All Forum Posts by: Nemo Patel

@Nabil Suleiman and @Aaron K.  When I get time, I have to actually visit some of those areas.  Since I have never lived in the areas and I work full time, it will be difficult to tell the "good" from the "bad" areas.  Maybe I will just have to spend a weekend in one of the cities.

@Jackson Wu You basically summarized all of my concerns about the SGV into a few paragraphs. I'm only focused on cash flow and COC (and not speculation). And unfortunately, I do not have $700K to throw around like all the flippers and private equity firms. I will have to check out the FIBI meetings to look at what other people are doing and perhaps find a mentor.

@Jeff Greenberg I will definitely check it out when I have time ( I work every other weekend).   I used to rent on 2nd and Ocean Park, and I miss living out there! 

@Simon C.  Misery loves company!  I honestly don't even know what syndication deals are, but I'll research that tonight.  Even if i did have enough cash to put down for positive cash flow deals, the OC/LA deals would leave such a small cash on cash return that I may as well use a different investment vehicle. 

Thank you for the warm welcome guys!

@Nabil Suleiman  As this would be my first property, I feel that buying local would be easier for me to manage and learn from.  An out of state property seems like a much more nebulous and hands off idea.  If something went wrong, I wouldn't have the experience or local knowledge to address the issues.  I may have to look into east or central Cali as compromise.  

Hello BP Community!

I am a newbie with zero experience.  I work full time, but I want to become involved in real estate "on the side" to gain passive cash flow.  I have been slowly reading through the guides on the BP website to gather background information.  

I am interested in buying a cash flow positive SFH or Duplex rental property to get started. Unfortunately, the only two markets that I have actually lived in both have significant barriers to entry.  The Los Angeles market (specifically San Gabriel Valley) is very expensive.  Chicago (Cook and DuPage) has been getting crushed with property taxes due to poor government management.  

I am open to any advice or resources that people may have as I start my journey.  Thanks in advance!