All Forum Posts by: Peter Mckernan

Hey @Russell Cruz

The only meetup in your area is in Riverside at The Mission Inn. This is held every last Wednesday I believe. It is run by a few guys that started their own hard money investing company.

Hello @Russell Cruz

Welcome to the site! I have many of my coworkers that live in Eastvale. Glad you made it to the site, which can give you great knowledge and a great community to support your real estate investing career wherever you go.  

@Erick Brownfield

Property management is a good stepping stone for other real estate jobs because you will be working with tenants, leases, and other aspects that tie into the meat and potatoes for real estate. Even without your real estate license you can get experience working for a property management company and then shifting to say, an agent once you get the license.

The more experience you have the better and the better way you can pick from on what you want to do with real estate.

Hello @Erick Brownfield

Welcome to BP! It sounds like you are ready to breakout of your current job and get into something that you feel would excite you even more! In regards to real estate and jumping in, there are entry level positions that you could tap into prior to accomplishing your real estate salesperson license. 

You could look into working for a bigger property management company to get the hang of property management and see if that would be something that interests you for buy and hold properties. You could work for a investment/flipping company part time, find out how to find deals, and then birddog for them. Another option would be to work for a real estate office for a few months prior to getting your license and get a feel for how to perform as an agent.

Hello @Chris Mattingly

Welcome! This site is great for people getting into the real estate investing world to people that have been in the industry for many years. This site brings a great wealth of knowledge and helpfulness to investors. 

There is a meet up at the local Round Table Pizza in Lake Forest that would help you define a path for you and your wife for investing through networking at the meet up. The link is below and it happens every third Wednesday of the month. 

http://www.meetup.com/Orange-County-Real-Estate-In...

Hello @Dawn Curry

Congrats on getting into the investing mindset! There are a few ways to get into the game at 5%, you can buy a property with a conventional loan with the 5% down and live in it for a year, once you have had it for a year you can move out and get someone into with a rent price above your operating expenses (i.e. vacancies, maintenance, and if you want a management company). Those operating expenses include the mortgage, taxes, and insurance.

Another way would be to find a duplex and house hack the property with living in one side and renting out the other side. That may be uncomfortable for the time you live there to live next to a tenant; however, if the price point is good you can move out after that first year and have a higher gross income due to the two unit rental market then the SFR rental market.

Good luck! 

Economic Situation/position

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Equity

Cash Flow

Exit strategy 

Hello @Melissa Nash

Welcome to the site! It sounds like you have a ton of background in the investment world! If I can work it out with my schedule I may have to swing by that seminar! 

Hello @Elena Z.

Welcome to the site! You will have to assess the costs of HOA, association fees, and any other expense. These are expenses that can cause you to look for a house in an area that is not as nice as where the condo is located; however, on that note you are better office making sure you are in the safest community as you can afford. That is especially true in Los Angeles.

I would say stick with a safe community even if that means paying a little higher fees with housing.

@Kenny Ho

Welcome to BP, this community is so willing to let you pick their brains and are always willing to throw in some knowledge to help you out in any situation. This is a great place for you to come to for help and learning through your investing career. It's awesome that you are getting into real estate investing and it sounds like you are well educated outside of real estate. You can just apply those principals that you picked up to accomplish your BS and put them to work on real estate investing! 

Good Luck!