All Forum Posts by: Kurt Kline

Wow, thank you all for dropping such a diverse set of knowledge on me. I now know more than enough strategies to save up money for my first deal. Much appreciated. 

@Nick Alvarez Thank you for the offer. I will be in touch. 

Thank you all for your input.

@Kenneth Bassettthank you for synthesizing all of the different responses and adding your own take. I think the Roth IRA might be a good way to go for now. :)

Hi @John Van Uytven

My question is less about how to invest in 401k/IRA accounts. My question is in regards to the strategy of where to put my money in order to grow it the fastest while still being able to access it when I need it in order to invest in real estate in the near future.

Option 1: I invest my money in 401k/IRA accounts, but it may be more difficult to extract that money in order to invest in real estate

Option 2: I keep piling my money in my savings account and I have easy access to it when I need it; however, the value of my money is decreasing because I am losing to inflation

Option 3: ??? Maybe there is a best of both worlds option where my money can grow but it is still very liquid

Thank you for your reply. 

Hello,

I started researching real estate a few months ago. I have read a few books, listened to the BiggerPockets Podcast, and attended a local real estate meetup. I am 23, and I just started working at a tech firm about a 1.5 years ago. Currently, I have about 27k in my savings account, and some change in my Roth 401k. 

My question is: What is the best way to save up money for my first deal? FYI I am hoping to score either a 3 or 4 unit multi-family home that I can live in and hopefully live rent free. I just read Investing in Duplexes, Triplexes, and Quads by Larry Loftis and I believe he proposes an excellent strategy. 

I know that I can save capital by just piling it up in my personal savings account, but my gut tells me that that idea isn't very smart since my money isn't growing at all. I would like to invest more into my personal 401k and create an IRA, but I also don't want to limit my chances to invest in real estate if those types of accounts create complications.

I am hoping to acquire my first property within the next 2 years. I read a few posts regarding a Self Directed IRA/401k, but it seems that maybe that is a better strategy if I already have more money in my IRA/401k? Or maybe there are options I am not even considering.

Please let me know your thoughts, BiggerPockets community! 

Welcome @Kevin Robinson! I just joined BiggerPockets myself a few days ago, and already multiple individuals have reached out to me and offered to provide me insights into investing in Orange County. You have made a wise decision. 

I am located in Irvine myself. I am a complete novice in real estate in general, but I am hoping to learn as much as I can from experienced investors and agents like yourself. I would recommend visiting meetup.com if you are not already a part of it, because there is a countless number of real estate investment clubs that you can join in order to network with other investors. 

@Kevin Smith Welcome! I just joined BiggerPockets a few days ago. I reside in Irvine. I am a complete beginner, but hopefully we will cross paths along the way!

@James Wise Thank you, sir! It is a great pleasure to have access to so much knowledge. 

@Polar Prutaseranee That is great advice, thank you. I hope to see you out at one of the meetups!

@Logan Allec Thank you! The podcasts have been blowing my mind so far. 

@Joe Homs Thank you, I will definitely check out the meetup in Lake Forest, especially if it continues to be at Round Table Pizza - you can never go wrong with pizza. And I would love to meet up and talk about investing. I have been listening to as many podcasts as I can, and reading books about real estate investing, but I have no idea what the OC real estate market is like. What is the best medium to reach you through in order to set up a meeting? 

@Brian Eastman Thank you for the sage long-term advice. I will definitely keep that in mind. 

@Polar Prutaseranee Thanks for your kind welcome. Do you have any suggestions as to how a beginner in Orange County can quickly get the ball rolling on real estate investments? Are you also a part of a meetup or organization?

@Jeff Greenberg Thank you, I will check out that meetup as well!

@Mark Nolan Thank you! I have a lot to learn. 

Hello BiggerPockets,

I recently had the epiphany that I am not going to be able to live the life that I want to lead if I just continue putting the typical 8-10% into my 401k. 

I am 23 years old, a 2014 graduate of UC Irvine, and I currently work at a software and consulting company in Long Beach. 

My current goal is to get started in real estate by acquiring a multi-family home where I can utilize a FHA or 203k loan to live in and have the tenants cover the expenses. Hopefully this will allow me to build capital and get my foot in the door for other opportunities such as flipping or acquiring other buy and hold properties.

I hope to connect with other investors in my market in order to get the scoop on Orange County. Thank you all for creating such an inviting and beneficial tool.