My name is Cristian and I live in Montreal, Canada where we currently have awesome -20C weather (I think that's like -4F)So a little about me - I started being interested in real estate investing after reading the Rich Dad, Poor Dad book which resulted in me going to one of their free seminars that resulted in going to the paid 3 day weekend that then resulted in taking their advanced training which I recently got refunded because I wasn't satisfied at allI then learned about a new program with ************* which I am currently following and seems ok for nowMy main issue is that I am full of a lot of book knowledge but close to zero real world experience short of calling a few agents, home owners and so on.I was let go from my job on October 10th because of budget cuts and have decided to go full time investor since thenI am ready to do whatever it takes to make this work because my mindset is already changed and going back to a job is now my ultimate last resort that barely has a shred of interest tied to itMy immediate goal is to buy myself more time - I am ultimately looking to replace my ex job income by the end of 2014 and then some - but for now I'm simply looking to close a few deals to buy more time financially speakingThat's it for me for now - hope to get a chance to speak to a lot of you and soak up all the information that I can while building some great relationships along the way :DCheers

I would budget another $500/month for that.With those numbers, I see your direct assumption of 1.1M in debt costing you alsmost $1000/month.At 650k you'll see about 2k/month in cash flow.

If you've already accounted for foundation issues and other larger items, which it looks like you have with a 40k rehab budget, there's less of an unknown.

We have a budget of $150,000 with a $10,000 "contingency fund."

Fire up your diesel truck , drag the shed over to his fathers property .

Your numbers, if I have them all right and your rehab budget proves accurate are ~12k current cost, plus ~40k rehab for a cost basis of ~52k.

If I was out of town and looking, I'd be checking out DTLA, Culver City, North Hollywood, Sherman Oaks, Long Beach, and Costa Mesa, because they all sort of attract and sustain young working class families, and that's the type of MFR renter I'm familiar with, and those neighborhoods are somewhat affordable, albeit a tad sketchy in some areas.Now, if I had a bigger budget and better knowledge on the ins and outs of newer developments, I'd be checking out Santa Monica, Brentwood, Venice, and Huntington Beach, because they're nicer neighborhoods.What are you looking for?

Well- not really packing up a truck with my stuff, just thinking of wholesaling in other areas in my state.

He's always been a driver, never a trucking company owner.

Currently I've been listening to podcast from BP, reading books, set a budget to save money for our first project for the coming year and just found a nearby REIA which my first meeting will be beginning in January.I look forward to getting involved in several discussions and to bounce ideas off you all.