All Forum Posts by: Sergey Tkachev

@Penny Clark - here is a link to the next BP meetup: https://www.biggerpockets.com/forums/56/topics/254...

Also, @Tapan Trivedi runs the Sacramento Real Estate Club, this month's meeting is tomorrow, I plan to attend.  Look it up on meetup.

@Kevin Liu - Welcome to BP!  This is a great place to be.  

Look for passive cashflow groups/meetups in your area, I know there are a few groups in the bay area that help each other invest out of state for cashflow.  There definitely are good options in other parts of CA but it's definitely harder to find them here than out of state.  

Sacramento is definitely less expensive than the Bay Area, but it's become really tough to find the deals that used to be hear a couple of years ago.  I'd say to first determine what your criteria is, what kind of returns, risk, etc you are looking for and go from there.

@Jeff Pollack - I bet the gal you mentioned is who I was thinking about.  My guess is you know her better than I do since you're in the bay area.

@Sherwin Gonzales - have you thought about potentially renting it as a vacation rental (AirBnB, etc)?  If you would like to keep it but don't want the negative cashflow, maybe that will help increase the cashflow?  Obviously it depends on the area and it is yet to be seen how the whole vacation rental plays out in the Bay Area.

Or corporate housing might be another option.  I remember meeting someone from the bay area who specializes in that - they have relationships with big corporations, manage corporate housing for owners and rent out units to corporations.

I have not had experience in this but just a thought.  I can try to look up the contact info for the corporate housing person if you like.  PM me.

Hi Alex, welcome to BP!  I'd, too, suggest the BP poscasts first and foremost.  You must have proper knowledge to avoid making mistakes and the podcast is a good way to learn a wealth of information about RE. 

Another great resource is the forums here on BP.  Also, read books.  Pretty much gain as much knowledge as you can.

Also, meet local investors.  Look for local BP meetups.  For example, here is one that @Al Williamson usually organizes: https://www.biggerpockets.com/forums/56/topics/254...

There are other local RE meetups as well.  @Tapan Trivedi leads one, as well as @David Oldenburg

Hi Al, I'm definitely interested.  Depends on the date ofcourse but if I'm in town, I'm in.  :)

Hi Peter, welcome to BP!  

I second the BP Podcasts, those are a great way to learn. It sounds like in your situation seller finance or FHA financing with low downpayment are potential options. But most importantly, make sure that the deal itself is a true deal. Also, determine whether you want something local or if out of state is an option.

What part/area of Sacramento is the deal in?  

Hi Max, welcome to BP!  

First of all, you've taken a big step by engaging in the forums, so congratulations on that.  Having said that, this is only a small first step on a long journey.  Here are some thought that will hopefully help give you some direction:

1) Learn as much as possible about real estate.  Just make sure you don't end up just learning forever and never taking action.

2) Listen to the BP Podcast.  With over 150 podcasts, it's a wealth of information on many different subjects of RE.  I would suggest to start at the beginning and make your way up through all of them.  https://www.biggerpockets.com/renewsblog/category/...

As a testimony, about a year ago I made this single suggestion to a friend of mine who was interested in real estate, he did not even know about BP.  About 9 months later he purchased a 4plex and is househacking right now.  He not only listened and learned, but also acted on what he learned.

3) Read the forums and be involved.  There is a ton to learn.  The Ultimate Beginner's Guide is a great start. https://www.biggerpockets.com/real-estate-investing

4) Read good books.  If you have not read Rich Dad, Poor Dad by Robert Kiyosaki, I'd start there.  It's a good way to change the way you think about wealth and money.  If you don't have time to read, many good books have audio versions. 

5) Find local people who are active in the business and network.  I'm not familiar with Gainsville much but I do know that the Tampa Bay has quite a few BPers and they have meetings as well.

6) You're not going to find someone who will just take you under their wing without first seeing that you are serious about RE.  And that means that you first must prove to yourself that you are serious.  All of the points above will help you in getting there.  

What many new potential investors don't understand is that there are very many people like them (have interest in RE) but only a very small percentage actually take action.  The experienced investors know this and so most are very reluctant in taking someone "under their wing" without really knowing whether that person is actually going to stick through it.

So the best way to go, is learn as much as you can.  Meet experienced people and learn from them.  Offer your help or services for free in order to learn.  Remember that short term money is never the goal (even though it seems that way especially when you are starting out).  Relationships and character will get you much farther.  Once more experienced people see that you are serious and will to do anything to be successful, they will be more willing to help you succeed.  

But the biggest key is NEVER GIVE UP.  It may be a couple years before you buy your first property, but don't let that get you down.  

Florida is a good market to be in.  I'm out in California but come out to Clearwater/Tampa Bay at least once a year.  I have family there who also have rentals, and the opportunities are definitely there.  

But once again, first steps I'd suggest are listed above, and I especially recommend the podcasts.