All Forum Posts by: Kevin Craig

Hello BP community!

I am a new real estate investor considering my options on how to start and get into the industry. I am in the Southern California inland empire area. I am trying to decide between seriously pursuing my first property as a long term rental or an AirBNB property. I am looking for some advice as to how people think it would be a good way to start my RE investing career. My area is expensive and a little out of budget for the money that I could put into the property so I may have to look into investing in area that is farther away from me or potentially a different state. In my area, if I bought, I would be trying to break even with long term rental and hoping for appreciation (which I know will happen) or with AirBNB I would be able to profit and generate a little bit of cash flow for the area I could invest that has a lot of people flocking for tourism or to get away from the city. Outside of that is investing out of state... which I know there are a lot more benefits and money making opportunities than where I live.

Any thoughts on a way to start would be appreciated.

Thanks!

Thank you for the ideas! I am going to start looking and see what is out on the market! Thank you 

@Guy Oldsand @Jo-Ann Lapin 

My name is Kevin and I have been on bigger pockets for a good amount of time now and want to take some action. I have been looking at options in California for buy and hold properties to cash flow. I have considered doing a house hack as one option but it makes it hard here because properties are pretty expensive in my area in the inland empire and would require a lot of cash down for a conventional loan through a bank or financial institution.

I have recently started looking at mobile homes as a option to invest in as a rental buy and hold. I know that they do not really appreciate in value so I would be mainly looking just for the monthly cash flow on it. 

What are the ups and downs about a mobile or manufactured home? Do most parks let you rent it out to people?

As far as a I know you do not own the land in most cases correct? Has anyone ever invested in it and if so how did it go for you? 

Any help and advice would be great! 

Thank you!

Thanks Michael Thieling I have modeled it out with all the expenses including pmi, taxes, insurance, and repairs. I am going to have to just get all the number rolling and see what I can get approved for. Thanks for the advice

I have been on Bigger Pockets for about 6 months now just trying to learn and take in all the info I can. I am looking to invest in the high desert of southern California in the Victorville area. I am most likely going to try and get approved from a bank or credit union for a loan. I am still young and in a spot where I would classify this as my primary and rent it out though. I want to also save for a house to buy and live in my self in about a year or two as a house hack possibly. Any advice what percent I should put down. I have not got a pre approval yet but looks like I could make it work with as low as 5% down. Should I put more? I want to get into real estate as a long term investment so I don't mind putting the money into the property and letting it sit. I live in Upland Ca and work in the opposite direction of Victorville so a house hack would not really be possible on a duplex or something along those lines at this time and location. 

This would be down the road for me, but also any opinion on investing outside your region? Other states and having someone manage it? 

Thank you bigger pockets community. Any advice and ideas are greatly appreciated.

Thanks @James Wise! I will have to read up on that before my first move.

Thanks @Jesse Peña can't wait to see what there is to learn! Great success to you also!

Thanks @Logan Allec! I had not thought of house hacking quite yet but that is something I will definitely want to look into. FHA is something that could definitely work for me. It would be a great way to get started also. Thanks for the advice!

Thanks @Terri Lewis. That is some great advice! I have been trying to go through everything and soak it all in. Thanks!

Hello everyone,

My name is Kevin Craig and  I am a new member to the BP community. I want to start real estate investing in small multi-family properties (duplex-fourplex). I am interested in flipping houses also. I have been doing a lot of research and reading but now I am just looking for a way to get started. I have some money that is saved that could be used toward down payment but it is very minimal. I want to eventually build a portfolio of 2-3 year hold properties while possibly flipping. Any advice for me to get started with funding or anything else would be greatly appreciated! Can't wait to see what I can learn!