All Forum Posts by: Account Closed

Hey BP, Just curious if there are any investors who could give some advice or share their personal stories about how they’ve invested successfully in California. Some quick info about me: I’m 24, college student, two part time jobs, and am studying real estate/RE finance so I️ can buy assets ASAP. I’m based in Torrance CA which is an expensive place to live. I’ve looked at multiple multi family buildings for sale in Torrance, Redondo Beach, Hermosa Beach, El Segundo, and Long Beach, and when I️ run the numbers I see that I️ have a NOL. Most of the time the income generated by the building won’t even cover debt service. I want to avoid investing in “hood” areas where it is les expensive like Inglewood due to stories my uncle (a landlord in Long Beach) told me when he bought 62 units in Long Beach about 20 years ago. Am I️ looking in the wrong places? Should I wait out this sellers market and buy during the next down cycle? What would you do in my shoes? Thanks for reading and thanks in advance for any responses.

Hey BP, Just curious if there are any investors who could give some advice or share their personal stories about how they’ve invested successfully in California. Some quick info about me: I’m 24, college student, two part time jobs, and am studying real estate/RE finance so I️ can buy assets ASAP. I’m based in Torrance CA which is an expensive place to live. I’ve looked at multiple multi family buildings for sale in Torrance, Redondo Beach, Hermosa Beach, El Segundo, and Long Beach, and when I️ run the numbers I see that I️ have a NOL. Most of the time the income generated by the building won’t even cover debt service. I want to avoid investing in “hood” areas where it is les expensive like Inglewood due to stories my uncle (a landlord in Long Beach) told me when he bought 62 units in Long Beach about 20 years ago. Am I️ looking in the wrong places? Should I wait out this sellers market and buy during the next down cycle? What would you do in my shoes? Thanks for reading and thanks in advance for any responses.

@Antonio Gonzales Thanks so much. Looking forward to it.

Where can I find the information for these workshops? I'd be interested in coming along. I'll never pass up an opportunity to learn something new.

By the way, at the local REI meetup I attend everyone seems content with paying $20-25 so that would be a good price range in my opinion.

Thanks.

A lot smoother! I can now better ignore my college professors and read BP action! :D

Thank you @Matthew Martin, that is a great idea. I've been stuck in the information stage since last year but have learned a lot since then. @Joey Dwyer is absolutely correct about rentals in this area and I plan on taking both of your advice. I'm focusing on getting through college and saving money at the moment but when I am ready I'll remember this information and see if Aaron can help me out. Thanks again for the input I really appreciate it.

I agree with @Patricio P., the way you can have investors be interested in working with you is to bring something valuable to the table. This could be capital, handling the deal, finding the investment property, ect. Don't give up and keep planning! Good luck.

Very creative! Love seeing these kinds of posts.

You've most likely heard this before, but: "if the deal is good enough, the money will find you."

Other than that I see you're from Hermosa which is close to my neighborhood and I recommend you check out the REI in Manhattan which is called FIBI South Bay. You can find details on Meetup.com and they amlost always have great deals and great information. Before every talk everyone networks so I imagine you will find interested buyers there.

Best of Luck.

Hi BP,

What are your three top sources of information concerning these categories? :

1. Market conditions in your target market

2. Analysis of properties (sources of information on the property excluding info from seller)

3. The economy as a whole

I'm sure everyone has some preferable sources where they get information and it would really help beginners like me, so feel free to share if you'd like! Also, if you have any creative ways of gathering information (such as the guy who dressed up as a maintenance worker and went into commercial properties he was looking at to gather information on the condition of the property in one of the BP Podcasts) I'd love to hear about it!

And yes, BP is the best of them all as we all know :)

Thanks,

Spencer