New to Real Estate - Sacramento CA

[Ryan Sario]

Hi everyone,

It’s a pleasure to meet you! My name is Ryan and I’m a current undergraduate student at California State University, Sacramento. Real Estate investing has always been a topic of interest for me and is something I would like to dabble in soon. My current Real Estate interests include house hacking and flipping. I’ve watched countless videos and read thousands of articles online but the worry of not knowing enough remains. I’m looking forward to meeting and learning along side you all. 

[Brian Halstead]

@Ryan Sario, I have been investing in real estate since 1993 and I am still scared to do deals. I look at all the what-ifs and it drives me crazy. I have done a couple of flips and bought then sold duplexes and SFRs. I still think I am crazy every time I buy something. I analyzed 60 properties on BiggerPockets before purchasing 1. I think it was Brandon who said to just go into the BiggerPockets calculator and analyze 5 to 10 properties a day to get the practice. I think that was great advice. Good luck with your studies, your career, and your investing.

[Marlon Fong]

Welcome to the site @Ryan Sario! It's great to have you here.

Here are some recommendations for you:

Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...

Read Beginner’s Guide: http://www.biggerpockets.com/r...

Check out BP Money Podcasts: https://www.biggerpockets.com/...

Wishing you the best!

[Ryan Sario]

Quote from @Brian Halstead:

@Ryan Sario, I have been investing in real estate since 1993 and I am still scared to do deals. I look at all the what-ifs and it drives me crazy. I have done a couple of flips and bought then sold duplexes and SFRs. I still think I am crazy every time I buy something. I analyzed 60 properties on BiggerPockets before purchasing 1. I think it was Brandon who said to just go into the BiggerPockets calculator and analyze 5 to 10 properties a day to get the practice. I think that was great advice. Good luck with your studies, your career, and your investing.

 @Brian Halstead, thanks for your reply. It's comforting to know that such a tenured investor as yourself still has these worries. I really appreciate your words of encouragement!  

[Clayton Silva]

@Ryan Sario The irony is that you will never know enough, that is part of the beauty and journey of real estate.  No matter how many deals you do or properties you buy, things will be missed, or something new will come up, or you'll learn something along the way.  The goal, for me at least, is to learn as quickly as possible by doing.  I have made a lot of mistakes this way, but I have also been able to expedite the learning process as well as my real estate portfolio growth by diving in and being willing to make mistakes.  I know this isn't necessarily the most encouraging message but I hope it helps!  The first is the hardest but they don't necessarily get much easier, you just get a little more confidence with each one!

[Ryan Sario]

Quote from @Clayton Silva:

@Ryan Sario The irony is that you will never know enough, that is part of the beauty and journey of real estate.  No matter how many deals you do or properties you buy, things will be missed, or something new will come up, or you'll learn something along the way.  The goal, for me at least, is to learn as quickly as possible by doing.  I have made a lot of mistakes this way, but I have also been able to expedite the learning process as well as my real estate portfolio growth by diving in and being willing to make mistakes.  I know this isn't necessarily the most encouraging message but I hope it helps!  The first is the hardest but they don't necessarily get much easier, you just get a little more confidence with each one!

 @Clayton Silva, I appreciate you keeping it real with me. Any piece of feedback from the community is worth so much to me. I definitely understand what you're saying and I look forward to purchasing my first property sometime in the near future. 

[Clayton Silva]

Quote from @Ryan Sario:

Quote from @Clayton Silva:

@Ryan Sario The irony is that you will never know enough, that is part of the beauty and journey of real estate.  No matter how many deals you do or properties you buy, things will be missed, or something new will come up, or you'll learn something along the way.  The goal, for me at least, is to learn as quickly as possible by doing.  I have made a lot of mistakes this way, but I have also been able to expedite the learning process as well as my real estate portfolio growth by diving in and being willing to make mistakes.  I know this isn't necessarily the most encouraging message but I hope it helps!  The first is the hardest but they don't necessarily get much easier, you just get a little more confidence with each one!

 @Clayton Silva, I appreciate you keeping it real with me. Any piece of feedback from the community is worth so much to me. I definitely understand what you're saying and I look forward to purchasing my first property sometime in the near future. 

 You'll make it happen! You should come to our Stockton and local meet ups to meet investors in the area! DM me for some info on that if you'd like to learn more!

[Dmitriy Fomichenko]

Welcome to BP @Ryan Sario ! You have found the right place for a plethora of information on REI.

Best of luck on your REI journey.

[Scott Scoville]

Welcome Ryan! I'm an investor and agent in Sacramento. Don't hesitate to reach out if you have any questions about this market. Best of luck!

[Steven Foster Wilson]

Hi Ryan, welcome to BiggerPockets! House hacking is one of the most popular strategies you can take and it can be a great way to build wealth and generate passive income, but it's important to have a long-term plan in place. I'd say keep in mind a few things for starters:

1. Work on your numbers - be sure to calculate potential cash flow and ROI. Make sure to factor in all expenses such as property taxes, insurance, repairs, maintenance, repairs and potential rents.
2. Type of property - Choosing a triplex and fourplex is ideal but a duplex will also work out.
3. Loan option - FHA will be a great starting point for you if you haven't done it previously, try to look it up.
4. Make sure to properly screen your tenants at all times. Don't rush into things to secure your investments.

