All Forum Posts by: Mark Taleon

Hello BP investors. I am just starting out my REI journey and still learning the ropes of everything. My family is currently undergoing a dilemma with a paid off property in San Jacinto, California.

Heres the situation, and let me know what things to look for, how to come about this situation, what could be the best possible strategy to use, etc. 

My grandpa currently owns a SFH in San Jacinto, CA, bought around the 1980's for max $500k (idk the actual price) and it is actually paid off. He has someone living in the property (my grandpa's wife's daughters niece) (kind of tricky there) that only pays him at least $800 a month. Nobody outside of our bloodline knows that the house is paid off. Since my grandpa's wife is passed already, he has full control of the property, but if he were to sell the house, he would have to pay his wife's family a percentage of the sale, but he doesn't want to do, he would rather take out some type of loan (what loan is best in this situation?) and pay them off with that, BUT if he were to sell the property, he would rather much sell it to us (his family).

so my question here is if I were to bare interest in buying his property (it would be my first) so it stays in our family line, what would be the best way to purchase and finance it (possible house-hack or LTR if I were to purchase it) ? If my grandpa went the route of selling and paying his wife's family, what kind of loan should he look into? 

I am totally new to REI. Im here in Southern California, I wanna know how the market is here in terms of BRRR's and mid-long term rentals. My goals with REI is to generate as much cashflow and appreciation as possible, so I can get out of the 9-5 routine, build wealth for my future, and have as much time for myself as possible.
Is Southern California a tough market for beginners? What should I expect and watch out for with these strategies in Southern California?

Hello Bigger Pockets Community, my name is Mark (24 y/o) , I currently live out here in California, right in the middle of LA county and Orange County. I am a complete newbie to real estate and I'm looking to make a switch in my life and taking part in an industry that can set me up financially for the future and forward. 
I am currently taking a course for a real estate license ( I know, different and not really necessary for real estate investing) for the sole purpose of commitment and telling myself that if i sign up for it, I am obligated to learn it, take in as much information as possible, and make a career for myself. I've also been listening to the Bigger Pockets Podcast and Real Estate Rookie (I've actually found out about Bigger Pockets from Real Estate Rookie, funny), and some other podcasts that dives into real estate investing. The one thing I've heard multiple times that has stuck with me was hearing that the sooner, the better. Sounds cliche but its definitely true. I do plan on investing by next year 2025, but I do want to increase my knowledge a little bit more and possibly find a mentor and work with one just to get my feet through the door, and start investing by next year. 
From hearing different strategies like BRRR, Fix & Flip, House-Hacking, etc., I've gained most interest in Mid/Long-Term Rentals and BRRR's, and I would most likely want to try to Owner Occupy a House-Hack as my first property.

This is just a short introduction gist, still learning 1% everyday. If anyone would like to DM me or respond to this post feel free, drop some advice and knowledge please, I love hearing different experiences from others which is my favorite way of learning. I hope I can use this platform more often and build great relationships with everyone.