Burbank, CA · Member since 2015 · 6 posts · 5 votes
Hi fellow BiggerPocketers!
I am very new to the idea of real estate (including this website). I've been doing a lot of reading and it seems most fit for me to invest in a Multi-family home but I'm not sure what steps I need to take to prevent getting duped, since I am new to this.
Any inside tips? I currently reside in Burbank, CA and am looking to invest in a multi family home where my family and I can also live. Reading Brandon's blog has inspired me to do this in order to live rent free and profit in the long run. Does anybody have experience with this sort of thing in the Los Angeles area? Open to any suggestions. Really loving this website and the information provided to inspire young investors like myself. Thanks kindly, Araz. OH and Merry Christmas everybody.
There are some mf Calculators here, i am unsure of where it is, however, you might need to get outside of the metro LA area, maybe start with 5-6 units and live on 1, you might not be able live free totally but it is a possibility.
There are some mf Calculators here, i am unsure of where it is, however, you might need to get outside of the metro LA area, maybe start with 5-6 units and live on 1, you might not be able live free totally but it is a possibility.
Hi Araz, if you need help finding multi-units let me know! I'm in Burbank as well & a realtor. It's a tough area to turn a profit if you want to stay in Burbank as cap rates are very low unless you are putting 30% + down & most entry investors don't, though there are good buys surrounding Burbank in the valley!
There are tons o materials to accelerate your learning process, but just dont quit your 9-5 yet.... You will actually need it to make faster progress in REI.
check our the podcasts and webiners, and get involved with BP local meets ups....I will only quit when my income from REI matches or exceeds my 9-5 earnings....that way, there will be no shocks....
There are some mf Calculators here, i am unsure of where it is, however, you might need to get outside of the metro LA area, maybe start with 5-6 units and live on 1, you might not be able live free totally but it is a possibility.
Thanks for the tip, Manolo D. As I'm receiving more and more feedback, it seems that getting outside of the metro LA area might be the best option for me as well. Really appreciate your response.
Welcome to Bigger Pockets. It is a good place to connect with real estate professionals and to learn about real estate. For example, you set up key word alerts. http://www.biggerpockets.com/alerts
Welcome to BP, this is a great website and resource for all types of real estate investing.
I always recommend these 3 things to people beginning in Real Estate Investing:
1) Do a lot of research here
2) Do not spend a lot of money with coaches, it would be much better to put that money to work and learn from experience, I'm not against coaches or education, but you need to be careful as there are some that are really bad
3) There are many real estate clubs out there, visit them, select your favorites and meet other investors working your area. You can find info on clubs here and also you can look at meetup.com. Networking is key to success.
Bill Tan has a networking group that meets once a month in Arcadia, this is the link: