All Forum Posts by: Julie Bourdon

Seems like you are doing it right with educating yourself and asking for advice prior to making your first investment move. I also think it's normal and somewhat helpful to have some fear, anxiety, concern, etc. But, that should help keep you focused and not hold you back from taking action. 

I have done many deals where I was nervous and anxious and questioning myself, but after a while you work through it and do it anyway ... but smartly.

The first thing you should do, if you haven't already, is take a good look at your current situation (income, expenses, job security, etc) and project into the future of what you want your life to look like and then work backwards filling in the gaps. In other words, if you are going for a certain amount of passive cashflow in the future, then you can work on understanding the moves you should make today to set yourself up for that future. Experienced investors will tell you that real wealth is made from appreciation and growth. It is basically preparing yourself for success and putting yourself on that path. I have many examples of both mistakes and successes regarding that principle.

Anyway, I am also in CA and my first rental was out of state. What helped me take the leap was following others that already had a team set up,  and they had already researched markets, vendors, etc, making the whole process easy. I only needed to verify them and generally their conclusions, but there was no sense in reinventing the wheel from scratch. And this was the late 90's so there were a lot less resources readily available, as compared to today. I still follow one of those people today and trust them and their conclusions 1,000%, based on my experience with them.

Once again, I feel the place for you to start is to get very clear on where you "want to be", then you will be able to get a clearer idea of what to do today to head that direction. 

And keep reaching out and asking questions or for help, as many of us have a lot of experience and are happy to share our insights.

@Julie Bourdon

To transition from California's challenging real estate market to out-of-state investing, set your goal, keep learning,  choose a market with strong rental demand and gather a team there. Begin with one property, push yourself to start by a set time, and don’t give up. A mentor can help guide you and keep you on track. Start with safer bets and slowly get braver to beat fear and win in the property game.

Good luck

 Hi Julie! I’m also in California and have debated about every strategy out there 😅. But landed on flipping (with the intent of buying and holding eventually) given that I have always wanted to do it! My big concern, like you, was the cost of property in California but there are some cheaper markets in state as well that have a lower barrier to entry than the coastal markets. I am sure you can find success in whatever you do. And let me know if you’d like to connect, I am in North county san diego and in OC often. 

@Julie Bourdon

*Agents have entered the chat* haha

People are making money in virtually every market. I can definitely understand how overwhelming it can be. 

Are you able to figure out how to house hack locally? Orange County is obviously very expensive, but have you looked at neighboring cities, even Las Vegas? 

Somewhere where you can live or be in a short amount of time. Physically see it, drive it, be there for inspections, etc. 

When investors start out they're usually attracted to all of these home run and grand slam stories about 6-7 figures in 2-5 years. Incredible risk to do that. 

But I'd suggest to not get caught up trying to hit a home run on your first deal. Learn how to consistently hit singles and doubles and wait 10-20 years. This is a long game. 

Just my opinion, and best of luck to you! :)