All Forum Posts by: Tim Ryan

Aaron Mazzrillo haha. I tend to side with Aaron on this one. Good post. BP can be good for the reality check!

Faraz A. Here is what I did: 1. Bought books and read 2. Listened to Podcasts 3. Went to Meetups and REIA's 4. Talked to other investors Got the education and still was stuck. Then I paid for coaching and programs and everything changed. That's my story. Maybe others don't need that. It's hard to part with the money but maybe I was lucky to pay for good programs (because I've seen many others waste lots of money). Most of that has to do with who we are as business people and entrepreneurs. My first program was Rich Dad (Kiyosaki) called Choose to Be Rich. Best thing I've ever done. I entered into the program wanting to do real estate. Over the first 6 months we never discussed real estate. Instead they worked on me and my goals and organizing my life. Totally unexpected and totally important. I am now full-time real estate. Read my bio if you want to know what I've done. I would consider paying for a program/coaching but be very sure you can give it your full attention.

I agree that turn-key is not all its pumped up to be. I've been telling (mentoring) investors about this for a long time. I do own out of state (also from Calif) and I am completely happy due to two things I have done: 1. Multifamily only. SFR is part of the problem. 2. I am the property management company and I hire directly my onsite managers and maintenance. Of course you need several properties to pull this off. You are active enough and entrepreneurial enough that you should be Syndicating Apartments. Check out David Lindahl - RE Mentor (I don't sell for them, I did their program). Coaching is expensive but can make you very wealthy.

I'd like to help figure this out. PITI is $900/mo. What about vacancy and repairs? On a nice property I use at least 10% of rents. Let's assume you will manage so no cost there. Buying in an LLC? What about administration costs (banking, filing fees, legal, tax filing fees, etc. Bank loan is 20% or 25% down? Buying one SFR for investment is a business. I'm not saying it's hard but you do need to cost in all the True Costs.

If you are new - partner with someone who has done it!! That's the best thing you can do. Education very important too but still need a mentor to do a deal with.

I'm in Los Angeles area and have lots of experience. Message me and we can get together and see if there is a mutual benefit to networking and a mentorship. Tim Also, the single family and Multifamily you are dreaming about owning are not in California...

Jeff S. Is speaking the truth. Thank him for that. Bottom line, if this is not a deal, keep looking . You'll get one, but never work to make a deal that's not there. Newbies tend to do that, lose money and claim it's too hard. Lol. That's not you because you are asking the right questions.

Jeff H. Let's get together sometime if you come down to Pasadena area. I will tell you what I've done and I have a few local development projects you could look at.

Just downloaded the BP App on my phone. Didn't know BP had one till now. So hope this reply goes to all on the conversation. I am investing in Tennessee and Georgia (not Atlanta).

Hi @Tad Fisher,

My vote is out of state. I live in LA and have friends in SF. Good luck with finding a cash flowing deal. It  sounds to me by your post you are talking about a Buy and Hold Rental so no need to discuss flips right now.

I own apartments out of state. Best asset class in real estate and it's extremely difficult to do in California. Maybe we can grab a coffee sometime and I'll tell you what I have done.  

I have apartment deals from time to time where I raise funds from investors I know for the purchase. I have never asked or taken money from a stranger, so that's not what this is about. 

My motivation is to network with more investors in my local area. Businesses grow when we do this.