All Forum Posts by: Michael Lambert

@Andrew Postell

Andrew, would you please elaborate on this line of your post? My understanding was that 203k was only viable for primary residence. Am I misinterpreting this by thinking that it could be used for second homes and investment properties too?

"Occupancy: Primary, Second Homes, Investment Properties

I have been doing my homework to figure out how and where I want to start with REI and have noticed that the Tucson forum is pretty quiet. There's Davis Monthan AFB, University of Arizona and a new amazon facility going in but there doesn't seem to be much to find on PB. What's wrong with Tucson?

Thanks for the input guys. I would prefer to be able to invest near where I live for the sake of being able to manage the property and being in an area that I have some knowledge of. I'm a little hesitant to want to do a rental in Ca. because I know that its not the most friendly state to landlords. 

Really I need to dig in a little more and figure things out. I don't want to buy a dumpy place in an undesirable area because I can't afford anything else. How does one rate a home/neighborhood to assign a grade to it? I hear stuff like "Class A" and "War zone" and I think it might be easy to tell the two apart, but how do I know where to place a given property in between? What distinguishes an A from a B and a B from a C? 

Hey gang,

I’m Mike. I live in San Diego county and currently work for a wholesaler of electrical components. I'm totally new to real estate and am looking to educate myself. I've been listening to BP podcasts and audio books trying determine what niche I want to pursue. Right now I'm leaking toward a rental property. I’m looking to use what small amount of capital I have to invest out of state. I’ve considered Tucson Az, Houston Tx, and Cleveland Oh, because I have family in these areas but I’m defiantly open to other markets. 

Short-term goals: Familiarize myself with the industry and try and take in as much as I can; particularly in regards to creative finance and locating an ideal property. I made it to one of the local meet-ups in Escondido Ca. at the Stone Brewery but wasn’t able to stick around very long. I would be interested in attending more if there are any scheduled

Long-term goal: I would like to be able to scale the business up into flipping in southern California since this is where I live.

I'm excited to have BiggerPockets as a resource and I look forward to getting to know you all.

Cheers,

Mike