Noob from Los Angeles, CA
Hello BP folk! For a couple of months now I've been lurking the forums, listening to the weekly podcast, and reading the UBG (in addition to several other real estate investing books). So, it's about time I properly introduced myself to your community. I'm a 28-year-old veteran of the U.S. Army, federal employee, proud new father, and also a recent first-time homeowner living in the Los Angeles area, more specifically the San Fernando Valley. When my son was born about five months ago, my whole world was changed. Seemingly overnight, I transformed from a carefree twenty-something who bought/did what he wanted to a father on a mission. I am in the early stages of developing a plan that will lead to financial wealth and real estate investing will be my vehicle.
A little more than a year ago, my wife and I bought a house that was flipped here in Los Angeles with 20% down and my wheels have been turning ever since. I have seen less-updated houses in the neighborhood rent for $2600-2800 while the PITI that we pay on our home is almost exactly $2000. To me (a complete newbie), this sounds like an opportunity for cash flow and I'm eager to tap into it. In the meantime, I am learning everything I can about buy and hold investing, land lording, self-managing properties, screening tenants, and so on. If anybody has suggestions for reading, stories they wish to share, or whatever, please don't hesitate to leave a comment or contact me directly/privately. Thank you all for all of the invaluable information you have already shared with me and I very much look forward to being an active BP member and successful buy and hold investor.