All Forum Posts by: Kathy Villagomez

Good Morning,

I'm in the same boat as @Miguel DelaPena.  I work full time, live in Long Beach, and am looking for my first investment in Las Vegas.  I'd like to learn more about the market etc....   I'm going to do my best to make it however if there is a facebook, skype, or other web option that would be awesome. 

I look forward to participating.

@Keeya WangJones, I definitely wondered the same and hold the same concerns and reservations;however, I have decided to continue forth with my plan because taking action and possibly helping with a rental housing crisis is better for my soul and if I plan correctly...my pocketbook.  As @Account Closed mentioned, not sure how reality based some of Trump/Carson's agenda really is. Until then, I am going to forge ahead with my plan.  that said, I will definitely crunch my numbers, pay attention, and exercise my voice. 

Are you able to refi, not pull money out, and lower the amount that you are negative each month and just use what you have to invest in Bakersfield?  

I was in a similar negative cash flow situation with a condo in long beach.  One of my mistake was pulling money out. Another was holding onto it for too long. It ultimately put me in a bad financial position that I am barely got out of.  I'm not saying that will happen for you, I'm just sharing as something to consider.

i think it depends on your goals and ability to withstand a negative cash flow. 

my 2 cents

@Sherman Ragland   thanks....this is invaluable advice that I plan to act on.  

@Maya S.  well stated!  It looks like we have the same goals.  Best to you :-)

I'm leaning toward price point and where I can fly to within a reasonable time frame.  I've considered places where family are located however not good markets for me at this time. I'm also looking for a market for buy and holds as I can't fathom stomaching a flip out of state. Too much trust on a newly created team.

I have found Paul Horn's probate materials very helpful.  He has a website and is a probate attorney based out of Southern California.  He does a lot of training geared toward agents however he also has materials for investors.  I have seen him present at our local women investors group. He was great! 

I'm glad that we are discussing....  I am in the process of fine tuning my criteria and searching for a viable market.  I agree with @MartinSalata ,  I feel more knowledgeable and have an advantage in my local area however it is harder to break into. On the other hand as @MichaelRheume points out, there comes a time to make a decision.  I do find this thread helpful in my decision making process.  Here's where I am so far:     Both locally and out of state require building a team.  Both require research and relationship building.  If I choose out of state, then I would have to rely on technology ALOT more. Things such as skype and video conferencing.  Both require in person research to get to know neighborhoods, spot checking to see that things are getting done etc....  This is where it gets tricky.  I have a full time job and a part time therapy practice. I'm busy! If I invest locally, it would be a lot easier to team build and check in on the property. If I go out of state then it requires flight, hotel, car, time off, and rearranging my schedule.

All that said, this is where I am leaning:   I am in the process of checking out markets where I can get a flight out of Long Beach and arrive in a reasonable time frame. I will then determine if it's better to invest in Bakersfield ( a 2hour drive) or in one of those locations. the goal would be to raise enough capital and experience to get back into my local market.

Those are my thoughts for whatever it's worth. 

As a California resident in a similar boat, I really appreciate everyone's comments. very insightful. Thanks

Great info. Thanks for sharing.