All Forum Posts by: Michael Welton

Matthew Marcley in Riverside it's a very good market. Next to the college is kind of more on the ghetto end of things, a lot of houses that could use work, but the whole neighborhood could use work, you know? The place around here that I think has a lot of potential is right near Central Ave. kind of near downtown. There are a lot of homes over there that are currently being flipped or have been flipped. I would love to get over there but price is around 400 for most of them, when me and my wife would love to get into something around 300.

Thanks everyone for all the feedback. I'm still researching everything and it helps to have a good supportive cast! Thank you all! MW

Thank you Dave Visaya, i'll look into it.

Martin Spielvogel it's still pretty ghetto. The houses are all run down on the South side. Mainly around University Ave. The area becomes nicer if you keep driving though, a little past the 91 and the Mission Inn, and then you are in the Rubidoux area where there is potential for a lot of fix and flips. Only about a 5 minute difference.

I currently actually live right down the street from UCR. UCR is on the North Side of the 215, and a lot of students live in the houses directly around the school. But if you go further North, towards the mountain behind UCR, there are a lot of single family residences there. The houses look a little old, maybe built in the 70s or 80s but I think it's a great area. There's a few nearby parks around them as well deep in the hills, even hiking trails. I think it's a good area for a fix and flip though as about 70 percent of the houses look up to date and like they have been redone. Me and my wife drive through their all the time. Also, about 5 minutes a way from UCR there is this place known as Canyon Crest, near Central Ave. The houses there are really kept up but aren't too expensive. Once again a lot of single family homes. MW

Me and my wife are in the same boat sort of. We're looking to buy a condo as our first property. If you get a condo, usually it'll be on the cheaper end rather than getting a home, so your mortgage will be a little lower. There is an HOA fee usually, but it's maybe about 200 a month. Make sure it's in a nice area so you can immediately rent it out and while you both still go to college you can still be saving money for another home. Whatever you do, good luck to you! MW

I'd say 900 dollars extra a month is a great deal, plus you're just getting started. Keep doing what you're doing. MW

Congrats man! Keep doing big things! MW

Great question Scott. I have a BA in Psychology, and right out of college went into a full time position working with an alarm company. I've worked there for about 2 years now, and it's great. My degree doesn't have much to do with my job, but I think getting the degree taught me to work and study hard. Because of it, I know the time and effort it takes to learn a new skill and I am grateful for it. It allows me to have patience now that I am trying to get into Real Estate. Thank you, Michael

Hello all,

My name is Michael Welton and I'm 24 years old. I've been listening to the BP podcast for about 3 months now, and I'm starting to get more and more serious about making my dreams a reality. A few weeks back, I told my wife what I was thinking of doing and at first she was a little stand turned off by the idea, but then she started researching herself, and now she wants to do it as well.

I've always imagined myself getting into buying and renting, as well as flipping homes. Ever since I started listening to the podcast, I started to see that it could be realistic and not just my imagination.

Me and my wife our currently talking to a realtor and looking for our first purchase. We've been looking at Condos, just because they are cheeper and if it becomes a rental (The Plan) then we could make good income off of it.

If anyone has any tips or tricks, hacks or advice, we will be happy to listen. The SoCal market isn't the easiest to get into just because it is pretty expensive, but we are motivated to start young. Our current goal is to get our first property by the end of this year, and have three properties by the time we are 30.

Thank you in advance.