All Forum Posts by: Reggie B Jackson

Thanks for the reply. Yes Buckingham was then exact investment team I was searching for and can’t wait to work with them again. My agent is Lynn who is fabulous.  

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $690,000
Cash invested: $9,000

Triplex, Level C, all 2 & 1s, currently cashflowing, although one of the units is renting below market.

What made you interested in investing in this type of deal?

Was searching for multi-unit properties in the Southern California market.

How did you find this deal and how did you negotiate it?

Househacked using a VA loan.

How did you finance this deal?

VA loan. Lived in a unit for a year.

How did you add value to the deal?

Luckily, two tenants moved out soon after purchase, which enabled me to completely renovate the units and put them at market rates.

What was the outcome?

Value increased to over $900,000 within two years.

Lessons learned? Challenges?

Lessons: Learning due diligence and managing with property management, who tend to be poor communicators. Also the tax advantages and term family planning of LLCs and trusts
Challenges: The initial strategy to BRRRR my way to more properties and doors was canceled when interest rates increased, leaving me stuck on my super low APR. Now I'm in the midst of learning new way to scale my business because BRRRR is postponed for now.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I worked with Buckingham Investments. They broke the numbers down and assisted with the search and purchase. Everything I needed.

Go to meetup.com and find out if there are any real estate investing clubs in your area. Try to attend as many as you can. You'll be able to find people who can share experiences and offer the help you need. Good luck.

Hello Ron. Wow! This is exactly what I've been searching for. A REI club close to Brea. I'll go on the website and join immediately. Thanks for the information.

 Thank you Ayodeji I'll check those books out. 

Thank you Peter for welcoming me to BP. I'm very interested in joining and REI club, but the closest I have found online from Orange County is Torrance, by the Del Amo Mall. Since we're in close proximity, I'd be interested in the three you've been attending. I would love to network and study how experienced real estate investors are successful in their craft. I'm new to the site, but I'm definitely open to chat, so hit me up whenever you have time, I appreciate you welcoming me to BP.

 Hello Ayodeji and thank you for welcoming me to BP. Thank you for the educational advise, which is actually the current phase I'm in. I'm riding as much as can, listening to podcasts and audiobooks, attending seminars, watching YouTube videos, and trying to educate myself as much as possible before I make my first move. I totally expect to make mistakes coming out the gate, and I'm not afraid to fail, but I believe that education will me avoid the most obvious pitfalls. If you have any suggestions on books and any other resources that will help me along I'd appreciate your help. Thank you again for welcoming me to BP.

 Hello Alan. Thanks for welcoming me to BP. I plan on investing primarily here in the Los Angeles/Orange County area. I also, however, have some interests in Houston and Atlanta. 

Thank you Joe for the welcome. Bigger Pockets has already paid dividends in all the wealth of knowledge and resources they have to offer, including the warm introduction I've just received. I just visited your link and join the Orange County REI meet up page. I would love to meet with you at your local Starbucks. I job is flexible so notify me as to what would be a good time for you. Thank you again for welcoming me to BP.