All Forum Posts by: Roman Rida

@Rudy Vazquez Thank you for your insight! I like your suggestion of doing both!

Hi Biggerpockets. I am a new investor out of Los Angeles, CA and I was wondering if its better to save up for a primary residence prior to purchasing investment properties out of state. I have a 100k nest egg that I want to use to invest or buy a home and the price of real estate in LA is astronomically high, even if I want to house hack. I would need to purchase something around the 850-1.1M range to make this work, as I have a family to support and I am not looking to move to Compton, Inglewood, Long Beach or deal with living three hours north of the city. I currently pay $3500 in rent and would obviously love to pay that towards a mortgage, however I am wondering if it makes sense to buy a few rental properties in the next 90 days in the midwest, and begin building a buy and hold cashflow portfolio that eventually will enable me invest and buy locally. I like the idea of starting off with a single family house and then buying a duplex or triplex as my next move, and I wanted to get some feedback from you guys to see what you would recommend in my situation. Also, I am a little nervous about it being an election year and the effect this can have on the market, so I am wondering if its risky buying in the midwest.I plan on holding on to these properties and I feel like I can wether a storm, should it occur, however buying high and waiting for it to go back up doesn't sound exciting. Thank you for your feedback!

@Julie Toh Thank you Julie!

@Nicholas Smith Thank you for your message.I would love to connect in the upcoming weeks! Also, in your message you mentioned your an investor yourself. Do you invest under a LLC or personally? I love what the LLC brings to the table in terms of protection, however I hear banks dont loan to LLC's for residential projects. Do you have any thoughts on this?

@James Wise Thank you for your message! I really appreciate all the information and I will look into those guides! 

@Nabil Suleiman Thank you for your insight! Do you know of any good meetups coming up soon locally?

Hi Bigger Pockets Team! My name is Roman and I am an Account Executive at a cyber security software company. I am originally from Vancouver Canada, and recently moved to Los Angeles to grow my career. I am newbie when it comes to REI, however I am looking to jump in full force and change this as quickly as possible! I have a goal of buying five properties in the next 12 months, out of state, and looking to learn how to better analyze markets, deals, and overall investment opportunities. I am mostly interested in buy and hold rental properties and I am looking forward to building partnerships with Real Estate Agents, Property Managers, Lenders, Contractors, and Wholesalers in Alabama, Indiana, Missouri and Texas. I am 32, have great credit, and have been fortunate enough to accumulate some capital to invest with and I want to make sure I do it right! I have read a few of the Bigger Pockets recommended books, listened to a few podcasts, and I feel ready to take the next step, whatever that is.

I welcome and appreciate any guidance on where to get started, tools to analyze deals, connections, and anything that could help me grow my career, while offering some value back to you guys!

Looking forward to connecting!

Roman