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All Forum Posts by: Jonathan Guerrero

Jonathan Guerrero has started 17 posts and replied 71 times.

Post: Hello everyone! Newbie from Bakersfield, CA

Jonathan GuerreroPosted
  • Bakersfield, CA
  • Posts 73
  • Votes 9
Originally posted by @Gene Hacker:

Hi Jonathan,

Welcome.  

Having a strong desire to learn more about this business is great.  But don't be too in a hurry (or desperate) to do you first deal. Take the time needed to make sure the first deal is a true deal, nothing sinks new investors like a bad first experience.  

I have rentals in the Kern River Valley (about 40 minutes into the mountains from Bakersfield).

 Thanks for the reminder Gene. It's easy to rush into things but yes, I do need to be patient and wait for the right opportunity.

Post: Hello everyone! Newbie from Bakersfield, CA

Jonathan GuerreroPosted
  • Bakersfield, CA
  • Posts 73
  • Votes 9
Originally posted by @Mindy Jensen:

@Brandon Turner recently wrote a great post about BRRR strategy. Buy, Rehab, Refi, Rent. I think there are more R's. Anyway, check that post out. It is a great strategy for hot markets. Good luck!

 Great article! Thanks!

Post: Hello everyone! Newbie from Bakersfield, CA

Jonathan GuerreroPosted
  • Bakersfield, CA
  • Posts 73
  • Votes 9
Originally posted by @Mindy Jensen:

@Jonathan Guerrero, welcome to BP. You have already started listening to the podcasts, that is a great place to begin. Did you read The Ultimate Beginner's Guide to Real Estate Investing yet? It is a free download, and a great read. 

Go through the BP Blog

Do you know what niche you want to invest in? Rentals, flipping, wholesaling?

Once you find your first deal, present it to the forums to get other opinions on it. This is such a welcoming community. Good luck!

 I have read the UBG and and my long term goal is to buy and hold but I wouldn't cashflow much because the market here is so high.  Which leads me to start wholesaling or  rehabbing, and then be able to buy and hold.   

Post: Hello everyone! Newbie from Bakersfield, CA

Jonathan GuerreroPosted
  • Bakersfield, CA
  • Posts 73
  • Votes 9

Hi everyone my name is Jonathan Guerrero and I'm from Bakersfield, CA. I've listened to majority of the BP podcasts and I've been lurking around here for a little bit.  I'm desperate to learn more about this business and desperate to get my first deal Under my belt. 

Im currently employed in the oil industry and I want to invest my time in something that will actually give me all the freedom I want provide me and my family with a better future and better opportunities.

I'd love to network and meet people so I can learn, grow and help others. Thanks!

Post: To Build a Duplex or not to build?

Jonathan GuerreroPosted
  • Bakersfield, CA
  • Posts 73
  • Votes 9

A few blocks down from my residence, someone built two duplexes on a small lot. I think they took about 6 months to do it but I felt like they were dragging it. I could be wrong, maybe building permit issues. However, it should take 4-6 months for the project to be complete. 

And about leverage, some of these sellers are pretty motivated. Some are willing to seller finance, small down payment, or even partner up with you. 

I'm just a little torn between building and buying. But Sam you brought up some good points. 

Post: To Build a Duplex or not to build?

Jonathan GuerreroPosted
  • Bakersfield, CA
  • Posts 73
  • Votes 9

I want to start investing but I'm having trouble finding a great deal on multifamily properties.  Everything is so expensive and the cheaper ones are in bad locations. 

My dad can build a home from scratch so I was thinking in partnering with him and build one, occupy it, build a few more on the same lot and either sell or hold.  Building one would cost me as much as an old ugly one. I know it's a huge step for my first move but is it worth it?   Any input is would be great. 

Originally posted by @Account Closed:

Depends on the price point and area for potential buyers.  If it is a younger family with small children, secondary bathroom size is not as imperative as a larger master bath shower.  (as long as you are not removing the tub).   If it is a small 34" insert fiberglass shower get rid of it!  

 It is a small insert and I will get rid of it. It's hideous. 

Thanks for the input guys. 

Good point. I need to double check on that. 

I want to expand the master bathroom shower, but if I do I will be reducing the guest bathroom size. Is that a good idea or should I just keep it the same? Will it reduce some value, scare off potential buyers?

Post: Is it too late to start investing in RE?

Jonathan GuerreroPosted
  • Bakersfield, CA
  • Posts 73
  • Votes 9
Originally posted by @Zach Liu:

It is never too late to start. But to have a successful investment career needs a deep understanding of how to evaluate properties. As long as you have a good grasp of that, you will know which ones make sense and which are not in the majority of the time. You can buy good deals in high market and you may lose money in low market too if you are not careful. So the biggest difference is YOU. 

Good luck.

 Thanks Zach.  You make a good point.