Long Beach, CA · Member since 2015 · 10 posts · 3 votes
I have equity of 100k in a home in long beach California don't know what my next move needs to be. I want to flip homes but open to anything. Any advice anyone can give me on what to do. I'm getting my real estate license in 1 month.
My goal is to finish 2 flips more by the end of next year hopefully more.
About me :
On my third flip and have some capital I would like to invest about 100k looking for opportunities to make my money grow with a partner that has experience. Or willing to shadow someone who wants to teach a young real estate investor the "the how to" I'm open to ideas let's make something happen. Get in contact with me!
The first thing you need to decide is where do you want to invest. Dollar for dollar, California is not the best place to invest your $100k. There are plenty of other markets; especially in the midwest, where you can make a lot more money off of your initial investment. Kansas City is one of the best places to invest. The cost of living is lower than the national average. The housing market is more stable than either the east coast or the west coast which means your risk is less (although your potential ROI could also be less).
We help investors from around the globe make the best choices for their unique situations/goals. I would be happy to help you if you decide to invest in the Kansas City market.
Thanks everyone for responding to my post. I am interested in the Kansas City housing market. I will do my research for that area. If anyone has any ideas to what steps for me to take next would be greatly appreciated.
@Account Closedthat is great that you are flipping houses in your area. I am familiar with the Kansas City market from a CA perspective so if you ever have questions send me a message.
We are also in California and doing a cash to refinance. We personally are buy and hold investors so the cash out money is what we are using to buy more houses so I can't be much help on the flip aspect.
I still wanted to wish you good luck and welcome! :)
Nice to meet you and congratulations on your upcoming real estate license and the success of your flips. It sounds like you are looking for opportunities in the U.S. As another option, have you considered investing in properties overseas. Opportunities are much more affordable than the U.S. and lucrative, and not as complicated as you might think. If you’d like to know more, I’m happy to help.
Thanks everyone for responding to my post. I am interested in the Kansas City housing market. I will do my research for that area. If anyone has any ideas to what steps for me to take next would be greatly appreciated.
Cheers!
Welcome and congrats on your recent successes, great to hear!
As far as what steps are next, I can't help too much since i'm not a flipper. The biggest thing I would say is to look ahead as far as possible and try to picture the life you want, and workload you want. What i'm getting at is to develop your vision so you know where your going, without that no one can tell you what to do next. I say this because, you say that you've already flipped 3 homes, so i'm guessing you know what to do in regards to your next flip. However, if you want to take your generated capital and re invest in a different way then you need to clearly define your vision, and then it's much easier to work backwards from there and determine your immediate steps.
I am more of a buy and hold rental income type. I actually house-hacked 2 properties in northern california to get started (maybe similar to you), but am currently re-investing those proceeds into long term rental properties, because finding good deals that are 'flippable' is a lot of work, and once I have a good cost basis on a property I don't want to give it to someone else, I want to collect on it for the long haul.