Hi I'm Chris, new to real estate investing and excited to meet u

51 Replies

Hey @Christopher Chen !

Welcome to this amazing community! Your approach to learning about real estate investing seems to be going in a positive direction. Keep up the excitement and surround yourself among those who will keep pushing you towards being the best. 

All the best on your success!
 

Originally posted by @Christopher Chen :

@Lane Kawaoka  totally agree! The only reason I'm purchasing here is to lower my expenses. I realize I've spent 60k on rent in the past 2 years. Once I've reduced my expenses I plan on investing in Memphis.

Great advice. Are you primarily a cash flow investor? That's what I'm choosing to focus on now.

Totally agree? What a bunch of manure IMO. 

Everything in life has a price. Something is a expensive for a reason so is something cheap. The nose bleeding high barrier of entry in our market is to keep the losers out, or shall I say to send people OOS. You know there’s a saying “OOS investing is where CA investors go to lose money” right?

Real estate investing in the Bay Area is a competitive sport, which is reserved for the real “sophisticated investors.” With low to no barrier of entry for a bunch of cheap rentals OOS, why the hell would those people rent from you when it’s cheaper for them to buy with a mere 3% down? If they couldn’t come up with 3% to buy a house for themselves, what kind of tenant profile are you dealing with? 

Save yourself the potential headache and heartache and scratch the OOS investing idea out of your mind for now. Spend sometime and learn our real estate market first. Once you figure it out, I guarantee you won’t be looking at the cheap rentals OOS.

Let me leave you with this “If you’re willing to do only what’s easy, your life will be hard. But if you are willing to do what’s hard, your life will be easy.” Investing in the Bay Area is hard where the barrier of entry is so god damn high. Investing OOS is easy where there’s no barrier of entry. 🤔

Best of luck. 

@Christopher Chen welcome to the community ! I’m a newbie too from Concord, about a month ahead of you. There’s so much info here and super helpful investors.

I'd include BRRRR book by D. Greene as well . GL and lemme know if you have any question .

@Christopher Chen

Hello Chris,

I’m new to BP and RE investing myself. I’m currently reading the Beginners Guide To Real Estate Investing by Brandon. The people here are very helpful and informative, nothing but great advice I have received so far. I wish you the very best on your journey!!

Best of luck Chris!

@Christopher Chen

As someone who has been investing out of state for over a decade, I can tell you that it is a great time to go into this type of investing.  Certain markets are definitely priced out (my home town area being one of them) and you need to go where the markets make A LOT more sense in terms of cash flow.  I highly recommend speaking to those who have successfully done OOS investing.  With proper systems and teams in place, you can create a successful business model.  

Hi Chris,

Welcome to BP, lots of good people and good info here.  My personal favorite piece of advice I got from BP was, have plenty of reserves, cash reserves, you can never have enough reserves.  

Hey Chris! I'm pretty new here and to REI myself. Currently just trying learn as much as I can with a goal to invest in my first property within a year. Looking at the BRRRR strategy currently and just read David Greene's latest book on that. Sounds like you might want to check out some of the blog posts on "house hacking," as that seems to be the direction you're looking to go. I think a new book is about to be released on that too (I think by Brandon Turner?)

Originally posted by @Christopher Chen :

@Lane Kawaoka  totally agree! The only reason I'm purchasing here is to lower my expenses. I realize I've spent 60k on rent in the past 2 years. Once I've reduced my expenses I plan on investing in Memphis.

Great advice. Are you primarily a cash flow investor? That's what I'm choosing to focus on now.

Welcome! I'm also a newbie to BP and to real estate investing as well. I'm curious: why Memphis?