As the subject says, I am new to the Real Estate Investment game. First off, a few things about myself... I am 29 yrs, an Army Veteran just getting out about a year ago Nov. 2015 (served 4 years), Married with a baby girl. I will soon start taking classes for my CA R.E. License and have attended a couple of 3-day REI Seminars (I understand the meat and potatoes). I say all that to say, my goals here on BP are very simple.
Learn Contracts relevant to the State of CA, Tax Liens, House Hacking, Wholesaling, the best way to find a mentor local to Sacramento, CA (I hear REI Meet Ups are good places? not asking for one on this site), how to put together an LLC (already have an EIN), best marketing practices used, buyers and sellers list.. etc
Find Title companies that work with wholesalers in Sacramento
REI Groups in the Sacramento Area
Thank you for your service!
I think you have a nice set of goals lined out there! Let me know if you have any questions!
Hey @Ryan Blake and welcome! I'm out in Rocklin but I cover all of the Sacramento area as an agent. I work with a few investors from this site and elsewhere.
Well, I'd say you have a very big list there! LOL If I can offer any advice to you I'd say listen to the podcasts on those topics that interest you... but once you find yourself leaning towards one strategy really hone in on that one in particular.
If you try to learn anything and everything it may get overwhelming. There are so many things to learn about each specific strategy so I would definitely narrow your interest level - at least in the beginning stages.
Are you leaning towards anything specific yet - like buy and hold, flip, or wholesale?
Focus on learning how to find good deals and building your team. Find what parts of REI you most enjoy and find good partners to handle the rest.
I'd love to hear more about where you are beginning your journey and where you want to go; maybe I can provide some lending advice. For example, as a Veteran, you have access to a VA loan for your primary residence, an excellent way to get started with minimal out of pocket.
I'm nearby in Roseville and do plenty of loans in Sacramento. Feel free to PM me with specific questions.
You mentioned LLCs; at this beginning stage, may not have much benefit to you. I think you'll be interested in Podcast 162 where Amanda Han talks about tax strategies and touches on this topic.
Thank you for your service. I was going to mention the VA loan as well. That is an asset you have that most don't. Maybe look into the possibility of using a VA loan and then buying another house and renting that one? Not sure if that's allowed.
I agree with @Sophia Morris that you need to focus so you can excel. I am personally looking toward quick flips and then BRRRR because I have an experienced contractor as a partner.
Good luck! I'll be at the meetup in Roseville on November 1st. Maybe you can attend.
From a fellow vet, thank you for serving, think about utilizing VA loans, medical, etc. Loan, have been told can use for duplex to four-plex as long as you reside in one unit. Now i'd find one area to start and take baby steps in real estate while you get your certification. My real estate areas are: flip, buy/hold, tax liens, and handyman biz. So, ask if you have any questions and read away on BP, it an excellent source.
Welcome @Ryan Blake ! You are in the right place to gain lots of knowledge about real estate investing. I've only been at it for less than a year but I have learned a ton through listening to many podcasts, watching @Brandon Turner 's webinars, and networking with people on the site. The learning opportunities are endless on BP. I would definitely learn about all the opportunities available to you in regards to VA loans. I'm sure there's lots of articles written on the subject on BP. I remember there was a podcast I listened to recently that spent time discussing VA loans. It was #163 with Bill Allen. It was a really great show, I highly recommend it. Also, I would seriously consider house hacking if you don't already own a primary residence.
There's a lots of local REIA's in the area including the Capital City Wealth Builders in Sacramento and one in Rocklin organized by David Oldenburg. Their next meeting is November 1st. Good luck, and I'll see you around the site!
@Sophia Morris Thanks for the advice! I'm leaning toward wholesaling at first to build up capital to buy and hold single & multi-family homes in the near future for passive income. I will definitely check out the podcast section.
@Carrianne Mucho Thanks! I will soon be starting classes for my real estate exam, so I will start there. As far as where I want to go, I want to own several Multi-family and apartment complexes streaming enough revenue to fund other community projects I have in mind.
I will be checking the podcast section for how to build a team and the Tax section (it's all about how much we keep right? :)
@Darron Stewart thank you as well Brother, and I will definitely look into all of that when I'm ready to make that move but I don't know if the Mrs. will like that LOL, Momma's ready for a house.
@Kim Stofan thank you for all the great advice but allow me to be brutally honest... I would really love to know what is/was the hardest part of the first year getting started, pros and cons, expenses I can expect and etc... while its fresh on your mind.
Thank you all for being so welcoming and offering the advice you did.
@Ryan Blake , if you don't own a primary residence, house hacking by purchasing a home that needs a little elbow grease or updating using a VA loan might be a great way to get started sooner than later! I'd be happy to put together a sample cost analysis for you - PM me.
Here's a link to all the info for the next Roseville Meetup:
@Ryan Blake welcome to BP! Lots of great advice from other investors here, I would definitely attend the meet ups, the Roseville one is great as are a couple other ones in sac that aren't quite as far of a commute especially during rush hour if you're coming from the south side of town. I recently formed a couple business entities, PM if you want more advice or details on this.
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