All Forum Posts by: Julian Rivera

Is renting single family properties just as challenging as owning a commercial property? Is obtaining either similar or does commercial invest have more moving parts to it? Is starting off REI head first into commercial properties more riskier ?

Hello Fellow BP Community!

It's been some time I've been on here. Have been in and out of encouragement and discouragement. Currently in a pickle! I'm in need of personal and even professional opinions! As of right now I'm currently under process of becoming a correctional officer for the state of California. I'm doing it for its amazing job security and mainly the income that comes with it, mainly for it to help supplement my REI journey! It's a years process down the road and I feel as if time is going by too fast! I've read and been through many seminars on how and why becoming a real estate agent is So BENEFICIAL for one that is investing as well such as , off market deals, first to view open housing, commission savings , etc,. My mind is telling me play it safe and go with a stabilize job security, but my heart is telling me a much more greater opportunity and doors will open if I pursue a career as a real estate agent to have more options and advantages to networking with others.

If there is anyone with even little or such experience being an agent alongside being an investor in any market, it would  be greatly appreciated you all can please educate me whether or not being an agent is a great decision! Again , I'm open to anyone with any experience or know of someone that has such experiences!

@Joseph Firmin Okay that makes more sense. Thank you so much for the clarification. 

@AJ H 

@Aaron W. So far I haven't researched any market, more of learning the fundamentals of investing out of state. My main goal for REI, is to buy and hold great enough to invest full time "not work". My market around here , Moreno Valley CA, is by far out of my purchasing power. Came across a few investors/realtors who have successfully invested out of COUNTRY! Figured if it may be possible for them, It can be possible for me as well if I obtain the right knowledge. Then so on , build upon my portfolio , but taking the baby steps.

Hello Bigger Pockets Community!

I have a question for those who are currently investing out of state. When purchasing a first rental, out if state with FHA, is it required to live in the residents? Can you still invest out of state as you still reside where you live? Expanding my options and learning the aspects of out of state investing , due to my market out of my price range.

@Hadar Orkibi Hello Mr. Orkibki! Mindset goes along way when it comes setting fourth a path toward success. I agree with you 100 percent ! It takes sacrifice and surrounding yourself not only with those that HAVE done it, but also a great support system. Before coming across REI, I knew nothing of assets! Just a young kid who wanted a good paying job to buy my dream car ( 2018 charger scatpack ) which I accomplished ! But then I found myself in a pickle, I felt if this is how life would be like, gain capital and work for the rest of my life, I knew it wasn't for me. I'd like to reach for something I knew my father would have wanted to do when he was a teenager. Long story short, I came across real estate investing and knew this was my path, I was frugal, I saved most of my income , great credit score, only thing holding me back, lack of knowledge, and liabilities. Swallowed the hard pill and sold my dream car , cut off time wasting hobbies, bought books, listen to seminars, observed the greatest Real estate investors across the country and began DOING IT! Also came across BiggerPockets community, which was the greatest thing so far! I look forward connecting with hundreds of more like yourself! Thank you for sharing your thoughts!

@Marc Rice Hey mark! Honestly, that has been an option but unfortunately , my market is a bit out of my purchasing power as a lone first time home buyer, researching more into investing out of state since I've seen millions of investors succeed in such a strategy. So learning as much about it now, if that's a path I must take to make it all happen!

@Chris Carr I've had considered Menifee for some time. It's becoming a growing market with affordable housing with great inventory from what I've observed so far. 

@Taylor L.

Impressive Portfolio you have! Keep it going! Thank you for sharing such knowledge to help others like me expand their wealth in the world of real estate! 

Did you start off with commercial real estate or beginning with Single family, multi family, homes etc. 

@Devon Preyer

Hello Devon! I appreciate it brother! Gotta start somehwere! You still require PMI with a conventional loan? I honestly thought it was only when you apply with a FHA loan due to 3% down payment? Is your first home your primary residence, or do you plan on renting it out and using the refi to purchase another property?

His books have given me so much more knowledge along with Bigger pockets Community page that I'm starting to use now! 

I do plan on purchasing my first property with low money down (FHA) loan, only brick wall I'm running into with my loan officer, is not much inventory available for what I qualify for in my market here in the IE. Now looking into increasing my base job , along the way , CONTINUE SAVING . Hoping for the best and looking more into out of state investing but man oh man am I scared for such a responsibility , but having such a helping community like Bigger Pockets, I have no doubt that anyone can do it!

@Taylor L.

That is absolutely true that risks run everywhere involving Real Estate. 

I'll have to look more into Hadar Orkibi! Thank you for sharing such a motivating resource!

Are you an Investor yourself? If so, how much experience do you have within Real Estate?