Hey guys. I’m pretty new to the community and everything. I started listening to the podcast about 6 months ago. This is my 2nd post and I already learned so much from the first. I can start to feel the power of the bp community and want to reach out to all of you for your CONSTRUCTIVE feedback or ideas. Let’s get started.
First off, I am an investor in stocks. I have a small but not tiny portfolio. This is not going to change. I want my stock portfolio to complement my real estate portfolio along with all my other assets.
Location: My partner and I live in Sunnyvale (Bay Area/Silicon Valley) and are looking to buy our first real estate investment property in Sacramento. We want to be as close to Midtown as we love the city feel. We would like to get a renter in their but I absolutely LOVE the idea of airBnB. We might later move to the house after 1.5/2 years (another reason why we want to be close to midtown).
Having lived in SF for a year years, I also like the idea of neighborhoods. So any nice neighborhood in any of the neighboring cities would be good too.
Financial: my partner will be a silent partner who provides the money while I will be the property manager. I’m going to be honest. I am scared. So to calm my nerves I have figured that we can do a slightly bigger down payment to give a better chance at cash flow. Cash flow is our ONE THING. We can “afford” a slightly bigger down payment. I feel like there are a lot of mental benefits to this also. I will get my feet wet. It will set me on a good path. Might not be the fastest but I am okay with that. If the first one is a success, my partner is willing to allocate more of her portfolio into real estate. This is why cash flow is our one thing. We want to generate more monthly cash flow along with our stock portfolio.
I do not plan on buying every house with a 30/35% down payment. Just my first.
This might be a crime here on bp but I have not read mr and mrs turners book on property management but I still want to ask, What are some others books out there to help me on property management?
Thanks.