I just transitioned out of the military and decided to stay in Southern California. Currently I don't have any mentors, advisors or even fellow investors to associate with. I have searched on the internet for meetup groups or seminars, but with Covid going on it has been difficult. Maybe other members might have some insight on this topic. Thank you for any advice
@Brandon Patrick NSDREI is definitely worth checking out, although currently they aren't meeting in person, @Donald E Appleberry and I also host a meetup in San Diego once a month!
@Jeremy Wirths Thanks for the shoutout, and for listening to the show brother :))
@Brandon Patrick don't let Covid hold you back. There are plenty of meetup groups in Southern California that yes do meet online for now, but it can be worth the connection. You can also find mentors in those groups as well. What are you looking to do? Flipping, Wholesaling, buy and holds, note investing? You should narrow your focus and seek out investors willing to help in those areas.
Hello Joe, My problem is I am unable to find these meet ups. Truthfully being in California I would like to speak with some local investors to see how they are profiting with their investments here in California. With the high cost, high taxes, strict land lord restrictions, and older structures the number just don't add up. I don't even see how you can break even here.
Good afternoon! Thank you for your service! Though I'm not in so cal anymore, I wanted to point you towards Joe Homs, however; I see he's already made an introduction! In markets such as so cal, it takes a little more creativity sometimes to get started, but don't get discouraged. The good part is you probably have a VA loan option. You didn't say where you were from, but maybe a condo or ? to start building equity. Good luck on your journey.
@JoeHoms, I have been thinking about doing flips.I have the capitol and my friend has the construction aspect so we were going to get with an agent and see what there is out there. @Karen We are in the Longbeach area.
@Brandon Patrick When the market crashed and we left Redding, CA where we had lived and worked doing real estate development for years, we went to southern CA. I knew NOTHING about the market down there, and in searching online I came across BP. I actually ended up starting the meetup in Lake Forest, and when I moved (my husband passed away) Joe took it over.
Our thinking at first was that we would do fix/flips. However; every person on the planet had been watching HGTV and were bidding on the foreclosed houses, getting prices well over market value. We decided to do spec new construction. Finding lots was the difficult part. We ended up going into the coastal areas as we knew that would be the least risky for us, though very expensive.
Going into areas you don't know is a challenge. Get to know all you can about the market, and understand the price point people are buying in and where the demand is. On remodels there's always things you don't see that cost far more than you were planning on. Start smaller, do one and get the process down, see how long permitting takes, what costs are, find subs, materials suppliers, etc. Then the next one you will have all of that lined up and you can get rolling. Feel free to message me through BP or give me a call if there's anything I can help with. Good luck!
@Brandon Patrick I just listened to @David Pere's latest podcast episode, The Military Millionaire - on it he spoke with Aaron Mazzrillo and they met at the NSDREIA meet-up and both spoke highly of it. https://www.nsdrei.org/ Looks like the next meeting is this Tuesday
@Brandon Patrick NSDREI is definitely worth checking out, although currently they aren't meeting in person, @Donald E Appleberry and I also host a meetup in San Diego once a month!
@Jeremy Wirths Thanks for the shoutout, and for listening to the show brother :))