Spokane, WA · Member since 2014 · 5 posts · 1 vote
Hi Everyone,
I am a new member to BP from Orange County, CA. My husband and I established an LLC in 2012 but have suffered from "analysis paralysis" since then. Our goal for 2014 is to begin to build a portfolio of single family, and small multifamily properties in Spokane, WA. I am originally from Spokane and would like to invest in my home town. It has a low cost of entry and a strong rental market - a great place to build a track record before branching out to higher cost markets.
We plan to continue to work full time as we build the portfolio to help with our ability to finance deals.
Eventually my goal is to expand to other markets and to purchase large multifamily properties. I look forward to learning as much as I can from BP and its members and to share what I learn as I go.
Rental Property Investor · La Plata, MD · Member since 2011 · 216 posts · 117 votes
12y
Hi Kimberly,
Welcome to BP.
Many people have reservations on pulling the trigger on their first deal. It has been said that "money and success are on the other side of doubt and fear". The first thing I would recommend is to establish your investor identity. What type of buy and hold investor are you - cash flow, appreciation, amortization, depreciation or a combination? Once you decide your identity analyzing deals based on that criteria will help you make better decisions. If still indecisive I suggest getting a local mentor who has the same investor identity as you and currently doing the type of deals you are considering will get you off to a good start.
There is nothing better than getting mailbox money every month.
Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
12y
Hey @Kimberly C. welcome to the site! Great to have you here! Don't forget a photo when you can - it will help build better relationships here on the site!
SFR Investor · Lakewood, CA · Member since 2013 · 66 posts · 16 votes
12y
Hello Kimberly,
Welcome to BiggerPockets. Glad to have you here. It's a great place to learn. I'm in the Long Beach/Cypress area. There's a wealth of knowledge & experience from the online & podcast resources. Have you networked with any of the RE Investor's clubs in the local area? Hope 2014 will be the springboard year for you!
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
12y
@Kimberly C Welcome to BP! If you haven't done so already, you can read The Beginner's Guide to Investing (under Learn tab at top) and listen to some of the podcasts. You might also want to do keyword alerts for the area you are interested in.
Being from the area already, you should have a good feel for the market, which should help you get past your fears.
Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
12y
Welcome Kimberly. There are a lot of super helpful people and great advice on this site! I’m a ‘fix and hold’ investor from the Bay Area in CA, and loving it! A lot of others doing flips, wholesaling, notes, everything.. A few tips..
You can tag people by typing @ before you type their name, then clicking their name when it pops up at the bottom of the message box. You can click on the ‘vote’ button if you like someone's post or is helpful, and there are ‘awards’ to earn on your profile. The "Learn" link across the top navigation bar has lots of great info, and most importantly, the BP members! Welcome to BP, and good luck on your investments!