All Forum Posts by: Luis Cruz

@Stephanie Gledhill most is a pretty simple search away in google, some go-to's:

U.S. Bureau of labor statistics https://www.bls.gov/eag/home.h... 

U.S. Census Bureau https://www.census.gov/quickfa...

Rentometer https://www.rentometer.com/

Federal reserve housing charts https://realestatedecoded.com/...

Altos market reports https://altosresearch.com/mark...

Truth be told a lot of this depends on the scale of property you're looking at, as always be conscious of analysis paralysis.

@Nick Louie how did this turn out?

Great deal @Luis Savery! Shows the power of walking away, and sticking to your guns. 

Now that you're a year into it, how have things turned out?

@Jeff Carll I recently relocated to NJ/NY metro area from LA, and I'm also investigating ADU laws here in NJ. Seems to be township to township. Would be great to put our heads together.

@David Weintraub you still the go-to person for this?

The project looks great so far @Timur Salikov!

What would you say are your top 3 learnings from this project (so far)?

Macro: Economic policies (specifically interest rates), Migration trends (state level)

Micro: Population growth, job growth, residential inventory, days on market, commercial construction, absorption 

@Chris Niemeyer this is awesome, great work! Do you mind sharing the info of the realtor? I'm looking for a property in the Cincy area

@Priscila De La Torre

For your first deal, I wouldn't recommend doing a BRRRR or Flip unless you were doing a JV type deal or a split with an investor with some more experience.

Again, only my opinion, though first deal is about getting a base hit and getting the ball rolling. With a first time BRRRR or Flip you're leaving yourself open for a huge risk profile.

Given what you've listed my recommendation would be 

1) to start with a Househack, owner-occupied FHA low can be as much as 3.5% down. Depending on how aggressive you & your husband are willing to be you can rent by the room, or do a traditional duplex.

It's unlikely the other rent will pay the mortgage, but you'll be building equity in the property through loan paydown as well as natural appreciation. If you wanted to get your hands dirty you could also do a live-in flip where you can add some forced appreciation in there too.

With the money saved and the factors above you can really start to build momentum by getting a HELOC, and then invest out of state or elsewhere in CA. Stick with MLS. Craig Curelop has a great book called The House Hacking Strategy.

2) Go straight to out-of-state investing. For a first-timer can be daunting, though there are solutions out there like turnkey properties. David Greene has a great book called Long-Distance Real Estate Investing.

Hey @Priscila De La Torre!

While California has had some net migrations out of state, most of the migration patterns have been happening within the state with populations moving out of the dense urban areas into the tertiary markets & surrounding counties - as has been the case across the US. 

Specifically, in SoCal a lot of the population has been moving out of LA city and into areas like Ventura County, North OC, San Bernardino County, and SFV.

It's interesting you mentioned people moving out of Riverside, from experience with buyers & agents my understanding was that it's been a hot market.