All Forum Posts by: John Lee

Welcome @Ismael Souley!

You should check out the various groups and meetups where you can meet other local investors. There is one in Lake Forest near you, they are meeting next July 18 at Round Table Pizza in Lake Forest.

Check out the Real Estate Events and Happenings (forum category in the Marketplace). Also, you might want to check out OCREIA and FIBI -- a couple of REI groups that meet in Irvine.

Welcome @Mark A.!

I'm in the same situation as you, lurked and learned for a while and then posted up my intro recently. I definitely second the suggestion of taking advantage of all the resources on the site. I have downloaded all the free .pdf's and purchased almost all the books. I've listened to 30+ podcasts in just over a month (I drive a lot). There is a wealth of information to explore.

Contribute where you can on the forums. I stick to answering simple questions since I'm pretty new to REI, but hope to be more helpful as I continue to learn.

I'm in a similar situation as you, as I am currently carrying 2 mortgages (one with a second person on it). I also started a new business a year ago. It is doing well, but the income doesn't count yet. I'm also in the SoCal inflated real estate market, so having even 200k to invest will not get you far here (that's one down payment for a lot of properties).

You should check out Brandon Turner's podcast on real estate investing with No or Low Money Down (BP Podcast #92). He has a book on BP as well. It's not a how-to book, more a book on opening your mind to find creative ways to finance real estate. Partnering with others is a good strategy. If you can find someone in your circle that is willing to carry the loan, you can exchange that for an exchange of equity in the real estate and profits. Of course, it's probably a good idea to have them contribute some $$ into the down payment as well -- structuring the partnership is all about figuring out what is fair for both sides.

Let me know if you want more details. I currently have one deal using this strategy where we have an offer accepted and are about to go into escrow. Looking to buy 5 more properties using this strategy by the end of the year. Key is to have a good deal to begin with and being able to explain how it's a good deal to a potential investor.

Think of it like an eBay for short-term home rentals. vrbo.com is the website. They were combined with Homeaway.com and recently bought by Expedia. Along with airbnb.com, they are the biggest players in vacation rentals/short-term home rentals.

@Dave Visaya - Thanks for the welcome. Looking forward to continuing to learn from everyone here. I hope to contribute as well, probably more so after I get some experience under my belt!

@Peter Mckernan - Already a member at several REI groups. Joined the group from your link and hope to join the meeting on June 20.

@Polar Prutaseranee - I've seen several of your posts since you are in my area, you seem to have good experience and provide a lot of helpful information. Have a partner that is interested in flips, but he is looking to do deals in a couple of months. Currently, I'm looking into buy and hold rentals for STR (SFH) or LTR (Multi-Family).

@Jo-Ann Lapin - You're right in my neighborhood, I live on the Santa Ana/Tustin border. Hope to see you at some of the local meet ups.

John Lee, a new investor from Southern California. Currently own one rental property and looking to expand rapidly! My goal is to generate a 6-figure passive income within 5 years. I have been soaking up information here in the short month or so that I have been here (listened to 30+ podcasts, read articles, participated in a webinar, and ordered every book). I also appreciate all of you on the forums who contribute, as I have learned just as much from you as from the other resources on this site. As a thank you, I have included a link to a spreadsheet I created that allows you to compare 4 properties side-by-side, with functionality for long-term rental, short-term rental, flipping, and BRRR evaluation. This is version 1.0 so let me know if there are any errors or improvements that can be made. The flipping and BRRR functionality is basic (BRRR will have some errors in 1-year and 5-year returns due to loss of rental income during rehab). Also uploaded this file to the FilePlace.

https://1drv.ms/x/s!AjEuXEl5QkUVhyMH1MvhReSwXbgI