Live Near Santa Monica, a Newbie, and Need Accountability?
Hello All,
First things first, I am not a real estate investor. It pains me to write that but it's not to say I don't WANT to be a real estate investor I am just stuck. Stuck for so many reasons:
1. I live in Santa Monica, CA. There isn't a market within manageable driving distance that isn't overrun with professional real estate investors and insane market prices.
2. Investing out-of-state is scary. How do I invest out-of-state if I can't be there for an extended period of time to manage the closing period and renovations (a seemingly necessary step to get the most equity from RE investing)? I've never had to rehab/renovate a home, where do I begin to estimate rehab costs? So many factors here...
3. What are all the factors to a thorough market analysis?
4. Should I just focus my efforts instead on finding a more lucrative job?
These are just a few items that discourage me from "sticking with it" on the research and demotivates me from analyzing properties. I do have a friend in Orlando I am looking at maybe partnering with on a buy and hold, but I haven't known him for a LONG time and would have to rely on his perspective - he is also brand new to real estate.
Now that you understand where I am coming from, if you are in a similar position and need accountability to keep thinking about real estate and analyzing markets - most of all need accountability to TAKE ACTION once you have analyzed a deal where the numbers make sense...please join me in creating a group of people near the Santa Monica area to share information and keep each other accountable.
I do not have a plus account to create events, but this is not for the purpose of creating "clout" in the RE industry or promoting a turn key or RE company I'm involved in. This is just a group of people getting together maybe 2x a month to share information and establish goals. I wouldn't be writing this if such a group already existed on the events page in BP, there isn't one - at least not a consistent one and one that doesn't cost $$$ to go to the events.
If interested, please send me a message and I'll create a What'sApp thread, thanks!
-Kyle Horjus