All Forum Posts by: Justin Worsham

Gorgeous! Well done. 

I have heard great things about section 8 tenants because the units get inspected and if they aren’t taking care of the property then they lose their voucher. 

My understanding is that in the state of California you can’t decline someone because of section 8. 

I know the original poster is from Colorado but I thought it was I Interesting when they passed that legislation here in California. 

Hey Anthony,

I am also in the San Fernando Valley and would be happy to meet up with you if you want. Or set up a time to chat over the phone. 

Just so I am clear is part of your “year off” that you are considering going into real estate as an agent or are you more interested in getting information during this time to become an investor and use your new pharmacy gig to build your portfolio?

I am not a section 8 expert, but I have a friend who has a lot of section 8 units and he has advised me that the rent is set by the section 8. Some people have charged above that from the tenant. But my understanding is that that is illegal. 

If someone doesn’t reach out with more info I will do some more digging around. 

It also gives you experience And an education on managing rentals. 

Congrats Aaron. I think you will find the folks here are very helpful. When I found bigger pockets I had a rental that wasn’t cash flowing. I came on here to ask what I should do and the advice was so helpful. Helped me start a flip business that has also helped my real estate career. 

Something to consider while living in LA and traveling so much for work is getting a gig as a property manager. Often times you can live for free at the place you manage. If the building is smaller, mine was 27 units, it is pretty easy to do even while traveling. You pay yourself the rent you would be paying to save up for your property. That’s how I bought my first house. 

I think that primarily depends on what your budget is and what you are comfortable investing. 

Multi-family can be a great way to diversify. By that I mean rarely will all the units be vacant so a little money will be coming in. Whereas when a tenant moves out of an SFR then there is no income till you find another tenant.

In my opinion an SFR can be easier to acquire in this area and if you have never invested before it is a great way to toe dip. And you can always work your way up to multi-family. Or you could consider a duplex, again depending on how much you plan to invest.

Traditionally SFR's will be "cheaper" than a multi family. My ultimate goal is to work my way up to 3 SFR's and then work on acquiring an apartment building.

I know some of this may seem like common sense. But I am not sure what you know and don’t know. So I mean no offense. We can dig deeper if you want. 

If I was in your shoes I would first work out a goal. Which it sounds like you want this to set you up for your retirement. 

The next step is to decide how much you need to make a month in retirement to maintain a lifestyle you are comfortable with. 

Then use what you have now to launch a strategy to work towards the end goal within the timeframe you would like. 

Hey Kevin,

I am an in the Burbank area too. I have been a property manager, then an investor. 

If  you want to get together or set up a time to chat over the phone I would be happy to help. I can share what I have learned. 

Welcome Yvonne. @Joshua Duvall I am also an agent and investor in Burbank. Would it be cool if came to a meet up? Don’t want to crash the party at all so feel free to ignore or say no.