All Forum Posts by: Ronnie Galindo

@John Freed, Wow my friend! That is a crazy story! I wish my wife would have found a program like you have found to get her Masters. Maybe we wouldn't have racked up $40k in student loans! Anyways, WELCOME! BP is the perfect place to meet your team, learn the ins and outs of investing, and get you ready to invest. I would recommend that you become a PRO member, the reason why I say this is you will want to analyze a lot of deals and the calculators they have built on here are awesome! I have used almost all of them, probably over 50 times! With your PRO membership you get unlimited uses and it saves your analysis (and no, I get no commission or anything for recommending this). 

You mentioned house hacking! That is great!!!!! DO IT! I wish before my wife and I had our first child we would have found a MFH and house hacked! We would be in such a better place. We did a SFH house hack that has gained us around $100k equity but unfortunately we cannot use it due to our LTV too high for banks to give out that equity. We are working on saving and hustling to get some money ourselves to buy another property as either a flip or BRRRR. I am in Norcal so if you would like to connect, message me and I would be happy to help and share what I have learned thus far. Also, book recommendation is David Greene's book on out of state investing! Good luck and see you around!

@Amanda Deisenroth I'm curious as to only having to invest $20k besides the purchase price? Did this include the down payment? Was this a house hack! Keep going with the details! I am here in CA looking to see how others are doing it and am definitely interested in this story!

@Oscar Padilla Welcome! So I bought my primary residence and am currently house hacking it in CA. In two years I have already gained almost $100k in appreciation alone (and thats just from the market and not because I got it re-appraised). Like everyone else has said, it depends on what you and your cousin want to do. I am trying to purchase my first property either as a flip or as a BRRRR (several webinars and blog posts about BRRRR). This way you can get your money back out quickly so you can use it again and again to scale up and get a good portfolio instead of having $20-60k living stale in the deal.

All depends on you my friend. In the end, either CA or out of state will not steer you wrong with real estate investing! Good luck and feel free to connect/message me for any questions or concerns! Take care!
 

@Darius Ogloza thank you, I will be doing my research and will make sure I am doing it all legal, just trying to see if there is a demand for wholesalers here or not.

@Mark Plesha thanks! Yeah I’ve decided to keep my eyes open in my home town to see if there are deals I can wholesale while saving up from my day job to get enough capital to be able to start.

Do we have any Napa investors on here? I am thinking of doing some driving for deals but am wondering who I will have available to market to? I am not positioned to actually buy in Napa but would definitely wholesale the homes I find to investors to help me build up my capital to eventually start my own investing portfolio. Anyone interested in networking?

@Brendan August I am also looking into OOS investing into Columbus. I have built a team as well but so far I haven’t found anything that I can pull the trigger on (a little case of paralysis) but hopefully will overcome that. Let me know if you’d like to connect. I am available to help where I can! Good luck!

@Joshua R. Currently I am house hacking my primary residence here in CA. Already have around 100k in equity! I am going to apply for a HELOC once I complete a few projects (In the middle of replacing the windows and re-landscaping the front).

My strategy is BRRRR for sure because I want to create a portfolio with several doors to ultimately allow me to retire early and spend time with the family. I think this discussion has definitely helped set my mind at ease knowing I just need to work hard and keep focus. It will all work out and not to be in a rush! I will buy my first investment (aside from my current residence) in 2021 for sure!

Thank you all for the advice and the kind words! I read everyone's ideas and this has created a few of my own. I will figure this out plus I will knuckle down for the next 6 months and save so I can build up some reserves. 

Good morning BP,

I have been lurking around the forums and BP for quite some time. I decided to pull the plug and become a Pro member because I am tired of no action in REI. I have listened to 80% of the podcasts, read Brandon's book on investing with little to no money down. I am also halfway done with David's book on long distance investing. I have reached out (through BP) and found a great team (it seems) in Columbus, OH and Houston, TX however I have been hit with the truth. It seems I don't have the capital to invest.

Now I know some of you are like "C'mon, there is always a way" and those are the people I am looking for advice from! I know there are ways to start investing but I don't know how, where, when?! I have around $10k in reserves but that is my whole liquid funds. My brother has some money (around $30k) but isn't looking to be a lender (he wants to make money too, and quick). I live in Napa, CA where the market is too steep for me plus the thought of investing in CA makes me nervous because of how tenant friendly they are here. 

I know there are options. My wife and I make good money so I could knuckle down and pull a David Greene and work my day job (Deputy Sheriff), pick up overtime, and just be frugal and save for the next 6 months to get to around $20-30k then start investing. Or.... Anyone have any opinions or advice for this newbie?

Thank you!  

-Ronnie