All Forum Posts by: Nick Johnson

It's becoming affordable to live here finally. The prices seem to still be adjusting downward but it's not the spiral that is was a year or so ago. I don't think it's at the bottom yet, but it feels like we are close.

Welcome Mark and fellow Californian!

I am sure you will see that there are many many many good hearted people here that are willing to give great advice, pass along a wealth of knowledge, and do what they can to help us newbies out!

Welcome to the site and GL with your RE career!

I am sure that there are several investors here that deal with property in NY. I am looking for a sensible place to obtain funding at a somewhat reasonable rate.

I am looking to either buy property that is ready to rent OR buy a property, rehab it, then rent it. Either way I am looking to buy and hold for cash flow.

Any pointers? Places that loan in NY? Places to stay away from that over charge? Lenders that know and understand this business?

Thanks for anything that comes my way!

I can't afford to invest in CA, period.

I don't mind being away from the property. I can visit a couple/few times a year.

As long as I put a quality team in place consisting of quality people that I can trust, I should make it.

There is only one way to learn IMO.... by doing. I gotta get in there and get my feet wet.

As long as I buy in the 50-65% of market value, I don't think I would lose my shirt too bad ;) no matter how bad things get for one reason or another.

I know that the learning curve is more steep to go out-of-state but that is what I am looking to do. CA is too pricy to find boat loads of cash flow properties. I want to start small as well, less than $100k per property so East I go. :)

Any advice or words of wisdom are greatly appriciated! Thanks!

Did you get any hits or replys on this one?

I too am looking for some help with Rochester, NY properties.

Thanks!

My name is Nick and I am a rookie when it comes to real estate. My parents have several rental properties and they have done very well for themselves. I am going to try and follow from some of the things I have seen them do, and also learn from others here.

My goal is to slowly build up a portfolio of buy and holds for cash flow. I am not as concerned with appriciation as I am with the cash flow. I am looking to supplement my income so I can increase my RE portfolio over time and then eventually the American Dream... Retire Early.

I am always looking for advice and also to hear from others living in CA that buy and hold out of state RE.

Thanks for looking and I look forward to hearing back from all of you!

Driving around and looking at the for rent signs is going to be a problem for me, as I am in CA and the property is in NY. Just trying to make this thing work if I can. I am very interested and just looking for a little help from people with experience to help hold my hand on the first one. I am sure you remember the feeling ;)