All Forum Posts by: Saif Parkar

@Cassidy Burns

Thanks for the advice.  What you explained in your post is kind of my fear and I don't want to fear it so much to where it prevents me from acting.  I also think about that as a barrier of entry in my market because 20% is more than I have right now, but not beyond reality to save after a few months.  But I can put down 10% at the drop of a hat for a 500k-700k multi unit.  There are so many ways to get started, I have trouble figuring out what is best for me and my circumstances.

@Ned Carey

That's what makes it tricky.  Living in SoCal the bar is set very high.  I'm in the Los Angeles area and there are many types of multi-units such as duplex, triplex, some quadplex, etc.  As well as single families with ADUs in the back.  Most of what I have seen on Zillow/Realtor/Redfin has been in the so-so parts of town with the occasional fixer upper closer to the more desirable areas.  My challenge is finding a place that will cash flow or at the very least just break even so I can at least live cheaper than renting which would in turn allow me to save more aggressively towards property #2.  There are a lot of variable that I am still trying to understand in my local market (as massive as it is).  I am treating my first deal like the real life intro to real estate that it will inevitably be but at the same time, I don't want property #1 to be a massive mistake.  Thanks for the tips.

Hey there BP Gang.

First time poster, long time lurker here on BP Forums and all things BP in general.  As most people who are just starting out in their real estate endeavors, I find myself struggling to decide on what and where my first deal should be.  I live in SoCal, where properties are expensive but have lived in the area for 11 years so I am somewhat familiar with different areas surrounding me.  Conversely, I grew up near the Washington DC area and am somewhat equally familiar with that area as well although I have not lived there for quite some time but visit frequently.

I am caught between having my first deal be in my own back yard in SoCal or investing out of state back in the DC area (or anywhere else for that matter).  I am interested in multi units in SoCal as my first deal since it knocks out having a primary residence and a rental in one property but think more broadly when it comes to out of state investing.  But as of now, I have been looking at multi units mainly.  Throughout my period of educating myself, I have been learning what I know, what I don't know and everything in between.  Once of things I am sorely lacking is the "who I know" and that is why I am making this post.

I am at the point where I can feel myself getting overwhelmed but I try not to let it get to me because I understand that I am a beginner and these things take time.  I have made a goal for myself for the year 2022 and plan to meet that goal.  I am just at the point where I need to branch out and start meeting people whether it be online or in person or both.  I would greatly appreciate any and all advice.  I'm happy to answer any questions you may have.  I'm just trying to put myself out there.  Thanks!