All Forum Posts by: Kristian Orphe

 Thank you for your very quick, honest and detailed reply. 
This information is incredibly helpful! 

So about the self-sufficiency test, lets say I didnt want to live for completely free and my wife and I are willing to contribute a significant amount to the mortgage (between $2000-$3000).

Would this seem more realistic if I find a property with a vacant unit to live in?

Hello everyone.

I’m looking for an investment Agent who can help me live my dream of living minimum to rent-free.

My goal is to purchase a Triplex or 4plex in the Los Angeles or Inglewood area live in 1 unit and rent out the other 3. I am hoping with the high rents in the area I can live rent free or under $1000 a month.

Challenges: the only challenge I’m having is down payment/closing costs as I do not have much saved in looking to take advantage of a down payment assistance program. Other than that I make decent income (approx. 110k/yr) and currently live with family rent free.

Knowledge: I do have an active real estate license and although I do not work under any broker, I understand the ins and outs of property management. Including landlord obligations, leasing and vacancies. I also know a bit of cosmetic construction techniques like sink, drywall, cabinet installations end can even put together a small team if needed.

main question: Does anyone know a real estate agent who can help me find a move in ready house in LA with minimal repares(preferably none) where the rest of the units can fund the mortgage. Or should I leave this dream alone? Any tips/advice help as well!

thank you

 Excellent advice! I didn't consider seller financing. Thank you, I'll be sure to keep you in mind when I get to the next step!

 I sincerely appreciate your advice. Seems like I would have to tweak my strategy and maybe invest in cheaper out-of-state markets.

 I was afraid someone might say that as I was thinking the same. I've already prequalified for 500k but they're asking for around 50k down (including closing) and that really doesn't fit my schedule or goals. I suppose a hard money loan would still require excess money down? Maybe California isn't my market.

Hey BP Community,

I was hesitant to ask at first but after reviewing a lot of other posts I thought I would just come straight out and ask for help. So about me: I'm currently finishing my bachelor's program for Business Administration and waiting for my Real Estate License application to finish processing so I may take the exam here in California. I realize this was not necessary to start investing, however, I figured it would help me get over the fear of investing in my first property. I work in IT and can assist anyone with anything from building a website to computer/cellphone repair. I gross about 80K a year from my full-time job with almost no financial obligations besides my car expenses. I'm OK with saving money, but far from the best. My point is: that I can pay and would rather not have to save up a crazy amount of money. Most importantly, I'm ready to take on risks.

The Delima:

So I believe I am ready to buy my first investment property but my objective is to do so with 100% "other people's money". The strategy I'm interested in most is BRRRR(multifamily), fix-and-flip, and eventually STR(short term rentals). Recently, a semi-distressed owner offered me a house in Los Angeles (Jefferson Park) for a little under-market value (~700k). Similar houses being flipped in the area are selling at around 1.1 million ARV.

The Question:

How can I make money off of the described opportunity? Any way possible, BRRRR, Fix and flip, STR anything. I would just hate to lose this opportunity (if it's even good).

Is there anyone willing to help a newbie find deals and get into investing? (Essentially hold my hand.)

I have around 10k to invest. What should be my next move?