New Member From Yuba City/Marysville CA
Good Evening BiggerPockets,
My name is Mikhail Andrade and I'm a motivated beginner real estate investor located in the Yuba City/Marysville area of California (45 minutes north of Sacramento).
I'm an enlisted Contracting Officer stationed at Beale AFB. The past 10 years of my life I have been travelling all of the United States (Texas, North Dakota, California, Florida) and the world (Europe and the Middle East). I was raised in England, but would call Northern California home.
My background in real estate can be best described as an enthusiastic beginner. I have always been interested, but until the last six (6) months I envisioned starting a real estate investing career after I left the Air Force. However, after revisiting Bigger Pockets I have decided to take the remaining ten years of my career buy and hold real estate investing wherever i'm stationed.
The ultimate goal is to amass a real estate portfolio over the next 10 years to have a $2-3K passive income stream. At that point I will wrap around (so to speak) slowly selling properties and taking the equity out of my SFH/MFHs from where I will be stationed oto re-position my homes in the area that I plan to live in long term.
My market is within 30 minutes commute Beale AFB. I plan to purchase SFHs and MFHs that will appeal to the military personnel and transient workers. Being in NorCal I intend to avoid homes with Mellow Roos taxes and HOAs.
My 3 month goal is to fully articulate a buy and hold business plan. In June i'll taking leave to accomplish this , interview local agents, and get preapproved for a VA loan. Within 6-9 months I plan to purchase my first home utilizing a VA loan. My prelimary market research has leads me to believe that there are few MFHs in my area on the MLS that are feasible under the 50% rule. With that in mind, I plan to 'house hack' and buy a 3 bed 1-2 bath SFH and rent out 1-2 rooms. I'll improve the home through sweat equity and purchase a second home using the remaining funds under my VA loan cap 12-18 months later.
I look forward to working with you all and learning as much as I can about real estate investing.
-Mikhail