All Forum Posts by: Kim Stofan

Hi @David Hiltbrunner Glad you found BP! There's an unlimited wealth of knowledge to be found in these pages to help kickstart your journey!

A few words of advice for you...

If you haven't already, make it a priority to get out a local Real Estate Investors meet-up. Interacting face to face will help tremendously with forming those critical relationships to aid your progress. Experienced investors will want to help you if you show initiative, drive, and genuine interest. Focus on how you might be able to help them in their business!

Avoid the "shiny object syndrome" by narrowing down your niche as soon as possible. Be very specific about what you are looking for.

Use the BP calculators every day to run the numbers on prospective deals. With lots of practice you will be able to identify a good deal quickly and jump on it when the opportunity presents itself.

Good Luck!

Hi @Diana Adams Glad you found BP! There's an unlimited wealth of knowledge to be found in these pages to help kickstart your journey!

A few words of advice for you...

If you haven't already, make it a priority to get out a local Real Estate Investors meet-up. Interacting face to face will help tremendously with forming those critical relationships to aid your progress. Experienced investors will want to help you if you show initiative, drive, and genuine interest. Focus on how you might be able to help them in their business!

Avoid the "shiny object syndrome" by narrowing down your niche as soon as possible. Be very specific about what you are looking for.

Use the BP calculators every day to run the numbers on prospective deals. With lots of practice you will be able to identify a good deal quickly and jump on it when the opportunity presents itself.

Good Luck!

Hi @William Kelly  Glad you found BP! There's an unlimited wealth of knowledge to be found in these pages to help kickstart your journey!

A few words of advice for you...

If you haven't already, make it a priority to get out a local Real Estate Investors meet-up. Interacting face to face will help tremendously with forming those critical relationships to aid your progress. Experienced investors will want to help you if you show initiative, drive, and genuine interest. Focus on how you might be able to help them in their business!

Avoid the "shiny object syndrome" by narrowing down your niche as soon as possible. Be very specific about what you are looking for.

Use the BP calculators every day to run the numbers on prospective deals. With lots of practice you will be able to identify a good deal quickly and jump on it when the opportunity presents itself.

Good Luck!

Even if you purchase a turn-key property, you must first spend a lot of time learning to analyze rental properties.  You need to be able to run your own numbers and not rely on the numbers the company is giving you.  Sometimes critical elements like cap ex and vacancy will be left out or will be calculated at much different rate than what you might.  You must also get a home inspection by an independent third party and make sure you get an appraisal.  Good luck!

That is fantastic advice from @Elizabeth Klingseisen.  I would just add that the book Finding and Funding Great Deals by Anson Young would definitely be a great book for you to read.  Make sure you attend every meetup in your area to start talking with active investors and the big players in your market.  Find out what they are looking for.  Then go out and find it.  Good luck!  

Lots to consider when purchasing a condo.  High HOAs fees... however, these usually take care of most of the major cap ex items of the unit.  More volatility in the market value of condos.  Also be aware of special assessments that tend to occur with condo ownership.  Also, be aware of the possibility of the rules and regulations of the condo association changing to not allow you rent the unit any longer.  

Hi @Napoleon Georgatos, welcome to BP!  If you haven't already, make it a priority to get out a local Real Estate Investors meet-up. Interacting face to face will help tremendously with forming those critical relationships to aid your progress. Experienced investors will want to help you if you show initiative, drive, and genuine interest. Focus on how you might be able to help them in their business!  For out of state investing, David Green's bookL Long Distance Investing is a must read!  Good luck!

@Chris Cruz, welcome to BP!  I echo the sentiments of the other commenters on getting out to a meetup and start chatting with other investors in the Sacramento area.  There's a great meet up in Roseville organized by David Oldenburg which meets monthly.  Househacking is definitely a great way to get started.  It really depends on your goals and how hands on you want to be in your investments.  If you want to get a good foundation managing your rentals, a duplex or triplex would be great.  It will offset your living expenses and allow you save up money faster for your next purchase.  If you want to go out of state I'd recommend you read David Green's book: Long Distance Investing.  Good luck!

Hi @Sophia Duong  Glad you found BP! There's an unlimited wealth of knowledge to be found in these pages to help kickstart your journey!

A few words of advice for you...

If you haven't already, make it a priority to get out a local Real Estate Investors meet-up. Interacting face to face will help tremendously with forming those critical relationships to aid your progress. Experienced investors will want to help you if you show initiative, drive, and genuine interest. Focus on how you might be able to help them in their business!

Avoid the "shiny object syndrome" by narrowing down your niche as soon as possible. Be very specific about what you are looking for.

Use the BP calculators every day to run the numbers on prospective deals. With lots of practice you will be able to identify a good deal quickly and jump on it when the opportunity presents itself.

Good Luck!

We are looking at this property as a potential live-in flip.  The property itself is near Roseville, CA.  The owner is an absentee landlord who just wants the property gone.  She's very motivated to get rid of it.  The property itself needs a moderate amount of work.  Most of which we could do while we are living in the property.  It has 3 bedrooms, 2 bathrooms and a converted garage which has another 2 bedrooms and one bathroom (potential househack arrangement) My biggest hang-up is this massive electrical tower that is in the backyard.  It's somewhat of an eyesore but I can get over that.  I've heard rumors of potential health hazards associated with the radiation from power lines.  Does anyone have information/thoughts about living so close to the power lines?  Thanks in advance!