All Forum Posts by: Trevor Lohman

@Jonathan M. You'll have to let me know what areas you are looking at in the Inland Empire. I did home health in the Inland Empire for a few years so I have a really good feel for all of the different areas.

As far as there not being any war zones in the IE, that may be the case... but I have to say there are definitely some things I wish I could unsee after working in San Bernardino, Colton, Fontana, some parts of Riverside, Bloomington, and Rialto for a few years

@Daniel Smilansky Wow that'd be great. I definitely know the area fairly well and even have some good tenant sources in the Loma Linda area (I'm a professor) and I have to say if you're going to rent to college kids, a Seventh Day Adventist (no alcohol or caffeine) Medical school is a good place to start. We may have missed the boat as far as easily finding good deals, but I know with the right networking and due dilligence they're out there... hopefully

@DL Martin said, I guess its about what I'm trying to accomplish. I was trying to accomplish cashflow close to home, I think I may need to reconsider my goals!

Anyway, Loma Linda is a great place DL... that is actually where I got my doctorate, its surrounded by a lot of bad though. If I was closer I would offer to manage it for you just to learn about landlording. Anyway, good luck!

Wow!

@Ali Boone ,

@CK Hwang

@Jodi Slocum

It always amazes how spot on the advice is on this website! CK, what you're saying makes perfect sense, I think I may just be priced out of the market for the time being. Ali! Thank you for validating everything I have been feeling. Currently, buy and hold investing is really all that I feel comfortable stepping into, and I just don't fell comfortable doing so in my area. The inland Empire is constantly thrown out at me as a suggestion but as you said it (even more than other California areas) is incredibly tenant friendly. A coworker of mine has a rental in ontario that has had a tenant living in it for two years without rent (while subletting) and been unable to evict. He might be doing it incorrectly I'm sure but it seems to be a common tale. Additionally, the inland empire is still expensive compared to other areas, and by expensive I mean the RV ratios are pretty bad. Now, I'm sure there are others who are successful, so I don't mean to say it is impossible, but I definitely agree with what you are saying.

I am seriously considering out of state investing, and will use money that I do not absolutely need, and will look for high quality safe areas. I really am in love with the south right now, particularly some of the nicer areas of memphis, Houston, little rock, and even some parts of Austin (although it is getting pretty pricey)

Thank you for the awesome input guys, I know out of state investing isn't for everyone, but I don't plan on jumping in without putting in some serious research and networking time.

Thanks again guys.

@Brandon Turner

Wow! It is kind of surreal talking to you, I've been listening to your guy's show forever now. It is AWESOME! Mostly you, Josh is alright. kidding...

Well, I feel like I resonate with a buy and hold type of investing more than anything, but I am open minded. Also I definitely see the advantages of marketing like a wholesaler like you say, even if I end up being a pure buy and hold investor. I'm at that crucial point where I am kind of treading water.. reading, listening, repeating. Hopefully soon I will take the leap. You and Josh have been a huge part of making me think I can pull it off, so thank you for that!

Thanks for the welcome Brandon, and for the weird cat video! lol.

Keep up the AWESOME show!

@Stacy Jackson

I'd love to hear more on this as well. I've heard that LLC's can't technically buy residential property (using conventional financing) but that you may be able to transfer property into an LLC after you purchase it. I've also heard in very rare cases the lender can basically ask for all of their money back on the spot if you do this. These may all be rumors, and I'm sure it varies by state. I had been scared away from investing in real estate through an entity for this reason so I would love to hear more. I don't have much experience so forgive me if this sounds ridiculous, just something I read.

I would be careful about viewing bitcoin as a currency. The volatility makes it more like a commodity. Imagine accepting metals as rent or barrels of oil, and at least those things actually have some intrinsic value. Sure you might get lucky with a short term increase in bitcoin value, but you'd be speculating. If that's a risk you can afford to take you may get lucky, but I personally would much prefer the good old US dollar.

Dylan,

The Dave Ramsey fan in me says you have to knock out that debt first before pursuing any large investments. However as a relatively new grad myself, I definitely understand the urge to get into real estate investing as I am in a similar position.

Imagine you had no student loans... would it be reasonable to borrow 50-60k dollars to get yourself into a well thought out real estate investment? I think it would. The problem becomes if you have to borrow more money on top of your student loans to invest in real estate, not so much the fact that you're investing while you have student loans. The advice above about finding a partner sounds like a great solution to me. I personally don't think its smart to borrow more money on top of what you owe on your current salary, but I'm sure many successful investors might disagree, just my take.

One quick question, your salary seems low for an RN. My company pays RN's 60 dollars per patient visit (typically they see 6-8 patients a day). Is it possible that you can find a higher paying job? Or is this just part of being a new grad?

Haha @Account Closed Wow I must be half asleep, that went right over my head! It has been a rough week lol.

Thanks Minh and Steve, I will read that link right now.

Sorry if this is a total newb question. But what is a 1031? I've gathered it's used to mitigate taxes (I think). If any one is willing to help I would appreciate it!

Thanks,

Trevor