All Forum Posts by: Jerry Soer

I purchased a property in Indianapolis in July of 2015 with HomeUnion. Make sure you read all the fine print and check for details because they don't. I found a variety of errors in contracts or differences between what I was "sold" and what the contracts stated. I believe that I did get a good property, which is generating cash flow, however, HomeUnion's property management was terrible. And I switched PM after just 4 months. I've also had a LOT of repair costs, and I suspect that HomeUnion didn't work hard enough for me on inspection and seller-paid repairs or on some of the minor rehab they did. 

They do have good and flashy insights and a usable client interface as though they have the skeleton to be good, but are still working on it. While ultimately, I think it worked out for me, I'm looking for another property now and would not use HomeUnion again. 

@Jerry Soer

Look at all your options, rent, buy (SFR, duplex, condo, towhouse), out of state, etc. Run the numbers.

Here's a post by a person in OC, looking at his options.

https://www.biggerpockets.com/forums/55/topics/436840-real-estate-interested-from-orange-county-ca

Terry

Welcome to Bigger Pockets @Jerry Soer

BP is loaded with all the information you will need to succeed in whatever niche of real estate investing you wish to pursue and the community is filled with knowledgeable investors and professionals to learn from and connect with.

BP is what you make it. The more you put in, the more you will get out of it!

Listen to the podcast for extra inspiration and investing advice and post in the forum for any questions you have.Members here are really eager to help. We're all working to succeed together.

Also, check the "networking events" tab under "Community" and go out there and meet people. That's the way to build powerful relationships.

Like you, I am living in Los Angeles (and was in the entertainment field as "talent") but I focus on investing out of state for the 3x cash flow and reasonable cost of real estate. Florida is my state of choice. Personally I rent here and like to buy out of state.

So for example you can rent a 700k home here for lets say $2500 and buy a property for 400k in a cash flowing market that generates $4000+ per month gross that will pay a good chunk of your rent.

If you have any questions about out of state investing and the Florida market, please connect with me and good luck on your journey!

- Brad

P.S. If you haven't read Rich Dad, Poor Dad and The 4 Hour Work Week, I have detailed personal notes that I am happy to share with you. Amazing reads!

Welcome Jerry! Real estate investing can be a great source of passive income. Just make sure to do your homework in advance and crunch the numbers. If you need any help with that just ask!

Welcome to BiggerPockets Jerry!

Hello Jerry Soer
Welcome to BiggerPockets! It sounds like you have a great goal set. $400k might not get you much in LA city zip code, but just a little ways away you can find a 2 bed for that. 20% down is a great downpayment as you eliminate the mortgage insurance and save money! Congrats on saving up so much.