All Forum Posts by: Kaz M.

Hi Scott. I live in the peninsula and its very expensive also. It will be interesting to hear what others have done in this market to start out. I am starting to look at the east bay. It is not as expensive as the peninsula but very expensive if you are comparing to out of state. Good luck with your first step.

Hi Josh. Good to see another investor joining from the Bay Area. There is much to be learned from this site. Make sure to listen to the podcasts. They area great.

Welcome Aaron! You came to the right place. Be sure to check the podcasts. They are wonderful.

Welcome to the community. If your cousin is already in real estate investing, why not hang out with him so you can learn more. Doing it will probably be the best learning experience. He can maybe show you the ropes since you are so willing to learn. Also be sure to listen to the podcasts when you are not hanging out with him. Good luck!

Hi David There was a great podcast with Terry Adams on podcast#134 about getting to know the property managers in the area you want to buy. PM has a very good info on what kind of situation the owners of the properties are in. Whether they are just tired of holding a property or they are not spending the money to maintaining etc. they have the insider knowledge of deals that are offline. Check it out. It was very interesting podcast.

Hi Jesse. My suggestion will be to find a great deal. If the numbers don't work look for another deal. No need to try to make a number work. HML will probably only lend to a good deal also they don't lose money also. You will need to have around 30% of the purchase price beside the HML so need to have your own cash or private money (family or friends if you don't have a network of investors).

@Gabe C. I agree. Definitely seek legal counsel. But with that said, its always educate good to yourself before you talk to professionals as it will make you look better and there is no point if you don`t understand half things they are saying to you. You need to be able ask good question. 

On podcast 109, Scott Smith has some good info on how to setup a business entity for asset protection. Check it out. It will definitely help understand some of the legal aspect of things. But go talk to your lawyer for sure.

Welcome @Tabi Traughber!

Glad you joined. BP is an excellent place to gain more knowledge. 

Good job doing the flip already. But if there is cash flow, might be better to hold it. OTOH, if you needed the capital to further your RE journey, then cash in and snowball it into the next deal! (1031?)

Congrats on finding an opportunity and taking action. You definitely need some people you trust there in the ground over looking the project if you can't be there yourself. But sounds like you have family there so that should be big advantage. Network with people there and get a good team together. Good luck!

Reading the ultimate beginners guide will probably be a good start. It will give you the overview of the RE landscape. From here you can decide on which subject you want to dig deep and go from there. Also podcasts have a wealth of good information. I would listen to it as much as possible.