All Forum Posts by: Anna Shaver

@Eric Taylor   I think it also has to do where you are at different points in your life and what your current needs and goals are.  Until recently, I was more interested in increasing net worth and just let real estate happily grow quietly in the background.  Now, I am looking at also building in an additional revenue stream.  When we are closer to retirement I will be looking at it for income.   

@Phillip Gonzales   I did have my license but I let it go and went back to what I did before I did real estate.  I enjoy buying and holding houses more than being a realtor and my w2 income supports my real estate habit/hobby lol.. my husband laughs at me because my hobby makes us money.  He isn't complaining though.  I don't regret it because I worked with both buyers and sellers and was able to get good experience to understand the process from both sides.  By following through with it I have a better appreciation for the work involved.

@Phillip Gonzales hang in there. With W2 income it is much easier to buy real estate. It is also a more stable income with the little one. I second the buy a duplex idea, it would achieve multiple goals. The knowledge you gain from the classes is helpful even if you don't get your license. You can also take the CRS 2 day classes which are intended for Realtors even if you don't have a license. At least you could when I did about 7 or 8 years ago. They were a little confused about non realtors taking the classes but checked and confirmed it was ok. The investment class was a favorite of mine.

I am really happy to have found this community.  When I first started in real estate acess to good information was much harder to find.

 I have only invested close to home.  The first property cash flowed in the beginning until we took money out to buy more.  It does cash flow now but not much.  We have bought with the intent to have the properties appreciate over time with very low out of pocket.  The goal was to make extra payments and then have the income for retirement or to roll them into multifamily. Lots of people put money into retirement accounts every month and don't think twice about it.  We figured if it was a very small amount each month it was fine.

The properties have appreciated nicely and we are happy with it.  Going forward to buy more we could invest in properties within an hour where the costs are lower but the areas are not very good and so I am looking at other options.  I enjoy the benefits of higher quality tenants and will need to look elsewhere for a lower price point.

@Mike H. 

I agree, rentals need to be solid, sturdy, and clean but, not as fancy as a flip.  Granite in a rental can be an expensive mistake, if it isn't kept sealed.  It can get grease stains and tenants aren't as careful as an owner.  Doing two estimates is a good idea.

@Jerry Poon

I have been investing for about 18 years and watched California's market go up and down over time.  At first it was because we could keep the property when we moved up and then because I like having assets grow without work on my part.  I use property management with the exception of one that I manage.  Because of the area we are in has been uneventful.  We would like to retire early if possible and our real estate has kind of been in the background but I am now looking at it as a potential for a revenue stream.

@Chris Clothier

Thanks for the census link and great information.

@Jerry Poon

I too am interested in investing out of state. I have a condo and SFH's here in CA but agree it is expensive. Just some food for thought. You will probably need to think about what will be important to you. Are you interested in buying and holding. If so, for how long? The impression I am getting is that some people hold for 5-7 years then roll the property to take the gains to another market. I hold for long term.

Are you looking for completely rehab'ed houses or decent, maybe a little older, clean, houses in a little better neighborhood that will be an easier rental to hold?

Some things I would like to take into consideration:  different market expectations from tenants, multiple industries for steady jobs, and costs vs rents, to determine where I should go.

Thank you @Hattie Dizmond I will check out the podcast now. So, as long as I am not selling it I should be fine.

Thank you @Hattie Dizmond, you have clarified a question I have had as well.  Sorry for a noob question, what do you mean by not giving up your right to occupy the property?  What would cause this?