BiggerPockets

Hi all!

I'm new to investing but know a bit because lots of friends own apartments. I personally do not want to be a landlord, but would like to take some of the equity I've made over the past few years and put it in something, so here I am, looking for ideas :) Sounds like a few of us are here for the same thing.

~Jenn

I agree with Chris. You pay a manager to handle the day to day business and collect the checks. The key is getting a property that had a good cash flow. Otherwise, I guess you could look at the stock market or something.

Hello Jenn,

And welcome. Whereabouts are you from? How are
you personally dealing with the drop in re prices?

I live in Corona, CA, and the price drops don't effect me too directly. I mean it was nice to hear my home was worth a little more a year ago than it is right about now, but I've owned it for awhile and made plenty of cash through it. About the only thing I considered doing but backed out of was buying something already nicer than what I had rather than upgrading, but seeing how long some of the places in my neighborhood were taking to sell, that I wouldn't be able to get what I saw at the end of last year, and then thinking about the property taxes made me reconsider. I guess the worst part is my friends aren't doing any more flips for me to look in on! Or looking at new buildings to purchase nearby, etc. I used to hear about the newest deal that someone was looking at over coffee and loved hearing the details. It's like a chill has descended, right when I was looking at joining in on the game!

oh yes, foreclosures or "forks" as the coffee and bagel bunch calls them are being talked about more and more.. last week it sounded like it's still the world of all cash buyers and people willing to jump on people as soon as they go late on a payment. Then you hope that they have equity. I know there's far more to it than that of course :lol: But for now I'm still looking at some things out of state.

Hello Jenn,

I can definitely relate not wanting the stress of being a landlord and prop managment would be a good avenue in this case. Your doing the right thing by researching your next step "Forks" will be like fishing soon but there are so many other investments you can make as well(time and/or money). Sounds like you have the skills to do residential have you ever considered Commercial?

[i]Hi Jenn,

I just signed up about 15 minutes ago and read your post.
I live in California too (Claremont) and I happened to come across some investment opportunities you might want to check into.

I recently visited Salton City (at the Salton Sea). They intend to 'fix up' the lake and surrounding area and make it a booming place. Plans are already in place. You can check out the official sites on Google.

In that area are a number of gorgeous, INEXPENSIVE, houses (for instance around $265,000 for a NEW 3BR/2BA/2CAR 1700 sqft, large yard house, extremely well insulated. Most houses also have all appliances).
Then there are a large number of lakeside lots available for around $30,000.
I think it is all well worth the money and if I had any, I would have bought a bunch of them!!
If you want to know more (I found some sites that sell), let me know.

Good luck.

Joyce

P.S. I am not in any way associated with any of the above; I just happened to come across it.
[/i]

[i]Hi Jenn,

I hope you will take some time to check out the really nice properties out there because I think, some time from now, it will be a good investment.

I have not seen anything that looks like the pictures you show. However, I can totally imagine that that would keep a person away! Ewww!

Let me know how it goes if you go will you?

Joyce[/i]