to invest in duplexes or single homes in Milwaukee. My fiancee and I have wanted to real estate for quite awhile, but we are really new to a lot of the lingo.

Rule of 2%. So I am currently talking to a owner of a property he wants to sell for $50k and claims there is a renter currently paying $850. He also claims the home has been newly renovated. Am I right in believing that this nearly satisfies the Rule of 2%? I am just trying to figure out how the calculations are done.

Newbie

Thanks everyone!

We are really excited for this. We have been HGTV junkies for years, and have wanted to start this. This website is so great!

Mehren, that is great to know. I am still pretty new to all of this. My fiancee and I are going to create an LLC in Wisconsin and Michigan by this Christmas. We have some money saved up, but nearly all of it is in retirement accounts. We are looking to take out a loan (still learning about how to do that without a W2 and current real estate). Honestly, I am not sure if I can. If not, once we get our jobs we wanted to purchase some duplexes in Milwaukee.

Any advice on what places and pricepoints we should be looking at?