All Forum Posts by: Account Closed

@Yonah Weiss

Thank you for the replies!

@Yonah Weiss

Since my last reply, I've essentially resolved my funding and credit history issue. I should have funding secured for the area I'm looking at in the LA area. 

I will be in town next month, if you would like to connect. 

@Yonah Weiss, Thank you for the reply! And thank you for your support sir. 

Right, I definitely expect to take full advantage of that VA loan.

The very first thing to come to mind for me was to do a house-hack. My only concern is getting the funding for where I need to be, which is WeHo area due to work. (I'm senior management for a life insurance agency, transitioning to LA). I suppose I would have to move out a little further to maybe Los Feliz actually, which I wouldn't mind. 

I know multi-family properties are pretty costly in LA. I'm more than confident in my ability to execute what needs to be done and doing my due diligence on finding the right property. The only main concern at this point is connecting with a lender that is backed by the deal and not FICO. (As I am in the process of repairing minor credit repair). 

Thank you for that meetup tab! I'll definitely go to one when I come to town next month. 

Hey there BP Family! This is my first forum on here and I would be incredibly thankful for any kind of advice on what I'm looking to do.

I'm a 24 year old Marine Corps veteran living in Chicago looking to move to Los Angeles this summer. I do understand that the barrier to entry in the LA market is much higher than Chicago, which is why I am seeking advice in this forum. Outside of wholesaling, what would be my lowest barrier to entry to kick start my real estate investment in LA? Or the most effective?

My resources include:

- The VA Home Loan

- By the time I move, roughly around $30K-$50K of my own working capital

- A real estate partner and mentor based out of Chicago

- My brother, a real estate broker who I can go to for access to MLS

- Currently trying to build relationships with lenders

I got out of the Marine Corps at the beginning of 2015 and have spent since then learning everything I can about real estate investment before trying to pull the trigger on anything. I have been networking as much as I can (as I live by the philosophy, "It's not about the grades you make, it's about the hands you shake!) So if we have any LA area real estate investors on here, I would love to connect with you when I'm in town. 

I am currently pursuing wholesaling in Chicago and just recently began. I have built my cash buyers list to about 50 people and am now ready to build my inventory of properties to wholesale in Chicago before I move.

What's the wholesaling market like in LA? I decided to pursue wholesaling first so that I can learn as much as I can about real estate and then gradually progress into flipping and acquiring rental properties.

Any advice for a new LA investor? Areas to stay away from? Areas to be in? Reputable lenders? Popular meetups or investor associations I should know about? Anything!

Thank you in advance guys.