All Forum Posts by: Wesley Duvall

Bob,

I have always been curious about being a private lender and the returns look pretty nice. 

However you mention the risks and expenses that come along with it that concerns me. Understand that I can do the math but outside of that I know nothing about notes especially other regard to minimizing my risk. I could see if the notes were secured by real property that would be nice but I'm guessing they seldom are. 

I suppose I have some research to do as you've piqued my interest. Thanks for your time.

Wes

Antonio. I agree. Midtown is ridiculously priced and the rents certainly don't add up to any positive cash flow without a substantial down and at that point I could imagine many other better options. Thanks for your input as well.

Wes

Lots of good advice and food for thought here. It's great to hear from other local investors that face or have faced similar challenges with similar situations. Thank you all for the input.

Regards,

Wes

Jay, I've never considered that. I could imagine that it would be easy to get taken advantage of or get involved in a bad deal. I'll look into that as well. Thanks

Wes

@Derek Daun. Thank you so much for taking the time to provide your input. That's exactly what I was looking for. I hear the Oak Park area and certain parts of Del Paso Heights are improving so I'll begin looking in those areas and seek out some local agents that know the area well that might have visibility to some off market deals.

I knew the 2% model that some in the Midwest are getting is totally unrealistic here. I'm also not totally convinced that there's a whole lot more appreciation to be had in the near future but it may be a risk I have to be willing to take. I could come into a deal with 60k in pocket but was saving the 20k to buffer the deal if something went wrong which I failed to mention earlier. Thanks again for your time. 

Wes 

 Thought about house hacking but it would be difficult with my wife and daughters. In another 4 years once our 15 year old is off to college I could totally see house hacking as a solution. 

I have considered the Yuba City/Marysville area but again we are talking C,D,F neighborhoods. Cask flow would be decent but the risk is a concern with being a new investor. 

Wes

Hello to all and a big thank you to BP. I've been a member here for over 2 years and never posted but I've done a ton of reading. A little about me and my situation. I'm mid 40's, work a pretty time consuming job, and I'm looking to pull some cash out of my home to begin investing. I will have 30-40k to begin with. 

My discouragement comes from listening to podcasts where Joe Investor buys a duplex for $80k and his net cash flow is $600 a month or the famed 2%. The market in the Sacramento area is very competitive. Duplexes in far less than desirable neighborhoods are 150k+ and I dont see rents that support most properties i would be willing to buy as a new investor. I'm not stuck on multi family properties but this is just an example as many of you know who are from this area that unless you're a cash buyer or a retail/primary residence buyer it's a difficult market. BRRR seems almost out of the question unless I come across something that's off-market.

I've looked into out of state turn-key opportunities that would bring in cash flow but then all my capital is tied up in those properties at least in the near future and would prevent any resemblance of an aggressive investment strategy that I need to have to build wealth before retirement. 

Maybe find a wholesaler? Or? I would like find something that would allow me to perpetuate investing. I would really like to attend some local meetings but they usually occur on days that I work but I hold out hope to attend someday. 

Thanks for reading my rant and again thanks for any help. Happy investing.

Regards,

Wes