All Forum Posts by: Jeff Parkin

Thanks Brian, that was a good read! As rental prices have gone up the past several years I think those with section 8 vouchers take them more seriously now and don't want to jeopardize losing access to the program. And yeah, as I've searched around on here I've definitely seen the love vs. hate on sub 30k properties. They don't scare me though. I actually like the idea of being part of improving a community one property at a time. 

I'd love to, but as I mentioned above to Scott... I'm not sure I'd be able to pull that off because my credit isn't so great and I currently work as an independent contractor therefore my adj. gross is extremely low after taking all the deductions allowed by the tax code. I'll have to do more research on my financing options to see if it's a viable option. 

I'm not opposed to that idea at all. I still need to do some research on financing methods though to see what my options are. I currently work as an independent contractor, and write off just about everything as business expenses, which leaves my adjusted gross income at next to nothing, making it hard to qualify for traditional financing. On top of that, I had to close a business as a result of the recession and it has left my credit in poor condition. I figured in order to get into the game i'd have to be a cash buyer, or look at creative financing options (ie. seller financing, etc.) I'm all ears however, if you have suggestions!

@Marci Wilson Thank you, I'm pumped to get started! And good luck to you as well!

@Steve Kordish Nope, not a GC. Boy would that come in handy though! I'm currently an independent contractor (Uber Driver). I mentioned being a contractor because as I understand it, it's difficult to procure traditional financing when you file taxes using 1099's.

Greetings All! My name is Jeff, and I’m a newbie soon to be investor. I just found BiggerPockets recently and am overwhelmed (in a good way) at the plethora of information I’ve come across so far! I’m extremely excited to be here and wanted to take a minute to introduce myself to the community. A little about me… I’m 42, single, college graduate, former retail store owner, long time renter in South Orange County, Ca. and actually do enjoy long walks on the beach. (Haha, this feels like a dating profile!) I would love to be able to buy property here, but finances and prices just won’t allow for it at this time.

From what I’ve gathered thus far, the sub 30k market looks to be the best place for me, and since those properties don’t exist in California, I’ll be looking to invest out of state in places like Baltimore, Atlanta, Detroit, etc. The question I’ll pose to anyone who’d like to weigh in… what do you think is the best way to get started with my current situation (lack of credit, limited capital (28k), income as a contractor, living in CA)?

I’m obviously still in the learning phase so I welcome your suggestions & comments and look forward to being an active member of the BiggerPockets community! Woohoo, I’m excited! ~ Cheers