Lastly, be a good landlord and build a certain relationship with your tenants by ensuring that you address all issues and concerns in a timely manner. A good landlord will always keep a happy and loyal tenant all the time. Hope this helps and best wishes to your real estate journey!

[Andrew Syrios]

Welcome to BP Ryan and best of luck investing!

[Nicole Masters]

Hey Ryan! Welcome to your real estate investing journey! 

[Sloane Kraftsow]

Hi Ryan! Welcome to Bigger Pockets. I just graduated college, stared working in real estate, and joined Bigger Pockets so I admire you starting out so early. Good luck on your real estate investing journey!

[Gordon Cuffe]

@Ryan Sario You will start with buying a primary residence which might be a duplex or single family home to house hack. Dont worry about not knowing enough on your first transaction. You can just get a home inspection on your first purchase so you know what your buying and what work the property needs. I suffered through the 2008 mortgage meltdown and lost rental homes. If that was once in a lifetime occurrence then you will be fine.I just got ripped off by another contractor. Watch out for contractors if you ever purchase a property that needs a lot of work. They are the most crooked part of the real estate investing equation. 

[Steven Foster Wilson]

Hi Ryan, welcome to BiggerPockets! This is surely the best place to start networking and learning. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Continue listening to the BiggerPockets podcast and start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. 

House hacking is one of the most popular strategies you can take and it can be a great way to build wealth and generate passive income, but it's important to have a long-term plan in place. You can learn more from this link here: https://www.biggerpockets.com/real-estate-investing/house-hacking-strategy

The fix and flip strategy can be a profitable venture if you've done everything correctly. You may want to make sure that you follow these top 4 tips that I have for flipping:

1. Do your research - Before purchasing a property, make sure you conduct thorough research on the location, the property's condition, and the potential cost of repairs. This will help you make an informed decision on whether the property is a good investment.

2. Know your renovation budget - You don't wanna overdo or underdo a property. Focus on the right improvements that will add value to your property.

3. Know your after repair value - The goal of flipping is to make money so you have to make sure you're not covering your all-in cost and you're actually making a profit

4. Time your sale right - When the market is favorable and the demand for housing is increasing, that's the best time to do it. This can help you avoid having to list your property for too long. Hope this helps and best wishes to your real estate journey! Looking to purchase my first property.

Get started and it will be only good things for your future. All the best!

[Ryan Sario]

Quote from @Sloane Kraftsow:

Hi Ryan! Welcome to Bigger Pockets. I just graduated college, stared working in real estate, and joined Bigger Pockets so I admire you starting out so early. Good luck on your real estate investing journey!

@Sloane Kraftsow Thank you for the warm welcome! Congratulations on graduating and best of luck to you on your future endeavors! 

[Ryan Sario]

Quote from @Steven Foster Wilson:

Hi Ryan, welcome to BiggerPockets! This is surely the best place to start networking and learning. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Continue listening to the BiggerPockets podcast and start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. 

House hacking is one of the most popular strategies you can take and it can be a great way to build wealth and generate passive income, but it's important to have a long-term plan in place. You can learn more from this link here: https://www.biggerpockets.com/real-estate-investing/house-hacking-strategy

The fix and flip strategy can be a profitable venture if you've done everything correctly. You may want to make sure that you follow these top 4 tips that I have for flipping:

1. Do your research - Before purchasing a property, make sure you conduct thorough research on the location, the property's condition, and the potential cost of repairs. This will help you make an informed decision on whether the property is a good investment.

2. Know your renovation budget - You don't wanna overdo or underdo a property. Focus on the right improvements that will add value to your property.

3. Know your after repair value - The goal of flipping is to make money so you have to make sure you're not covering your all-in cost and you're actually making a profit

4. Time your sale right - When the market is favorable and the demand for housing is increasing, that's the best time to do it. This can help you avoid having to list your property for too long. Hope this helps and best wishes to your real estate journey! Looking to purchase my first property.

Get started and it will be only good things for your future. All the best!

@Steven Foster Wilson, I appreciate the book recommendation! I’ll definitely check it out and consider giving it a read, I’m constantly in the pursuit of knowledge. 

[Ryan Sario]

Quote from @Gordon Cuffe:

@Ryan Sario You will start with buying a primary residence which might be a duplex or single family home to house hack. Dont worry about not knowing enough on your first transaction. You can just get a home inspection on your first purchase so you know what your buying and what work the property needs. I suffered through the 2008 mortgage meltdown and lost rental homes. If that was once in a lifetime occurrence then you will be fine.I just got ripped off by another contractor. Watch out for contractors if you ever purchase a property that needs a lot of work. They are the most crooked part of the real estate investing equation. 

@Gordon Cuffe, I like the way you think! I’ve been looking into house hacking for a little while now and it’s definitely a strategy that interests me. 

[Noah Laker]

Quote from @Ryan Sario:

Hi everyone,

It’s a pleasure to meet you! My name is Ryan and I’m a current undergraduate student at California State University, Sacramento. Real Estate investing has always been a topic of interest for me and is something I would like to dabble in soon. My current Real Estate interests include house hacking and flipping. I’ve watched countless videos and read thousands of articles online but the worry of not knowing enough remains. I’m looking forward to meeting and learning along side you all. 

 What's up Ryan! I'm 23, I'm a real estate broker here in Sacramento; we own 6 doors and manage over 100 short term and long term rentals for clients. I'll be happy to jump on a call to talk shop sometime! Props to you for getting in! DM me man