All Forum Posts by: Whitney T Redfield

OC median SFR price is $400-750k. Median MF price is $1m+.

Riverside is the closest RE market that you'll get to OC that you can afford, and that's an hour drive on the 91 going WITH traffic.

FHA loans have yet to pencil out for me to make a profit, at least initially. The property may make money after a refi, but that's after a year of high monthly payments. Good luck saving.

This is a sellers market. My advice, keep saving. Live below your means. Wait for a better market, or when you finally have that 20% for an out of state purchase. Ohio has SFRs and MFs for $60,000. 20% of $60k is $12,000. 3% of $250k is $7,500. If you can get preapproved for $250k at 3% down, try saving a bit more and put down 20% on an out of state. OR, find a partner here on BP that lives in that area to be feet on the streets. 10% of $60k is $6,000 and just figure out how else you can contribute to the deal. Maybe some repairs money, or you do all the paperwork, or you manage the property managers while your partner looks for the property.

Best advice is this... be creative. There are plenty of ways to make money if you can be creative!!

Welcome @Kiet Huynh

Welcome @Danielle.  This is a great place to start!

@Jean Coquilla Good call!

@Brandon L. Welcome

@Fahad Masud Welcome

Kyle, that's a really good agreement.  I like how you structured that.

Is there going to be another meet up in Long Beach?

@David Stroud, I've been watching the So Cal Orange County market for a while now.  $500K duplexes do pop up.  Most range from $650k-800k ... again, for a duplex.  I found 4-plexes in Huntington Beach for $1m.  

Joe,

Atlanta is a great market.  There are a lot of people in BP working that market, including myself.  I'm sure you can find someone willing to share the workload, for a share of the deal.  I agree with @Bob L. and @Alaska Wagoner that the level of compensation should be clarified from the beginning, and that unpaid internships will not be filled.

Have you considered turnkey investment firms?  I found one in Atlanta that I shared with my Brother.