Newbie Investor from Hercules, California

Newbie Investor from Hercules, California

Real Estate Agent · Hercules, CA · Member since 2013 · 39 posts · 18 votes

Hello - I just wanted to introduce myself. My name is Alan Malicse. I stumbled upon the Bigger Pockets site while doing research on other Commercial Real Estate and Investing forums.

I live in Hercules, CA and have been in the Bay Area since 1975. I just turned 41 and my background and career for the past 17years was in Desktop and Systems administration. I was recently laid off in Aug from Lucasfilm which is what prompted me to assess my current life and pursue a career I can be passionate about!

I've always been interested in the field of Commercial RE but didn't have the liberty to focus all of my time in building a portfolio for my future. I've taken some early steps since being laid off. I completed my Real Estate Lic classes in Oct and just scheduled my State Lic exam in Jan. My plan after getting my license is to work with my cousin who has been a broker in commercial lending for the past 10years.

I'm taking this step in order to educate myself more on the backend of commercial deals and with that knowledge, my goal is to purchase my first commercial property in 2014. I have listened to a few podcasts here on BP and recently which I had purchased back in 2006 (yes I know) the J Scott Scheel DVD programs.

At first I had my property type focused on retail but because I am starting off small and very little money in the bank - I've decided to switch my focus to small Apartments 5-6 units just to build my experience. The extent of real world knowledge in real estate has been limited to just buying my personal home which I've lived in for the past 10 years.

Needless to say this new venture in life is scary as hell! But I know inside this is a field I've wanted to get into for a long time and something I know I can do for the rest of my life. I'm hoping I can network with all sorts in the business and please all and any advice is welcome!

Thanks for your time and maybe we'll work together in the future!

Alan Malicse

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Real Estate Investor · Santa Cruz, CA · Member since 2009 · 267 posts · 73 votes
12y

Welcome Alan! Sounds like an exciting time for you, getting your feet wet in CRE loans and buying your first deal. I do CRE throughout the Bay Area, so feel free to give me a call. I'd be happy to fill you in on the current market, what to expect as a new CRE investor, and any advice you may need moving forward with your new career. Licensing in Cali can be a real pain. The DRE took nearly 3 months to issue my license, thanks to our super efficient CA government ;) Just make sure all your info is current, especially name and address. Otherwise, it could be a nightmare obtaining your license. Again, best of luck and feel free to reach out to me if you have any questions, ideas, etc.

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  • Real Estate Agent · Hercules, CA · Member since 2013 · 39 posts · 18 votes
    12y

    Just to add to my last post. Very eager to find a Mentor in the commercial investing side. A career change like this seems so daunting but knowing someone who can guide me in the right direction early on would be a great step in that direction. Thanks again!

  • Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    12y

    @Alan Malicse

    Welcome.

    Check out the Start Here page http://www.biggerpockets.com/starthere

    Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

    Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having 40 past ones to catch up on.

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

    Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

    There are many different types of commercial investing each with its own set of rules and exceptions. Gather your foundation first.

    Good Luck

    Paul

  • Real Estate Investor · Santa Cruz, CA · Member since 2009 · 267 posts · 73 votes
    12y

    Welcome Alan! Sounds like an exciting time for you, getting your feet wet in CRE loans and buying your first deal. I do CRE throughout the Bay Area, so feel free to give me a call. I'd be happy to fill you in on the current market, what to expect as a new CRE investor, and any advice you may need moving forward with your new career. Licensing in Cali can be a real pain. The DRE took nearly 3 months to issue my license, thanks to our super efficient CA government ;) Just make sure all your info is current, especially name and address. Otherwise, it could be a nightmare obtaining your license. Again, best of luck and feel free to reach out to me if you have any questions, ideas, etc.

  • Real Estate Agent · Hercules, CA · Member since 2013 · 39 posts · 18 votes
    12y

    Joey - GREAT to hear from you! I will definitely reach out to you!! I truly appreciate it! 3 months? wow! I believe I made sure all my information was correct on the application so hopefully no hang ups. Look forward to speaking with you!

  • Real Estate Agent · Hercules, CA · Member since 2013 · 39 posts · 18 votes
    12y

    Paul - awesome links!! Thank you so much for your advice! I'm like a sponge right now and I'm always looking for good research. I'll keep in touch with you hear on BP!

  • Ned CareyPro Member
    Moderator
    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    12y

    Welcome to BP @Alan Malicse You mentioned a mentor so check out this post How to Find a Mentor If you think it is awesome as Paul's links leave a comment.

    I think Scott Scheel is a very good presenter and I enjoyed his boot camp. However if you really wan to get to know commercial check out CCIM training and also Ray Alcorn's materials. Both are outstanding

  • J. MartinPro Member
    Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
    12y

    Welcome @Alan Malicse ! It's good to go out and do something new, and sounds like you're passionate about it.. So that's the perfect start! There are lots of investors on the site from the East Bay and San Francisco, so hopefully you won't be short on people to network with. Click "Monitor Topic" on the following link for updates on East Bay meetups. Unfortunately, you missed the last one earlier this week! Also, you can click the "vote" button on posts if you like them, and can earn "awards", which you can see in your profile. There's also some good guides in the intro forum..

    http://www.biggerpockets.com/forums/86/topics/106912-east-bay-meetup---dec-10-in-oakland

    @Joey Budka , watch it buddy! I'm a state employee!! lol (different dept)

  • Real Estate Agent · Milwaukee County, WI · Member since 2009 · 3k+ posts · 525 votes
    12y

    @Joey Budka welcome aboard and good luck with

    your commercial real estate license in California.

  • Real Estate Agent · Hercules, CA · Member since 2013 · 39 posts · 18 votes
    12y

    Thank you everyone for the warm warm welcome - means a lot believe me!! J Martin - I went ahead and clicked monitor topic on that link. Thank you very much for pointing me to it!

    Ned - thank you - I skimmed thru that link earlier. I'll definitely read thru it in detail. It's for sure something I'd like to pursue.

  • Investor · Cincinnati, OH · Member since 2013 · 2k+ posts · 1k+ votes
    12y

    @Alan Malicse - welcome and congrats on venturing into real estate full time. If you're looking for more reading material, one book I really enjoyed re: multifamily is Commercial Real Estate Investing by Dolf De Roos.

    Deal syndication on apt communities is what I do and it's a darn good biz model so you're pursuing a very good path!

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