All Forum Posts by: Myles Coles

Thanks andy and alex for the advice ill read the article and look into riverside. I love biggerpockets!

I am wondering where I should look to start my investing journey. Im located in beautiful sunny LA. If theres anyone has any suggestions on the area I should focus my efforts upon.

Ive thought about contacting a real estate agent to help answer my question but im truthfully not sure if that would be the best of decisions.

Thanks, Myles.

wow the things you learn on biggerpockets. Thank!

I found this Duplex converted into 3 units. Tax rolls show 2 units, 1 bed 1 bath each. On site they have 3 units (1 unpermitted).

My first question is by one of the units not being permitted will that hinder me in any way or can i still rent it out to someone.

My second question is in the description for this complex is says the property is currently in REAP what does that mean as well?

Thanks for the help!

Iv been doing the most reading i can and ive learned a lot. I found a 3 unit complex

Unit #1-3bdrm 1 bath

Unit #2-2bdrm 1 bath

Unit #3-2bdrm 1 bath

Unit #1 is in the remodeling stage of getting a new kitchen and bathroom so ill be able to up the rent even higher after purchase. Its going for 415,000 theres no way id pay full price. Ill try to talk them down maybe 20% or 10%. Its in an area i know that is decent with a middle class cost of living. With all 3 units ill be able to net in roughly 4grand a month from tenants hopefully.

This is all based on speculation seeing as i havent looked at any pictures or visited the complex. Im pretty sure im moving to fast and should learn a little more about the trade, it sounds like a great catch to me please let me know what you all think.

That post was very helpful and i appreciate the hasty response!

Luckily i havent gotten into any debt so far so im good in that end. Im trying to own a multi-family complex first but im unsure with how much money i should start with. Is money the only resource that i really need? What are the preleminary steps i should take to ensure my success. I want to make this my primary source of income. So technically speaking i want to be a landlord.

Im 19 years old looking to get started in owning some real estate. I need help getting started, what i mean by that is i need to know the steps i should take to get started as early as possible. Should i save money, should i talk to the bank? Im located in Los Angeles and ready to learn. Please help.