Welcome, @Michael GlotfeltySoCal can be a tough nut to crack for newbies.A couple years ago I mailed out lots of letters to homeowners in LA County with no luck.Then I tried rural Kern County and got a deal from a distressed homeowner in California City.The margins were not as large as they would've been in LA or OC, but I was able to rent it out for 2 years before fixing it up and selling it for a decent gain.Also, have you considered an owner-occupied small multifamily for your first deal?

not sure if they're open to a jv.. but just dealing with them on negotiating sales prices makes me cringe already. working wth them on a jv would drive me nuts. thanks for the advice. 

I found out that my rents were way below market, I had to contact them to raise the rents from $1000 to $1200 a floor.I think I' small fish, they manage condo complexes and I'm a small dude with 1 triplex.

Welcome, @Julie BaekYes, SoCal can be a tough nut to crack for newbies.A couple years ago I mailed out lots of letters to homeowners across LA County with no luck.Then I tried rural Kern County and got a deal from a distressed homeowner in California City.The margins were not as large as they would've been in LA or OC, but I was able to rent it out for 2 years before fixing it up and selling it for a decent gain.Also, have you considered an owner-occupied small multifamily for your first deal?

I actually used to live in Valley Village (Magnolia and Laurel Canyon).Anyway, SoCal can be a tough nut to crack for newbies.A couple years ago I mailed out lots of letters to homeowners across LA County with no luck.Then I tried rural Kern County and got a deal from a distressed homeowner in California City.The margins were not as large as they would've been in LA or OC, but I was able to rent it out for 2 years before fixing it up and selling it for a decent gain.Also, have you considered an owner-occupied small multifamily for your first deal?

Tampa's nuts right now. 

Hey guys I'm new to real estate investing and trying to get into wholesaling looking for some like minded people to meet up with maybe do some offshore fishing or catch a beer.

Cash would be $159kI would need to discuss this with my attorney but the nuts and bolts would be $184K purchase price, 7% interest only for 10 years with 20% down.I’m looking to make sure my formula is correct but would like for members to break this down.

Welcome, @Brian R.SoCal can be a tough nut to crack for newbies.A couple years ago I mailed out lots of letters to homeowners across LA County with no luck.Then I tried rural Kern County and got a deal from a distressed homeowner in California City.The margins were not as large as they would've been in LA or OC, but I was able to rent it out for 2 years before fixing it up and selling it for a decent gain.Also, have you considered an owner-occupied small multifamily for your first deal?

Because no matter how many rules you write and they sign when you get to nuts and bolts the friend card comes out.